Sunday, November 24

Tag: bitcoin

Billionaire investor Paul Tudor Jones says he’s loading up on bitcoin (GBTC) | Currency News | Financial and Business News
24May Antoinette TurnerBy Antoinette TurnerNo Comments
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Billionaire investor Paul Tudor Jones says he’s loading up on bitcoin (GBTC) | Currency News | Financial and Business News

REUTERS/Eduardo Munoz Billionaire investor Paul Tudor Jones is buying bitcoin, Bloomberg reported Thursday. The hedge fund manager said his fund may hold as much as a low single-digit percentage of its assets in bitcoin futures to help protect against a rise in inflation, according to the report. Paul Tudor Jones is the founder and CEO of Tudor Investment Corp., which managed $38.4 billion as of March 30, according to data from the SEC. Visit Business Insider's homepage for more stories. Billionaire hedge fund manager Paul Tudor Jones is buying bitcoin, Bloomberg reported on Thursday. Jones told his clients in a market outlook note that he believes bitcoin will serve as a hedge against a jump in inflation he thinks is coming, due to central banks printing money and sharply expanding their ...
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A hedge-fund chief overseeing $2 billion shares 5 reasons he sees bitcoin surging 900% by the end of 2021 as Paul Tudor Jones dives into the asset | Currency News | Financial and Business News
23May Antoinette TurnerBy Antoinette TurnerNo Comments
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A hedge-fund chief overseeing $2 billion shares 5 reasons he sees bitcoin surging 900% by the end of 2021 as Paul Tudor Jones dives into the asset | Currency News | Financial and Business News

Reuters / Dado Ruvic Mark Yusko, the CEO and chief investment officer at Morgan Creek Capital Management, shared several reasons he thinks bitcoin's price will hit $100,000 by the end of 2021. Yusko said it would be "perfectly logical" for bitcoin to hit $400,000 to $500,000 if its market capitalization moves toward that of gold. The call comes after the legendary investor Paul Tudor Jones' recent disclosure that he's built a stake of bitcoin futures, making him the latest investment mogul to buy the cryptocurrency. Click here for more BI Prime stories. With the legendary investor Paul Tudor Jones disclosing purchases of bitcoin futures for the first time, it's become increasingly clear that market denizens who were once skeptical about the cryptocurrency are revisiting their stance. But M...
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Crypto market grows by $13 billion as bitcoin breaks the $10,000 threshold for the first time since February | Currency News | Financial and Business News
23May Antoinette TurnerBy Antoinette TurnerNo Comments
PR Wire

Crypto market grows by $13 billion as bitcoin breaks the $10,000 threshold for the first time since February | Currency News | Financial and Business News

Reuters The cryptocurrency market added $13 billion in value over the past day as bitcoin jumped more than 6% Thursday evening. Bitcoin has rallied more than 100% from its March 16 low and has eclipsed $10,000 for the first time since February. The three major reasons for the move include anticipation of the next bitcoin halving, institutional investors adding exposure, and the perception that bitcoin would protect against a surge in inflation. Visit Business Insider's homepage for more stories. Bitcoin jumped 6% on Thursday, causing a $13 billion surge in market value for the entire cryptocurrency market, according to data from Coindesk. The entire cryptocurrency market is worth a combined $267 billion as of Friday morning, data from CoinMarketCap shows.  The top three...
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Hedge funds posted their best month since the financial crisis in April amid the torrid market rebound | Currency News | Financial and Business News
23May Antoinette TurnerBy Antoinette TurnerNo Comments
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Hedge funds posted their best month since the financial crisis in April amid the torrid market rebound | Currency News | Financial and Business News

Spencer Platt/Getty Images Hedge funds posted their best month in more than a decade as March's lows gave way to a resounding rally through April. Eurekahedge's Hedge Fund Index gained 3.7% last month, its biggest jump since May 2009. A combination of Federal Reserve action, risk-on attitude, and optimism toward COVID-19 vaccine trials pushed investors back into the stock market. Major US indexes posted their best month since 1987 and rallied out of bear market territory.  Nearly 80% of the index's members gained in April, with 10% of managers posting double-digit returns. Eurekahedge's North American Hedge Fund Index jumped 5.4%, while its European peer gained 3.5%. The index for Asia excluding Japan posted the biggest regional win with a 6.5% return, while the Japan-focused hedg...
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From precious metals to loans on the brink of default: Investors are flocking to these assets after the coronavirus market meltdown
23May Antoinette TurnerBy Antoinette TurnerNo Comments
PR Wire

From precious metals to loans on the brink of default: Investors are flocking to these assets after the coronavirus market meltdown

Mike Segar/Reuters Periods of widespread selling and cash-hoarding shifted the sands of the investing landscape to reveal new opportunities. Several of Wall Street's biggest firms are raising billions of dollars to pile into distressed debt, viewing the Federal Reserve's relief measures as a backstop for ailing corporations. Significant spending on coronavirus relief measures will drag on global currencies, Bank of America projected, setting gold up to skyrocket through the economic downturn. Even bitcoin is breaching key thresholds, and some investors are turning to the volatile asset for the first time "as a hedge against currency wars," Ed Moya, senior market analyst at OANDA, wrote Thursday. Visit the Business Insider homepage for more stories. Weeks of indiscr...
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Coinbase CEO Avoids Mainstream Media, Prefers YouTube, Podcasts and Blogs
23May Antoinette TurnerBy Antoinette TurnerNo Comments
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Coinbase CEO Avoids Mainstream Media, Prefers YouTube, Podcasts and Blogs

Brian Armstrong the Coinbase CEO, has joined the list of cryptocurrency executives who prefer to leverage their own blogs and platforms to distribute information to the media, as opposed to direct contact with any journalists. Coinbase CEO, Brian Armstrong noted in a tweet that company leaders seem increasingly unwilling to engage with the mainstream media and prefer to use social media platforms like Youtube, Twitter, and their own blogs. Trend I'm noticing: most execs/CEOs don't want to speak with mainstream media as much as they did even a few years ago. Our customers are on YouTube/podcasts/social media - not reading mainstream media. And companies are able to control their own distribution channels. — Brian Armstrong (@brian_armstrong) May 21, 2020 Coinbase CEO Circumvents...
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Singapore State Investor Temasek Joins Libra Association, Facebook’s Global Digital Currency Project
23May Antoinette TurnerBy Antoinette TurnerNo Comments
PR Wire

Singapore State Investor Temasek Joins Libra Association, Facebook’s Global Digital Currency Project

Singapore’s state investor, Temasek Holdings has officially been named a member of the Facebook-backed digital currency project Libra. Temasek as a portfolio value of 313 billion Singapore dollars (roughly $219 billion), making it one of the more prominent backers of Libra.      The Libra Association, an independent group based in Switzerland has also welcomed crypto investor Paradigm and Slow Ventures, a private equity firm.    Facebook, the company behind Libra, announced the digital currency initiative in 2018, which took the world by storm with its controversial project. With the ICO bubble having expanded exponentially in 2017, the public started to become aware of cryptocurrencies. Digital currency and cryptocurrency were still seen in the light of being scandalous, illicit, and unf...
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Visa Applies for Blockchain-Based Digital Currency Patent to Potentially Remove Physical Currency
23May Antoinette TurnerBy Antoinette TurnerNo Comments
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Visa Applies for Blockchain-Based Digital Currency Patent to Potentially Remove Physical Currency

Visa applied for a new patent application to create a blockchain-based digital currency on a centralized computer, according to a publication by the US Patent and Trademark Office (USPTO).     The patent was originally filed in November 2019, and was described as “Digital Fiat Currency.” The US dollar was mentioned as one of the fiat currencies to be used potentially, although the patent could also apply to other central bank digital currencies including the pound, yen, and the euro.    Filed by Simon J. Hurry and Alexander Pierre with the Visa International Service Association, the application noted that Ethereum could be used as a possible network for the digital currency.   The central entity computer described in the patent will receive requests with details including the serial numbe...
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China’s WeBank Makes its First Move to Take its Blockchain Global, Partnering with Singapore’s OpenNodes
23May Antoinette TurnerBy Antoinette TurnerNo Comments
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China’s WeBank Makes its First Move to Take its Blockchain Global, Partnering with Singapore’s OpenNodes

China’s top digital bank WeBank has announced its partnership with Singaporean government-backed OpenNodes. This partnership will allow China’s FISCO BCOS blockchain platform to be brought to Singaporean academics for innovation and new initiatives. FISCO BCOS was deemed to be China’s version of Hyperledger Fabric when it was launched in 2018.      The Financial Blockchain Shenzhen Consortium (FISCO) is backed by more than 100 Chinese organizations, including Huawei, Tencent, JD Finance, and WeBank, which is partly backed by Tencent. Developed by FISCO, the enterprise blockchain protocol was the first blockchain to be supported by China’s Blockchain Service Network.   WeBank’s executive vice president and Chief Information Officer, Henry Ma said, “We seek to spur the next-generation talen...
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Bitcoin on Showtime: Winklevoss Biographer Writes BTC Mining Plot for Billions
23May Antoinette TurnerBy Antoinette TurnerNo Comments
PR Wire

Bitcoin on Showtime: Winklevoss Biographer Writes BTC Mining Plot for Billions

Sunday’s episode of the Showtime series Billions featured a cryptocurrency mining scheme being executed in a prep school. The Bitcoin focused episode was written by Ben Mezrich, who also wrote the book Bitcoin Billionaires which tells the story of the Winklevoss twins, the venture capitalist’s behind the Gemini crypto exchange who are reported to own about 1% of Bitcoin’s total supply between them. Mezrich teased the episode on Twitter: Billions this Sunday night... I’m not sayin’ there’s definitely gonna be some Bitcoin... I’m just saying I did happen to write the episode...I mean, just sayin’... — Ben Mezrich (@benmezrich) May 14, 2020 Beg, Bribe, Bully The episode entitled “Beg, Bribe, Bully” told the story of Gordie Axelrod, son of the shows main character Bobby Axelrod. Gor...
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