Bitcoin - Business Metrics

Gold rallies as Bitcoin languishes around $56K

May 7, 2021 David Alonge

Gold rallies as Bitcoin languishes around $56K Bitcoin was trading sideways on Friday, even as gold rallied to three-month highs amid a renewed drop in U.S. real (inflation-adjusted) bond yields. The cryptocurrency was changing hands for $56,500 at 11:00 UTC, continuing a week-long consolidation in the range of $52,000 to $59,000, according to CoinDesk 20 data. Gold, a traditional store-of-value asset, rose to $1,820 per ounce, the highest level since Feb. 16. The move came a day after the U.S. 10-year real yield fell to a three-month low…

As Ethereum gives Bitcoin CAP a hot chase

May 4, 2021May 4, 2021 Banjo Olaniran

… As Ethereum gives Bitcoin CAP a hot chase Ethereum is giving Bitcoin, the world’s most popular cryptocurrency, a hard chase in the crypto market. Ethereum is now valued at $3,000 and makes up 15 per cent of the crypto market, according to tracker CoinGecko. Bitcoin is valued above $58,000 and accounts for about 46 per cent of the crypto market. This is down from the 70 per cent share of the crypto market it held at the beginning of the year. According to data from CoinMarketCap on Monday,…

UK considers new digital currency, Britcoin

Apr 20, 2021 Business Metrics

UK considers new digital currency, Britcoin Agency Report Britain is looking into the possibility of creating a digital currency that households and businesses could use instead of cash – an initiative the finance minister dubbed “Britcoin”. The use of cash has fallen during the coronavirus pandemic as people try to avoid contact, and several central banks across the world are considering whether to create digital money that would allow online payments without going through banks. The Bank of England and Treasury announced Monday the creation of a Central…

Bitcoin eyes bull revival as dip below $54,000 wipes out millions more in leverage

Mar 16, 2021 Business Metrics

Bitcoin eyes bull revival as dip below $54,000 wipes out millions more in leverage Bitcoin has erased the losses from its latest price dip and could soon see more gains as normalcy returns to the derivatives market. Having hit a low of $53,350 during the Asian hours the cryptocurrency is trading 1% higher on the day near $56,200 at press time, according to CoinDesk 20 data. Selling pressure faded near the widely tracked monthly volume-weighted average price (VWAP) of $53,000. The market now looks ready for a fresh move…

Bitcoin hits $51k as short-term bull case strengthens amid weakening dollar

Mar 3, 2021 Banjo Olaniran

Bitcoin hits $51k as short-term bull case strengthens amid weakening dollar The U.S. dollar index (DXY) is showing signs of a short-term top as the price of Bitcoin (BTC) demonstrates signals of a short-term rally. There is a narrative that the price of Bitcoin often coincides with a drop in the value of the dollar. Since stores of value, like gold and Bitcoin are priced against the dollar, theoretically, a downtrend in the DXY would likely have a positive impact on the price of BTC. Bitcoin retakes $50,000 again…

Bitcoin collector MicroStrategy invests fresh $1bn on Bitcoin

Feb 25, 2021 Banjo Olaniran

Bitcoin collector MicroStrategy invests fresh $1bn on Bitcoin Major bitcoin corporate backer MicroStrategy Inc. said today, Wednesday, that it bought another 19,452 bitcoin, worth around $1.03 billion, swelling its holdings of the cryptocurrency and sending the company’s shares 8 per cent higher in premarket trading. The company, whose chief executive officer, Michael Saylor is one of the most vocal proponents of bitcoin, bought the cryptocurrency in cash at an average price of about $52,765 each. MicroStrategy, the world’s largest publicly traded business intelligence company, spent last year steadily amassing…

Bitcoin defies U.S. rising bond yields to hit historic $51,000

Feb 17, 2021 Ugochi Emmanuel

Bitcoin defies U.S. rising bond yields to hit historic $51,000 Despite an uptick in U.S. government bond yields, Bitcoin’s dizzying bull run is showing no signs of slowing down as the asset continues to attract more funds its inflating its value. The cryptocurrency market leader set a new lifetime high of $51,348 early Wednesday, having penetrated the psychological level of $50,000 on Tuesday for the first time, according to CoinDesk 20 data. Prices have risen by 53 per cent this month alone. The latest move higher comes on the…

Bitcoin price hits $50,000 for first time in history

Feb 17, 2021 Business Metrics

Bitcoin price hits $50,000 for first time in history The price of Bitcoin has hit $50,000 for the first time in history. The cryptocurrency has been in the spotlight recently; receiving endorsements from Elon Musk, Tesla CEO, and Mastercard. Bitcoin, the world’s largest cryptocurrency, garnered renewed interest in January when Musk began to tweet and about his investment and updated his Twitter bio with “#bitcoin”. Following in the footsteps of its CEO, Telsa announced that it had updated its investment policy to get “more flexibility to further diversify and…

‘Unstoppable’ Bitcoin surges 11% over $43,000 on Tesla News

Feb 8, 2021 David Alonge

‘Unstoppable’ Bitcoin surges 11% over $43,000 on Tesla News Bitcoin jumped to fresh record highs on today after U.S. electric car manufacturer Tesla announced its purchase of $1.5 billion of the cryptocurrency. The largest cryptocurrency surged at least 11 per cent to more than $43,000, surpassing the previous peak price of $41,962 reached Jan. 8, according to CoinDesk 20 data. Tesla, headed by Elon Musk, said in a U.S. Securities and Exchange Commission filing that the company has invested an aggregate $1.5 billion in bitcoin and is open to…