Goldman Sachs’ Gary Black closed his TSLA position after the company purchased $1.5B in BTC, dodging a 28% crash. Now he’s calling for the company to dump Bitcoin for share buybacks. A former equities CIO of Goldman Sachs drew an strong response on Twitter after suggesting Tesla should sell its Bitcoin and buy back company shares.…
Read more
The newly launched Purpose Bitcoin ETF surpassed even the most bullish expectations but how does it differ from Grayscale’s GBTC Trust? Since 2017, investors have been anxiously awaiting a Bitcoin ETF approval as the existence of such a fund was an important symbol of mass adoption and acceptance from the realm of traditional finance. On…
Read more
Grayscale Investments’ GBTC might be the absolute market leader but it is currently trading below fair value as the TSX Purpose Bitcoin ETF is seeing record inflows. Grayscale Bitcoin Trust ($GBTC) is currently the largest listed cryptocurrency asset with $30.17 billion in assets under management. The firm currently holds more than 655,730 BTC and the…
Read more
Growing concerns over rising U.S. Treasury yields are putting pressure on global financial markets and possibly dragging cryptocurrency prices lower. The cryptocurrency market faced another day of downward pressure as the unease in the traditional markets continues to spread following the recent interest rate spike on the 10-year U.S. Treasury bond. Data from Cointelegraph Markets…
Read more
The recent controversy over traditional brokerages restricting stock purchases cast a positive light on tokenized securities and boosted interest in projects like Ravencoin. Ravencoin (RVN) price has rocketed higher in February as a fresh wave of buying volume lifted the token’s price by more than 800% in the past 20 days. Data from Cointelegraph Markets…
Read more
Analysts bashed Bitcoin despite JPMorgan co-president Daniel Pinto claiming that Bitcoin adoption is inevitable at some point. Analysts at American investment bank JPMorgan Chase have delivered another skeptical statement on Bitcoin (BTC), arguing that its current price is much higher than its fair value. In a regular memo for investors, JPMorgan argued that cryptocurrencies like…
Read more
The crypto mining company has been on an absolute tear this month. On Thursday, the stock corrected sharply lower. Shares of crypto mining company Riot Blockchain (RIOT) plunged on Thusday, giving back a portion of a parabolic rally that was largely driven by news of a major boost in hash rate capacity. RIOT fell 20.4%…
Read more
We didn’t learn much new in today’s hearing, but the spotlight was definitely on the gamified trading app, rather than the traders on r/WallStreetBets. Vlad Tenev, Robinhood’s CEO, very much occupied the hot seat in today’s hearing before the House Financial Services Committee over January’s market volatility. None of the representatives seemed particularly interested in…
Read more
Total crypto market cap overtook Google stock days after Tesla announced a $1.5 billion Bitcoin investment. Cryptocurrency markets have hit a significant milestone shortly after Elon Musk’s Tesla officially announced their investment in Bitcoin (BTC). For the first time in history, the crypto market has surpassed Alphabet’s GOOG and GOOGL in terms of market capitalization.…
Read more
Amid the r/Wallstreetbets revolution, several altcoins are falling prey to pump-and-dump schemes. The rise of interest in cryptocurrencies amid Bitcoin (BTC) and Ether (ETH) bull runs often goes hand in hand with the proliferation of scams and manipulation schemes related to various altcoins. One of the main manipulation schemes running in the crypto markets is…
Read more
