Bitcoin and other digital coins tanked on Monday, wiping some $200 billion off the cryptocurrency market. CNBC reports: The market capitalization or value of the cryptocurrency market was $880 billion at 9:20 a.m. ET, down from $1.08 trillion a day earlier, according to Coinmarketcap. Bitcoin, the largest cryptocurrency, fell over 12% from a day earlier to $32,576, according to Coin Metrics…
Tag: Bitcoin
Bitcoin Soars To $40,000, Doubling in Less Than a Month
Bitcoin surged to $40,000 for the first time, doubling in value in less than a month and pushing the total market value of cryptocurrencies beyond $1 trillion. From a report: Cryptocurrencies hit the milestone after a fivefold climb in market value in the past year, data from tracker CoinGecko shows. Strategists have cited demand from speculative retail traders, trend-following quant funds,…
Bitcoin Surges 25% In One Week. Warren Buffett Still Won’t Buy It
Last Sunday we reported Bitcoin’s price had surged 50% in the previous month. In the week since it’s surged another 24.8%. As Bitcoin celebrates its 12th anniversary, a Forbes columnist writes that Bitcoin “soared to $34,000 yesterday — but here’s why Warren Buffett will never own Bitcoin.” Buffett has called Bitcoin, among other names, “rat poison squared” and has said he…
Bitcoin Miners in Nordic Region Get a Boost From Cheap Power
The Nordic region once again has become a lucrative place to mine crypto-currencies, thanks to a plunge in electricity prices. From a report: The wettest weather in at least 20 years boosted production from hydro-electric plants, leaving Sweden and Norway with some of the lowest power prices in the world. The resulting glut in the most important raw material for making…
Bitcoin Surges 50% in Just One Month. CNN Ponders ‘Insane’ Record Run
The price of Bitcoin increased 50% — in the last four weeks. Now priced at $26,579, “Bitcoin is crashing — upward,” quips CNN Business: The digital currency has a market value north of $500 billion. Think Bitcoin is just a fad? It’s worth more than Visa or Mastercard. Or Walmart… Its rapid rise has been remarkable — or insane, depending on…
SEC Formally Sues Cryptocurrency Company Ripple
U.S. securities regulators on Tuesday sued cryptocurrency giant Ripple, and both its CEO and executive chairman, for allegedly selling over $1.3 billion in unregistered securities. Axios reports: Ripple on Monday had publicly disclosed that the lawsuit was to be filed imminently, and said it does not believe its tokens needed to be registered. XRP, the cryptocurrency created by Ripple in 2012,…
Elon Musk Tweeted About a Bitcoin Rival. It Soared 20%
“Bitcoin is almost as bs as fiat money,” Elon Musk tweeted on Sunday, and then followed it up with another tweet. “One Word: Doge.” “The tweet sent shares of Dogecoin up nearly 20% and landed it on the list of trending Twitter topics,” reports CNN. (Later that day Musk tweeted “i love all u crazy ppl out there.”) The tech billionaire…
RubyGems Catches Two Packages Trying to Steal Cryptocurrency with Clipboard Hijacking
One day after they were uploaded, RubyGems discovered and removed two malicious packages that had been designed to steal cryptocurrency from unsuspecting users by installing a clipboard hijacker, reports Bleeping Computer, citing research by open-source security firm Sonatype. Fortunately, while the packages were downloaded a total of 142 times, “At this time, none of the cryptocurrency addresses have received any funds.”…
Are Cryptocurrencies Becoming Mainstream Investments?
The last time the price of bitcoin hit $20,000 was December of 2017. But Matt Luongo, the CEO of a crypto venture builder, points out to NBC News that this time the market is seeing “significant, high-conviction plays from [a few] large funds and even CEOs of publicly traded companies.” “Names like Guggenheim Partners, [hedge fund managers] Paul Tudor Jones and…
As Bitcoin Surges, Prominent Cryptocurrency Exchange Coinbase Aims To Go Public
Cryptocurrency brokerage Coinbase said Thursday that it has filed a draft registration statement with the Securities and Exchange Commission, paving the way for plans for an eventual initial public offering. CNN reports: The announcement comes as interest in bitcoin and other cryptocurrencies has soared during the coronavirus pandemic. Investors have found such currencies attractive as the US dollar weakens. Bitcoin has…