Cryptocurrency

Cryptocurrencies are speculative assets and an unstable store of value, said the Chairman of the United States Federal Reserve, Jerome Powell, on Monday, noting that the Fed is not in a hurry to introduce its own digital currency, CNBC reported. “They’re highly volatile and therefore not really useful stores of …

Morgan Stanley became the first major bank in the United States to offer Bitcoin funds among its wealth management services, CNBC first reported. The decision reportedly follows on clients’ demand to invest in the cryptocurrency, which recently surged to new record highs supported by increased institutional demand. The new option …

Investment inflows into cryptocurrencies hit a record high of $4.2 billion during the first quarter (Q1) of 2021, according to data obtained by Business Insider. As expected, the largest digital currency in the world, Bitcoin, dominated the biggest share of these investment inflows with $3.3 billion, followed by Ethereum with …

A new draft law in India could soon force a ban on cryptocurrencies, Reuters reported, citing government sources. The law would criminalize the possession, issuance, mining, trading of crypto assets, imposing fines on any violations, after a six-month grace period allowing investors to liquidate their digital assets. The Indian government …

Bitcoin fell sharply again today, Monday, after reaching an unprecedented high of $61,781.83 at the weekend, after US President Joe Biden signed his $1.9 trillion financial stimulus package and directed him to speed up vaccinations. In early trading in London, the world’s most popular cryptocurrency fell below $55,000 for a …

Bitcoin rose on Thursday by more than 2%, amid expectations that increased stimulus spending in the United States could help raise demand for the world’s largest cryptocurrency in terms of market capitalization. The digital currency is re-approaching its all-time high of $58,350, which it reached on February 21. Bitcoin is …

The largest cryptocurrency by market value, Bitcoin, has surpassed the 54 levels during early trading from Tuesday’s session. While Ethereum, the second-largest cryptocurrency by market value, managed to record a remarkable performance after surpassing $1800 levels. The sharp rise in the prices of Bitcoin and Ethereum came after the two …

Goldman Sachs Group resumed the activity of its cryptocurrency trading desk, Reuters reported. As part of the Global Markets division, the bank will begin trading bitcoin futures starting next week, according to an unnamed source. The bank is reportedly exploring the potential for a bitcoin exchange traded fund (ETF). The …

Bitcoin plunged as much as 6% today, hitting its lowest level in two weeks, as turmoil in global bond markets led to higher yields and sparked sales in riskier assets. The largest cryptocurrency in the world fell to a low of $44,451 before recouping some of its losses. And in …

Bitcoin returned to gains on Wednesday, following a steep decline on Tuesday that erased all of its weekly gains. The world’s largest cryptocurrency is up by 4.67% at $49,580.6, reducing its losses during the past seven days to 3.34%. Earlier today, the digital currency exceeded the $50,000 level. Square, a …