Morgan Creek Capital CEO Mark Yusko predicts the price of one Bitcoin (BTC) could reach $150,000 by the end of the year – more than double its current price. In an interview with CNBC’s Fast Money on Saturday, the hedge fund manager argued that Bitcoin’s fair market value is currently $50,000, based on Metcalfe’s law...
According to CNBC’s Andrew Sorkin investors aren’t buying Bitcoin (BTC) as an inflation hedge. During an April 1 interview with Pomp Investment founder Anthony Pompliano, both debated whether BTC’s theoretical role as a “risk off” asset is a real thing or a mere narrative driven by speculators. Bitcoin: Risk On Or Inflation Hedge? Pompliano argued...
Spot Bitcoin (BTC) exchange-traded funds (ETFs) saw outflows on Monday as the flagship cryptocurrency dropped below $67,000. According to data from investment firm Farside, outflows from Grayscale’s Bitcoin ETF (GBTC) surged once again, reaching over $300 million on that day. The combined net outflow for Bitcoin spot ETFs reached $85.84 million, driven primarily by the significant...
The Bitcoin (BTC) price is eyeing a possible breakout to the south of the $65,000 level as the market readies itself for a potential $2.1 billion sale of confiscated Silk Road Bitcoin tokens by the US government. A wallet associated with the US Department of Justice just moved 30,174.7 BTC tokens to a Coinbase wallet....
Bitcoin spot ETFs saw record monthly volume in March, tripling numbers from the previous two months with a whopping $111 billion traded. Bitcoin ETF Smashing Success The funds collectively traded ~$42 billion in February, and ~$25 billion in January, when they first went live. Since that time, Blackrock’s iShares Bitcoin Trust (IBIT) has overtaken the...
Goldman Sachs chief investment officer Sharmin Mossavar-Rahmani, said in an interview with the Wall Street Journal, Bitcoin is not considered an investment asset class, adding “we’re not believers in crypto.” Wall Street has been coming round to the idea of cryptocurrency as an asset class with many traditional financial institutions such as BlackRock and Fidelity...
As the ‘halving’ event nears, Bitcoin price predictions become increasingly significant, with the current value at $66,125 hinting at future trends. The market’s technical indicators suggest a decisive phase ahead, with potential shifts in investor sentiment and market dynamics poised to influence Bitcoin’s trajectory. El Salvador Unveils Open-Source Bitcoin Diploma to Boost Global Financial Literacy...
Cathie Wood’s ARK 21 Shares Bitcoin exchange-traded fund (ETF) has recorded daily outflows of over $87 million, marking the first time it witnessed larger daily outflows than Grayscale’s Bitcoin Trust (GBTC). According to data from Farside Investors, ARK 21Shares Bitcoin ETF (ARKB) saw outflows amounting to $87.5 million on Tuesday, which is approximately equivalent to 1,300 BTC. This...
Bitfinex Derivatives, the derivatives platform of iFinex Financial Technologies Limited, is expanding its offerings with the launch of two new volatility-focused perpetual futures contracts. These contracts, the Bitcoin Implied Volatility Index (BVIVF0:USTF0) and the Ethereum Implied Volatility Index (EVIVF0:USTF0), aim to capture the market’s sentiment regarding future price movements for the two leading cryptocurrencies. Unlike...
Bitcoin is becoming a valuable tool to escape high inflation in countries with less stable currencies, according to Ark Invest CEO Cathie Wood. Cathie Wood’s Bitcoin Thesis The investor – whose asset management firm is a long-time bull on AI and blockchain – argued that little-discussed “currency devaluations” are part of what’s driving the asset’s...