▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Feb.17 — Mastercard Inc. Chief Executive Officer Michael Miebach discusses the company’s plans to accept cryptocurrency, his outlook for post-pandemic consumer spending, and new efforts to support Black-owned businesses. He speaks to Emily Chang on “Bloomberg Technology.” ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version
The emanation of the Bitcoin ETF in North America has been a good event but the US is still not sure of when their first Bitcoin ETF will see the light of the day. Following the boom of the entire cryptocurrency market led by Bitcoin, the Asset Under Management (AUM) of the Canadian Bitcoin ETF under the ticket BTCC has been said to benefit from the demand with a predicted surge to $1 billion by Friday according to a Bloomberg analyst. The prediction for the AUM was guided by how…
With only two full days of trading under its belt, the first Bitcoin (BTC) exchange-traded fund in North America reached more than $400 million in volume and is expected to go even higher. According to a tweet from Bloomberg analyst Eric Balchunas, the Bitcoin exchange-traded fund, or ETF, recently debuted by Canadian firm Purpose Investments is likely to hit $1 billion in assets under management by Feb. 26. His prediction came prior to Purpose reporting its Bitcoin ETF traded $421.8 million between the time when it was first listed on…
In a recent video debate, Bitcoin skeptic Frances Coppola debated Bloomberg senior commodity strategist Mike McGlone on the economics of Bitcoin, market manipulation and predictions for 2021. Coppola is skeptical that Bitcoin will ever succeed as a store of value because of its high volatility which, according to her, is a direct consequence of the asset’s fixed supply rate. “With a fixed rate of increase of supply (…) the only thing that can adjust to changes in demand is price”, she explained. Demand fluctuations mean Bitcoin’s volatility is here to…
Morgan Stanley already has a nearly 11% stake in the bitcoin-laden business intelligence company MicroStrategy. Original
An anonymous source claiming to be a senior Indian Finance Ministry official has claimed that the use of crypto assets will soon be completely banned in the world’s second most populated country. Speaking to Bloomberg, the source claimed that the use of cryptocurrency in all its forms will be banned under a new law expected to soon be introduced in the parliament. Transacting with crypto via foreign exchanges will also be prohibited. Crypto investors are expected to be given a three-to-six month transition period to liquidate their holdings after the…
Recently, Bloomberg published a piece calling Bitcoin an “incredibly dirty business.” It’s undeniable that the Bitcoin blockchain has a carbon footprint. Some bitcoins are mined with non-renewable energy, although plenty is mined with hydro, nuclear, or otherwise-vented natural gas, too. No one contests the externality of bitcoin, although the precise carbon footprint is debated. However, the article, by opinion columnist Lionel Laurent unfortunately relies on the flawed assumption that individual bitcoin transactions carry an energy overhead. The question of bitcoin’s energy footprint is riven with misconceptions. Firstly, it’s a mistake…
Bitcoin’s (BTC) violent price swings could become a thing of the past as institutional buyers with stronger hands continue to push the asset higher, according to a prominent crypto whale. Eric Peters, the founder and CEO of One River Asset Management, told Bloomberg Thursday that Bitcoin’s path to maturity should help stabilize its price. “There are all kinds of reflexive dynamics in these assets that ironically will lead to less volatility the higher they go,” he said. “As the prices are going higher, you are drawing in new types of…
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Wall Street chief financial officers (CFO) are more wary of putting company funds into bitcoin after last week’s 30% price plunge, Bloomberg reports. But given the return of bitcoin’s infamous price volatility – which saw the largest cryptocurrency’s price drop thousands below its peak of $41,900 set on Jan. – the attraction of that strategy may have lessened, according to company executives Bloomberg spoke with. Bitcoin has since recovered some of those losses and is now trading hands at $35,700, according to the CoinDesk 20. Severe fluctuations diminish the attractiveness…