In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million. Reuters reports: The video by digital artist Beeple, whose real name is Mike Winkelmann, was authenticated by blockchain, which serves as a digital signature to certify who owns it…
Tag: investors
Bitcoin Could Either Become Preferred Currency For International Trade Or Face a ‘Speculative Implosion,’ Citi Says
An anonymous reader quotes a report from Reuters: Bitcoin rose nearly 7% on Monday as risk assets rallied after last week’s bond rout cooled, with Citi saying the most popular cryptocurrency was at a “tipping point” and could become the preferred currency for international trade. With the recent embrace of the likes of Tesla and Mastercard, bitcoin could be at the…
Apple Has Bought Over 100 Companies Over the Past Six Years, Tim Cook Tells Investors
Apple Chief Executive Officer Tim Cook fielded questions on mergers and acquisitions, the impact of Covid-19, and the company’s supply chain during a virtual shareholder meeting on Tuesday. From a report: Narrating a slide show, Cook summarized many of the company’s new products and initiatives announced over the past year. He spoke about the latest iPhones and the growing potential of…
Bill Gates Questions Societal Value of ‘GameStop’ Mania, Argues It’d Be ‘Good to Get Rid of’ Bitcoin
The price of bitcoin — now over $57,000 — has nearly doubled in the last 7 weeks. Even Elon Musk tweeted that its price seems high — though one analyst tells Bloomberg that Tesla has already made a profit of nearly $1 billion from its recent Bitcoin investment, more than it earned selling electric cars in all of 2020. Yet speaking…
New York Sues To Shut Down ‘Fraudulent’ Coinseed Crypto Platform
New York’s attorney general filed a lawsuit on Wednesday to shut down the cryptocurrency platform Coinseed for allegedly defrauding thousands of investors, including by charging hidden trading fees and selling “worthless” digital tokens. From a report: Attorney General Letitia James said Coinseed traded cryptocurrencies such as bitcoin without registering as a broker-dealer, and sold “CSD” tokens without authorization to raise money…
Bitcoin Jumps To $50,000 as Record-Breaking Rally Accelerates
Bitcoin blew through another milestone, surging past $50,000 for the first time as the blistering rally in the largest cryptocurrency continues to captivate investors worldwide. From a report: The world’s largest cryptocurrency jumped as much as 4.9% to $50,548 and is now up about 70% so far this year. Bitcoin pared its gain after setting the record high. Ether, a rival…
Volkswagen CEO Says He’s Not Scared of Apple
Volkswagen’s CEO Herbert Diess isn’t intimidated by Apple, even though the tech company potentially has an electric car on the way. From a report: “The car industry is not a typical tech sector that you could take over at a single stroke,” Diess said in an interview with German newspaper Frankfurter Allgemeine Zeitung. “Apple will not manage that overnight.” For years,…
How Bill Gates Is Funding the Fight Against Climate Change
Bill Gates was interviewed tonight on the CBS News show 60 Minutes about his efforts to combat climate change: The good news is Gates believes it’s possible to prevent a catastrophic rise in temperatures. The bad news? He says in the next 30 years we need scientific breakthroughs, technological innovations and global cooperation on a scale the world has never seen….
The Rich Got Richer: GameStop’s Trading Frenzy Benefited Wall Street’s Elite
While GameStop’s surge has been heralded as a victory for underdogs, “Growing evidence casts doubt on the idea that the episode mostly benefited small-time investors…” reports the Washington Post. (Alternate URLs here and here “And, in at least some cases, novice investors lost their shirts.” Giant mutual funds that own the largest stakes in GameStop saw the biggest gains in value….
Canadian Regulator Clears Launch of World’s First Bitcoin ETF
Canada’s main securities regulator has cleared the launch of the world’s first bitcoin exchange traded fund, an investment manager said on Friday, providing investors greater access to the cryptocurrency that has sparked an explosion in trading interest. Reuters reports: The Ontario Securities Commission has approved the launch of Purpose Bitcoin ETF, Toronto-based asset management company Purpose Investments Inc. said in a…