Bitcoin

getty For years, Treasury has advised taxpayers that virtual currency is not required to be reported on the Financial Crimes Enforcement Network (FinCEN) Form 114, Report of Foreign Bank and Financial Accounts, or what used to be called the FBAR. That appears to be changing. FinCEN has now announced an intention to amend the rules to require FBAR disclosures for virtual currency like Bitcoin. Currently, United States persons are required to file an FBAR if they hold… Source link

Bitcoin’s face-melting rally has continued today. getty Bitcoin prices continued climbing today, surpassing $40,00 for the first time in history as the cryptocurrency market kept breaking records. The world’s most prominent digital currency rose to as much as $40,324.01 around 1 p.m. EST, according to CoinDesk data. At this point, bitcoin was up more than 900% in less than a year, after falling below $4,000 in March 2020, additional CoinDesk figures… Source link

That’s because one bitcoin (XBT) is now worth more than $40,000 — double the value from a little more than three years ago. The value of all bitcoins in circulation is now more than $740 billion and the total value for all cryptocurrencies is more than $1 trillion, according to CoinMarketCap. Investors have flocked to bitcoin in recent months as the cryptocurrency has gone mainstream. Square (SQ) and PayPal (PYPL)now let their users buy and sell bitcoin. Top money managers including Paul… Source link

Jan 9th 2021 THE FIRST surge in the price of bitcoin, to around $1,000 in 2013, minted cryptocurrency millionaires, provoked declarations of a bubble and left some early fans kicking themselves. One unlucky man in Wales searched a rubbish dump for a hard drive containing 7,500 accidentally discarded bitcoins, whose value had grown from almost nothing to $7.5m. Since then bitcoin has been on a wild ride. Fuelled by casual speculators and market manipulation, its price surged to about $19,000… Source link

Pro-democratic party members shout slogans in response to the mass arrests during a press conference … [+] in Hong Kong Wednesday, Jan. 6, 2021. About 50 Hong Kong pro-democracy figures were arrested by police on Wednesday under a national security law, following their involvement in an unofficial primary election last year held to increase their chances of controlling the legislature, according to local media reports. (AP Photo/Vincent Yu) ASSOCIATED PRESS … Source link

Bitcoin achieved a remarkable rise in 2020 in spite of many things that would normally make investors wary, including US-China tensions, Brexit and, of course, an international pandemic. From a year-low on the daily charts of US$4,748 (£3,490) in the middle of March as pandemic fears took hold, bitcoin rose to just below US$30,000 by the end of the year. Since then it has climbed to all-time highs above US$38,000, making headlines day after day and driving up the prices of other… Source link

Bitcoin (BTC) SOPA Images/LightRocket via Getty Images Bitcoin (BTC) is probably the most FOMO-inducing thing in the world. Investors always regret not doing something about it. First they regretted not buying bitcoin at all. Then they regretted not selling out at $16,000. Now they regret not buying enough at $20,000. What’s next? If you lay out predictions from the most credible investors, you’ll get a scale that goes from “rat poison squared” to… Source link

If the running joke of the late 2017 bitcoin price surge was the image of families discussing crypto around the Thanksgiving dinner table (“Grandma, you should buy litecoin!”), the theme of the late 2020 run has been Wall Street hedge fund runners and billionaire investors going on television to say some form of, “I was wrong.” In the past year, Paul Tudor Jones said he has put 2% of his portfolio in bitcoin and predicted that as new cryptocurrencies proliferate, bitcoin will become… Source link

You might have noticed that the bitcoin is . . . mooning. No, we don’t mean that the bitcoin bros are showing their bottoms to the rest of the world (well, not literally anyway). What we mean is that bitcoin has been on a skyward trajectory ever since it climbed above $20,000 for the first time ever in mid-December, and on Wednesday morning reached an all-time-high of $35,751, according to Coindesk. Here’s a chart showing bitcoin’s path over the past 12 months… Source link

Bitcoin prices have continued to climb lately, rising above $36,000 and attaining their latest high. … [+] (Photo by Jordan Mansfield/Getty Images) Getty Images Bitcoin prices rallied again today, surpassing the $36,000 price level as the cryptocurrency benefited from sustained momentum. The world’s most prominent digital currency climbed to as much as $36,461.69 at roughly 4 p.m. EST, according to CoinDesk data. After rising to this fresh, all-time… Source link