The bear market doesn’t appear to have dented Bitcoin bull Tim Draper’s enthusiasm for the cryptocurrency. Speaking on stage at Web Summit 2022, the billionaire VC argued that his prediction that the cryptocurrency will hit $250,000 still holds—though he’s “extended it by six months.” Sporting one of his Bitcoin ties, Draper argued that “by mid-2023, I’m expecting … Read more
The figures are in: October was the busiest month for crypto protocol exploits this year, with some $760 million stolen. The cumulative total for crypto hacks in 2022 is now at least $2.98 billion, already more than double the amount stolen through exploits in 2021, according to blockchain security firm Peckshield. Peckshield released those figures on Halloween … Read more
A peak in the U.S. dollar “feels several quarters away,” Goldman Sachs strategist Kamakshya Trivedi wrote in a note the bank’s clients. “We do not expect the Fed to embark on easing until 2024, and a trough in growth also seems months away,” he wrote. Checking the experience of the 1970s – which was also a … Read more
France will review its crypto tax rules next year as it seeks to become the world’s leading blockchain hub – and won’t seek to simply replicate existing norms for stocks, Finance Minister Bruno Le Maire told local media in an interview published Monday. Le Maire told BFM TV he was concerned about crypto’s energy consumption, and about … Read more
Hundreds of thousands of brand new mining rigs that could be generating bitcoin (BTC) have never been used, further skewing the economics of cryptocurrency mining, a sector that has been hit hard by sinking prices for bitcoin and other tokens and by high energy costs. Last year, miners struggled to buy enough rigs. Manufacturers couldn’t fulfill … Read more
Payments-focused cryptocurrency XRP and MKR, the governance token of the peer-to-peer lending platform Maker, are rallying in an otherwise moribund crypto market awaiting the release of the Federal Reserve’s preferred measure of U.S. inflation: core personal consumption expenditure (PCE). XRP traded recently at $0.492, representing an 11% gain over 24 hours and MKR changed hands … Read more
BitcoinBTCUSD –4.79% traded a new one-year low on Monday and other cryptocurrencies followed it lower ahead of what’s expected to be the third straight outsize interest rate hike from the Federal Reserve when the central bank meets this week. Bitcoin has fallen to $18,688, down 6.1% over the past 24 hours, according to CoinDesk. The world’s largest … Read more
The Biden administration’s new findings on bitcoin (BTC) mining’s environmental impact united industry advocates and critics: Both sides declared their views had support from the highest levels of the U.S. government. On Thursday, the White House’s Office for Science and Technology Policy (OSTP) released a much-anticipated 45-page report on bitcoin (BTC) mining. It detailed the pros and … Read more
The sudden burst in the market for bitcoin (BTC) might lose momentum quickly, crypto analysts said. On Friday the largest cryptocurrency by market value rallied over 10% to the $21,000 level, its largest daily gain in six months. BTC was trading at $21,180 as of 3:08 p.m. ET. As recently as Tuesday the price had … Read more
MicroStrategy (MSTR), a software developer that has become a corporate bitcoin (BTC) vault, plans to sell up to $500 million of stock to fund more purchases of the cryptocurrency. A Friday filing with the U.S. Securities and Exchange Commission revealed the stock offering, which will be for “general corporate purposes, including the acquisition of bitcoin.” The timing … Read more
