SEC Delays Approval of Bitcoin Exchange Fund; Gas Prices Continue Climb
The U.S. Securities and Exchange Commission (SEC) delayed completion of its review of SkyBridge Capital's application for a Bitcoin exchange traded fund to late August. Gasoline prices have jumped about 40% since the first of the year and are likely to go higher.
U.S. Most Crypto-Ready Nation; Supermarkets Overstock to Beat Inflation
A survey by Crypto Head, a crypto education site, ranked the U.S. first followed by Cypress, Singapore and Hong Kong,
'Whales' Drive Bitcoin Higher; Retail Sales Surge, Wages Rise
Bitcoin rose Monday as major investors expanded their holdings at good prices. Workers benefit as lockdown restrictions ease, retail sales surge.
Miami Emerging as U.S. Crypto Capital; Gen Z Embraces Used Cars
Top crypto talent is gathering in Miami and may soon develop critical mass. The reasons: Low taxes, low operating costs, and a welcoming business environment.
Company Develops Sustainable Bitcoin Mining Method; New Home Sales Fall
Microgrids might be a build-to-suit answer to growing concern about the source of energy used in Bitcoin mining.
More Companies Accepting Bitcoin as Payment; Foreclosure Protections Expand
The number of companies and organizations accepting Bitcoin as payment continues to grow despite the cryptocurrency's wild price swings.
U.K. Bitcoin Regulation False Alarm; Economy on Pace for 6.7% Growth
Many news reports said Monday that the FCA had banned Binance Holdings, the world's largest cryptocurrency exchange when, in fact, the regulator had simply reminded the company about dealing in derivatives. S&P Global expects the economy to grow at 6.7% this year and 3.7% in 2022, up from the initial estimate of 6.5% and 3.1%.
Big Investors 'Buying the Dip' in Bitcoin; Market High on Cannabis Firms
"On-chain signals indicate that strong hands are aggressively buying the Bitcoin dip," Alexandra Clark, a trader at London-based GlobalBlock, said in a research note. And marijuana-related stocks are getting a close look from investors as more states legalize the drug or decriminalize possession of small amounts for personal use.
El Salvador Promotes Bitcoin; Portland Battles Back After Protests
The President of El Salvador has a deal for the nation's citizens: sign up for an e-wallet and receive free Bitcoin valued at $30.
Outlook for Bitcoin Bright Despite Stumbles; Wind Power Passes Hydro in US
"Despite the near-term volatility and recent headlines from China, we think ultimately the changes leave Bitcoin in a healthier and more resilient place," Greg Cipolaro, head of research at New York Digital Investment Group, said in a report.
Elon Musk in Crypto Radio Silence As Bitcoin Swoons; Housing Market Red Hot
It's unclear exactly what Tesla paid for Bitcoin when it invested $1.5 billion in the crypto last February, but it's almost certainly higher than the current price. On Tuesday, Bitcoin fell below $30,000 for the first time since late January.
Bitcoin's Price Lowest Since January; U.S. Top Destination for Global Money
China's continued crackdown on Bitcoin mining sent the value of the world's leading cryptocurrency below $30,000 for the first time since late January. The U.S. remaining the top destination for overseas money in 2021 and 2022, the United Nations said in a report.
Bitcoin Slips as Dollar Rises; COVID-19 Hit Poor Hardest
Bitcoin fell about 7% Monday, dipping below $33,000 for the first time since June 8. Employment for workers earning less than $27,000 a year fell 23.6% in the first four months of 2020, while employment for workers earning $27,000 to $60,000 fell just 4.5%.
Producers Finance Film Selling NFTs; Paper Maps Popular Despite GPS
The producers of the film The Underground Sistine Chapel hope to cover all expenses and perhaps get seed money for their next project by selling NFTs based on their feature film. Put your GPS away: Rand McNally Large Scale Road Atlas was on the Publishers Weekly bestseller list for 45 weeks.
World Bank Denies El Salvador Bitcoin Request; Fed Keeps Rates Low
"While the government did approach us for assistance on Bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings," a World Bank spokesperson told Newsweek.
Central Banks Creating Cryptos; Retail Slumps, Bars and Restaurants Boom
Nearly 90% of the world's central banks are developing digital currencies, apparently pressured by the rise of Bitcoin and other crypto currencies. Retail sales dipped in May, but spending at bars and restaurants surged as COVID-19 vaccination rates rose.
Hedge Funds Turning to Bitcoin; Consumers Keeping Cars Longer
Intertrust, a publicly traded international trust and corporate management firm based in the Netherlands, surveyed 100 hedge fund managers worldwide and found that some firms plan to allocate as much as 10% or more of their portfolios to cryptocurrencies.
Bitcoin Rises on Elon Musk's Tweets; Housing Rural Surge Pre-Dates COVID-19
A survey conducted by Voyager Digital, a Jersey City, New Jersey-based provider of crypto brokerage services, found that 81% were more confident of the future of cryptocurrencies and 87% planned to increase their holdings.
El Salvador Legalizes Bitcoin, Will Others Follow? Secrets of Mall Survival
El Salvador's legislature has adopted a bill making Bitcoin legal tender, the first nation to recognize the cryptocurrency as an acceptable form of payment for all debts. "Although enclosed shopping centers are continuing a contraction...the long-term future of malls is bright," an expert said.
Bitcoin Claws Its Way Back Up; Retail Sales on the Rise
Bitcoin's 10% climb in the last two days raises a basic question: Is this a dead cat bounce or the foundation for a rally? The National Retail Federation (NRF) said it expects retail sales to increase 10.5% to 13.5% this year compared with 2020.
Bitcoin Falls, But MicroStrategy Buys; World Bank: Recovery Will Be Uneven
The Tysons Corner, Virginia-based analytics and business-intelligence company plans to offer $500 million in debt to acquire additional Bitcoin. The World Bank says top economies will see their fastest recovery in 80 years, but many poor nations will struggle to regain pre-pandemic income levels.
Trump: Bitcoin a 'Scam'; 'Shrinkflation' Raising Retail Costs
"In true Trump style, his words are contradictory, claiming that Bitcoin is both a 'scam' and yet it competes with the dollar," Jason Deane, Bitcoin analyst at Quantum Economics, in London, told Newsweek.
Elon's Bitcoin Tweets Rile Faithful; Economists Struggle Comparing 2021-20
Elon Musk's recent comments about Bitcoin undercut the efforts of investors to establish it as an asset class, and could erode Musk's standing as leader of his two major companies, Tesla and SpaceX.
Bitcoin Finds Portfolio Niche; Crude Oil Reaches Pre-Pandemic Price
"It's not about avoidance but rather portfolio construction based on an individual's investment goals or situation," Bill Herrmann, Co-Founder and Managing Partner at Wilshire Phoenix in New York told Newsweek.
Bitcoin Will Recover, But New Highs Unlikely; Retailers Eye Expansion
"Several on-chain and network indicators have reflected a bullish skew over the week [for Birtcoin], albeit most being relatively neutral for the short and medium-term," Lennard Neo, a certified financial analyst and head of research at Stack Funds in Singapore, said in a research report.
Male Millennials Dominate Crypto Investing; Musk Tweets Getting SEC Notice
Males outnumber females about 86% to 14% in the crypto market, while millennials, ages 25 to 35, make up 41.5% of Bitcoin investors. Meanwhile, Elon Musk keeps tweeting, and the SEC is taking notice.
Crypto Wobbles, with more 'Puts" than 'Calls'; Dollar Ticking Down
Crypto prices have recovered from the lows, but investors remain cautious. Meanwhile, the dollar continued to tick down as traders assessed U.S. inflation, job growth and consumer spending amid the economic rebound from the COVID-19 lockdown.
NFTs Can Be Trojan Horse for Buyers; PC Sales Pandemic Surge Continues
"Copyright in NFTs is not automatically assigned," Anita K. Sharma, an entertainment attorney and managing partner of Sharma Law in Brooklyn, New York, told Newsweek. "The buyer owns the tokens that are in their digital wallet, but not necessarily the artwork associated with the NFT."
Crypto Is Key to Ransomware; Biden Says Canada Unfair to U.S. Dairy Farmers
"We can live in a world with cryptocurrency or a world without ransomware, but we can't have both," said Lee Reiners, executive director of the Global Financial Markets Center at Duke University's Law School in Durham, North Carolina. "It is time for the adults to tell the children: Party's over."
'Extreme Fear' on Bitcoin Fear and Greed Index, Housing Demand Surges
The Bitcoin fear and greed index registered "extreme fear" Wednesday—but that could be a buying opportunity for gutsy investors, especially as the timid have sold into a falling market.