Bitcoin’s biggest public holder MicroStrategy to buy more BTC despite $690 million in impairment losses

MicroStrategy is an enterprise analytics and mobility software company that holds the most bitcoins of all public companies worldwide. It will continue to purchase the digital asset despite reporting impairment losses of $424.8 millions during the second quarter 2021. Since Q3 2020, the cumulative impairment losses have been $689.6 millions. The company owned 105,085 Bitcoins, with a […]

Bitcoin reverses its weekend rally to drop below $40 000 level

Bitcoin fell below $40 000 Monday after climbing to its highest level since May over the weekend. The biggest cryptocurrency lost 4.9% and was currently trading at $39 790 in Hong Kong as of 11:25 AM. Other virtual currencies, including Ether second in rank, also dropped. Analysts believe profit-taking was behind the declines. Vijay Ayyar is the […]

Elon Musk Says Tesla Likely to Accept Bitcoin Again

Elon Musk appears to have changed his mind regarding bitcoin. Yet again. SpaceX’s billionaire founder said that Tesla would accept bitcoin again after it dropped the cryptocurrency due to environmental concerns. Musk stated that bitcoin was shifting towards renewables. However, there was no evidence in a livestream discussion with Jack Dorsey at the B Word Conference. Musk […]

$7.5 Billion Hedge Fund Investment Manager Predicts Incoming Bitcoin Supply Shock

Troy Gayeski is co-chief investment officer at SkyBridge Capital and senior portfolio manager. The hedge fund has $7.5 billion under management. He believes that a Bitcoin supply shock could be coming. Gayeski stated that on-chain signals indicated that’strong holders’ have been accumulating bitcoin again and plan to keep it for longer periods. These holders are buying […]

El Salvador Bitcoin move will put pressure on network: JPMorgan

JPMorgan, the American megabank, continues to criticize El Salvador’s legalization of Bitcoin ( BTC), warning about the risks for the cryptocurrency and for the country. Bloomberg Sunday reported that a JPMorgan expert group, led by economist Steven Palacio, released a report suggesting El Salvador could adopt Bitcoin as legal tender. Experts stated that Bitcoin is […]