Investigators lack full authority to pursue the financial transactions of alleged domestic terrorists using Bitcoin or other cryptocurrencies, witnesses told members of Congress Thursday.
"The human race has never had a monetary system with this much versatility before," said Bitcoin Analyst Jason Deane of Quantum Economics, London.
The Microsoft co-founder and philanthropist discussed Tesla, bitcoin and the U.S. handling of the COVID pandemic on the invitation-only app. Here's what you may have missed.
Bitcoin rebounded Wednesday after a sharp downturn earlier this week as major companies continued to buy the cryptocurrency and hold it as a long-term investment. Bitcoin had plunged from $58,356 on Sunday, a record high, to as low as $45,501 on Tuesday.
Major cryptocurrencies have taken a hit and are down about 14% worldwide, led by Bitcoin, which represents about 60% of the market by value, CoinMarketCap reported.
"A Biden White House and blue Senate is a very bullish political backdrop and a potential 'game changer' for Tesla and the overall EV sector in the US, with a more green-driven agenda now certainly in the cards over the next few years," said Daniel Ives, an analyst at Wedbush Securities.
It's not entirely clear where the meme started, but it's spread quickly among crypto holders.
"Crypto assets continue to rank as the poorest hedge for major drawdowns in equities, with questionable diversification benefits at prices so far above production costs, while correlations with cyclical assets are rising as crypto ownership is mainstreamed," JP Morgan said in a research report.
The CEO of the electric vehicle company explained his stance on Bitcoin after it rallied to record highs.
"Given the constant inflow of corporate participation and retail investors, we expect Bitcoin prices should continue to be skewed to the upside, at least in the near term," Lennard Neo, an analyst at Singapore-based Stack Funds, said in a research report.
Bitcoin's surge to $50,000 for the first time has created a new acronym: HOFDL—Hold On For Dear Life.
While speaking with Newsweek, Glenn Goodman, author of The Crypto Trader and cryptocurrency contributing expert for the London School of Economics, suggested that the comments from Rieder show that Bitcoin has become more "respectable."
One of the defendants is a North Korean operative who was charged in the 2018 Sony Pictures hack.
Bitcoin climbed above $50,000 for the first time Tuesday as major companies continue to show increased interest in the cryptocurrency. Through Friday, Bitcoin has gained about 65% since January 1 and is up about 360% in the last 52-weeks.
Investigators said the "Joker's Stash" marketplace, which dealt in stolen credit cards, log-ins and identity information which it sold for cryptocurrency, pocketed at least $1 billion, Reuters reported from London.
The mission of the new crypto trust is to "make bitcoin the internet's currency." It will initially be focused on teams based in Africa and India, Dorsey said.
Miami Mayor Francis Suarez introduced a resolution allowing city workers the option of being paid in Bitcoin, which was passed by the City Commission late Thursday evening.
Mastercard said it plans to provide support for some cryptocurrency transactions, following Tesla and Wall Street firms into the hot and volatile sector. "We are preparing right now for the future of crypto and payments," a Mastercard official said.
While making an appearance on CNBC, though, Uber CEO Dara Khosrowshahi did float the possibility that people could eventually be able to use cryptocurrencies to pay for Uber services.
"Arguably the most entertaining outcome, the most ironic outcome, would be that Dogecoin becomes the currency of Earth of the future," Musk said earlier this month on Clubhouse, an audio-only app.
The 100-point Bitcoin Fear & Greed Index, published by Alternative.me, ticked up to 95 Tuesday. Zero represents "extreme fear" and 100 represents "extreme greed."
A woman allegedly paid in bitcoin and provided murder-for-hire site administrator detailed description of the intended victim.
Some say that the Tesla CEO buying into the cryptocurrency works against his company's conservation goals.
"Something with a long-term volatility of 80% can't be considered a medium of exchange," Sharmin Mossavar-Rahmani, head of consumer and investment management at Goldman Sachs, said in remarks at a recent conference.
Some fear stimulus spending to offset the worst of the economic shutdown during the COVID-19 pandemic and the Federal Reserve's injection of billions into the economy threaten the U.S. dollar's standing as the world's reserve currency.
Cryptocurrency investors may face a legal thicket at tax time. Investors must report capital gains on their IRS tax returns, and U.S. investors may be required to complete the Treasury Department's Foreign Bank and Financial Accounts statement if the cryptocurrency is held in a foreign exchange.
The tweets marked the latest chapter in the tongue-in-cheek relationship between SpaceX and Tesla CEO the cryptocurrency created as a joke in 2013.
Dogecoin's price surge has sparked renewed interest in other cryptocurrencies, including Bitcoin and Ethereum.
India's Parliament is expected to consider a bill to ban "private" cryptocurrencies, with some as yet unspecified exceptions, which would allow the government to create a state-sanctioned digital alternative.
Users should be aware of any fees that may apply with Bitcoin purchases, depending on the cryptocurrency exchange platform accessed.