Andrew Kang spoke to the Wall Street Journal Wednesday regarding MicroStrategy’s bitcoin strategy. Source
MicroStrategy’s New CFO Says Bitcoin Strategy Unchanged Amid Market Drop: Report
Day: May 19, 2022
Time For Autopsy? Bitcoin May Plunge Further After Dive Below $30k
The next bull market in Bitcoin is now building a bottom. As a result, bears continue to rule the market, sending the price of bitcoin below $29,000 in the last 24 hours. Traders expecting the bear market to conclude may have to wait longer due to unfavorable conditions. Will Bitcoin Retrace? Bitcoin is no stranger to retracements of higher than 20%. More substantial corrections have occurred in Bitcoin’s history than this current one. Those who have been around long enough to recall previous meltdowns of more than 50% in less…
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Trade Minister Expects Russia to Legalize Cryptocurrency – Regulation Bitcoin News
Cryptocurrencies will be eventually legalized, a member of the Russian government has opined. The question is when this will happen, Trade Minister Denis Manturov stated as new crypto-related legislation advanced in the State Duma this week. Crypto Legalization Is Current Trend, Russian Minister Acknowledges Cryptocurrency can be legalized in the Russian Federation, according to a statement by the country’s Minister of Industry and Trade Denis Manturov, during the “New Horizons” educational marathon organized by the Russian “Knowledge” society. Quoted by the Tass news agency, the government official elaborated: I think…
First Mover Americas: Hashed Takes $3.5B Hit on LUNA as Bitcoin Trades Under $30K
The latest moves in crypto markets in context for May 19,2022. Original
SingularityNET, SingularityDAO Receive $25M to Accelerate AI-Backed DeFi
SingularityNET and SingularityDAO have secured a $25 million commitment from global investment group LDA Capital Limited to accelerate their product roadmap, the adoption of artificial intelligence (AI) tools for decentralized finance (DeFi) and scaling the ecosystem. Source
Jack Dorsey’s Block hits $1.3B in Q1 profits, $43M in BTC trading revenue
Block, the pro-Bitcoin (BTC) umbrella company that hosts Cash App, Square and Afterpay, continues its growth in 2022. According to its Shareholder letter, in the first quarter of 2022, gross profits are “up 34% year over year.” In total, the group netted $1.29 billion in gross profits. However, operating costs were also up “$1.52 billion in the first quarter of 2022, up 70% year over year.” The group explains that the acquisition of Afterpay, a buy now pay later service, could explain the increasing costs. In total net Block’s revenues…
ETH Falls Below $2,000 as Crypto Bearish Pressure Intensifies – Market Updates Bitcoin News
Following several sessions of consolidation, ETH has finally caved in, dropping below the $2,000 floor in the process. As we move towards the end of the week bitcoin also fell for a second consecutive session, with prices falling below $29,000. Bitcoin Bitcoin dropped below the $29,000 level on Thursday, as bears continued to push prices lower this week. As a result of a second consecutive session of selling, BTC/USD fell to an intraday low of $28,708.96 on Thursday. This drop comes after prices were trading at a level of $30,016.18…
Bitcoin must defend these price levels to avoid ‘much deeper’ fall: Analysis
Bitcoin (BTC) may be attempting to flip $30,000 to support on May 19, but for one group of analysts, attention is focused firmly on a fresh drop. In a tweet on the day, on-chain monitoring resource Whalemap defined the support levels Bitcoin bulls must defend to avoid fresh significant losses. Whales dictate “do or die” BTC price support Bitcoin’s current “no man’s land” price behavior has commentators split on whether the next decisive move will be up or down. While some are calling for $32,000 or more next, many argue…
Despite Recent Bumps in the Road, Stablecoins Will Stick Around
“Think about all the economic rents that are derived by firms engaged in that sort of activity, and it was a very important activity, creating trust bridges,” said Epstein. “Now smart contracts do that for us automatically. Think about how long it takes to settle a transaction, and what percentage of the year the market is open. Everything will now settle instantaneously, markets can function for 100% of the year, and decentralized finance makes it all possible. There’s a lot of value in that, and it has nothing to do…