Recent News

Buffett Buys Gold Not Stocks!

REUTERS FRI AUG 14, 2020 / 4:35 PM EDT Berkshire reduces Wells Fargo, JPMorgan, Goldman stakes; adds Barrick Gold   (Reuters) – Warren Buffett’s Berkshire Hathaway Inc said on Friday it has reduced its investments in some of the largest U.S. banks, lowering its stakes in Wells Fargo & Co and JPMorgan Chase & Co and eliminating a stake in Goldman Sachs Group Inc In a regulatory filing detailing its U.S.-listed investments as of March 31, Berkshire also disclosed a new 20.9 million share investment in Toronto-based Barrick Gold Corp,…

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Gold to Stay Above $2,000

FX Empire Gold Prices Expected to Stay Above $2,000, on Growing Global Geopolitical Uncertainty Adesina Olumide August 9, 2020, 12:09 AM The precious metal prices, however, remained above $2,000 a critical support level, showing the pullback in prices recorded recently might be for the short term. Gold traders are still relatively bullish on growing global geopolitical uncertainty on what will follow in the months ahead. President Trump is likely to increase more pressure on the Chinese ahead of the US Presidential election scheduled to hold in November. China presently has…

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Investors Move 10% of Their Gold From Hong Kong Amid Financial Censorship Fears

Hong Kong investors are moving their gold offshore as China’s new national security law prompts fears of financial censorship. Some 10% of private holdings have been moved to safer jurisdictions such as Singapore and Switzerland since the beginning of protests in Hong Kong last year. In a recent interview, Joshua Rotbart, head of Hong Kong-based gold dealer and storage provider J Rotbart & Co, said the new legislation has revived the bullion flight. “Many clients now perceive Hong Kong as riskier than other jurisdictions,” Rotbart said. The development comes as…

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Nasdaq-Listed Company Sued for Backing $2 Billion Loans With 83 Tons of Fake Gold

The Nasdaq-listed company that allegedly used 83 tons of fake gold bars as collateral to secure loans worth about $2 billion from multiple financial institutions in China is now in default and facing several class-action lawsuits. $2 Billion Fake Gold Scheme Unravels The gold industry was recently shaken when it was discovered that a U.S. publicly-traded company was allegedly using 83 tons of fake gold bars to secure loans worth $2 billion in China. Kingold Jewelry Inc. is based in Wuhan, China, but it is listed on Nasdaq in the…

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Germany Begins Closing Down All Bitcoin Unlicensed ATMs

Germany’s Federal Financial Supervisory Authority (BaFin), the country’s top financial regulator responsible for regulating crypto service providers, has begun actively closing down unauthorized bitcoin ATMs, a BaFin spokesperson has confirmed to news.Bitcoin.com. All Unauthorized Bitcoin ATMs to Shut Down German financial regulator BaFin has begun actively closing down all unlicensed bitcoin ATMs in the country. This followed Germany’s new regulation that went into effect in January, requiring crypto service providers to obtain authorization from BaFin. A spokesperson for BaFin told news.Bitcoin.com: Currently, BaFin is taking action to shut down all…

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Goldman Sachs Cryptocurrency: Possible Collaboration With JPMorgan and Facebook

Goldman Sachs is considering creating its own cryptocurrency. Having recently appointed a new head of digital assets, the company indicated a possible collaboration with other companies, including JPMorgan and Facebook. JPMorgan has created the JPM coin and Facebook has proposed the Libra cryptocurrency project. Goldman Sachs’ Cryptocurrency Plan Global investment bank Goldman Sachs has recently appointed a new head of digital assets, Mathew McDermott, a managing director who ran the investment bank’s internal funding operations. He has now revealed that Goldman is exploring creating its own cryptocurrency, CNBC reported on…

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Square’s Cash App Bitcoin Revenue Surges 600% to $875 Million in Q2, Profit Up 711%

Square Inc. has reported a significant bitcoin revenue increase in the second quarter. Its Cash App generated $875 million in revenue, a 600% increase from the previous year. In addition, Square’s bitcoin gross profit jumped 711%. Square Cash App’s Bitcoin Revenue Square released its performance report for Q2 2020 on Tuesday. The company’s net revenue, including bitcoin revenue, was $1.92 billion, an increase of 64% year over year. Its gross profit, including from its bitcoin business, rose 28% year over year to $597 million. Cash App, Square’s popular payment service,…

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Bitcoin Futures Open Interest Hits $19 Billion, Harsh Intraday Swings, Analyst Says ‘Fresh Rally’ Expected

The start of the week saw digital currency markets drop significantly in value, as billions of dollars were shaved off the entire crypto economy’s capitalization. A weekly report from Luno and Arcane Research shows February 23 captured the third-largest bitcoin daily trade volume in crypto history, as spot market volume saw $18 billion change hands. Moreover, crypto derivatives are surging as bitcoin futures open interest commandeered $19.1 billion on Tuesday. Volatile Bitcoin Price Fluctuations Sees Intraday Swings Close to 20% for Two Days In a Row After bitcoin (BTC) touched…

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Bitcoin Has No Intrinsic Value, Asset Is Too Volatile, Says Bank of Korea Governor

Bank of Korea Governor Lee Ju-yeol has said that crypto assets like bitcoin have no intrinsic value – put simply, a measure of what an asset is actually worth. ● Speaking in the National Assembly on Feb. 23, Lee forecast that bitcoin (BTC) will see increased price swings going forward, the local news agency Yonhap reported. ● “It is very difficult to predict the price, but its price will be extremely volatile,” said the bank chief in response to a question from a lawmaker who wanted to know whether bitcoin’s…

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Janet Yellen Sounds Like She’s Scared Of Bitcoin

Source This week, CNBC published a headline that recently-appointed U.S. Secretary of the Treasury Janet “Yellen sounds warning about extremely inefficient bitcoin.” Ironically, two days later CNBC published another article because the Federal Reserve’s systems are down. The article amplified her criticism of bitcoin’s value and energy consumption. The kicker is that it does so without actually comparing it to anything, which is absurd. So, here I am to address this one-sided journalism and lack of research. ”Treasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin…

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US Judge Dismisses Motion Against Bancor After Finding Allegations Inadequate to Give It Jurisdiction

A Manhattan federal judge has dismissed a securities fraud class action against Bancor after ruling that the plaintiff’s allegations were not enough to give the court jurisdiction. According to a report, the dismissal of the case against represents the first such ruling “in a suite of similar cases filed by crypto investors represented by Selendy & Gay and Roche Cyrulnik.” US Courts Have no Jurisdiction In their motion against Bancor, which has offices in Switzerland and Israel, the plaintiffs led by Timothy Holsworth, had argued that the protocol’s “BNT token…

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Hathor Network, $HTR Live on KuCoin, Has Just Released Exciting News: The Detailed 2021 Roadmap

PRESS RELEASE. Hathor Network ($HTR, live on KuCoin) has just released exciting news: The detailed 2021 Roadmap. Community projects are a priority and growing, especially with Hathor CEO Yan Martins having recently emphasized the relevance of Asian business development, with strong focus on Southeast Asia, China and Japan. Hathor has proven to be a very supportive platform, having brought forward announcements about kickstarting a grants program for developing use cases. Currently, focus has been on HathorSWAP and other tokens that get easily built on HTR wallet platform, also incentivizing users…

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Tether, Powell Testimony And Bitcoin Hegemony

Listen To This Episode: Apple Spotify Google Libsyn Overcast In this episode of Bitcoin Magazine’s “Fed Watch” podcast, hosts Christian Keroles and Ansel Lindner gave an update on bitcoin’s price action over the last two weeks, spoke about the Tether settlement with the NYAG, provided expert commentary on Chairman Powell’s recent testimony and dove deeply into how bitcoin fits into the macro landscape. Bitcoin’s price action has been quite volatile, but bitcoiners are used to that. After breaking out of January’s consolidation it rose 50 percent to threaten the round…

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Bitcoin Dump Saw Exchange Inflow Jump Over 1,000%, Whale Address Sells 2,700 Coins, F2pool Hawks 3,633 BTC

On Sunday, February 21, the price of bitcoin touched a new all-time high (ATH) at $58,354 and at the time, inflow into exchanges spiked as well. According to data from the onchain analysis firm, Santiment, stats indicate that exchange inflow jumped 11x on Sunday and data also shows one whale address was responsible for the second-largest bitcoin transaction in 2021. Second-Largest Bitcoin Transaction and 11x the Exchange Flow Shakes the Crypto Market Bitcoin prices jumping to new heights has sparked a lot of crypto market movement in recent months and…

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Square Adds $170 Million More in Bitcoin to Balance Sheet — Company Now Holds 5% of Total Cash Reserves in BTC

Square has bought more bitcoin, adding $170 million worth of the cryptocurrency to its balance sheet. The company now holds 5% of its cash reserves in bitcoin. Its Cash App was used by more than three million customers to purchase or sell the cryptocurrency last year. $170 Million Bitcoin Purchase Square Inc. (NYSE: SQ) announced Tuesday its fourth quarter and full year 2020 results. The company also announced that it has purchased $170 million worth of bitcoin “as part of its ongoing commitment to the cryptocurrency.” This is the company’s…

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MicroStrategy Buys $1.026 Billion Of Bitcoin

After raising more than $1 billion dollars to buy bitcoin last Friday, MicroStrategy announced today that it has completed a purchase of approximately 19,452 BTC, purchased for an aggregate price of $52,765 per bitcoin. CEO Michael Saylor announced the monumental purchase via Twitter. MicroStrategy has purchased an additional ~19,452 bitcoins for ~$1.026 billion in cash at an average price of ~$52,765 per #bitcoin. As of 2/24/2021, we #hodl ~90,531 bitcoins acquired for ~$2.171 billion at an average price of ~$23,985 per bitcoin. $MSTRhttps://t.co/FbsRYhXEhn — Michael Saylor (@michael_saylor) February 24, 2021…

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As Bitcoin Surges, Investors Find Invictus Capital’s C10

This is a promoted article provided by Invictus Capital. As the bitcoin price finds its footing among all-time high levels, following a meteoric bull run that’s been ongoing for nearly a year, investors are increasingly looking for ways to get exposure to the asset. But many of these potential Bitcoiners are also interested in the broader cryptocurrency market, as well as mitigating the volatility that is so common in the space. Many within this group have found Crypto10 Hedged (C10), a unique index fund provided by Invictus Capital that allows…

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