Bitcoin investors are abandoning crypto in favor of traditional commodities like gold amid the prolonged market slump. That’s the observation of Jan Van Eck, the CEO of investment management firm VanEck Associates. Van Eck says this is a reversal of the trend he saw in 2017, when the then-sizzling bitcoin pulled demand from gold during the crypto bull market. “I do think that bitcoin pulled a little bit of demand away from gold in 2017,” Van Eck told CNBC (video below). “Interestingly, we just polled 4,000 bitcoin investors. And their No. 1 investment for 2019 is actually gold. So gold
By CCN.com: Since early 2018, virtually every type of debt in the U.S. has achieved an all-time high, surpassing trillions of dollars, and that should make Americans wary of the recent recovery seen in the Dow Jones Industrial Average and wider U.S. stock market. Don’t Trust the Dow Jones Rebound Investors including Doubleline Capital founder
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By CCN.com: Pacific Gas and Electric (PG&E) recently floated the notion that it will probably be filing for bankruptcy. The Wall Street Journal calls this the first “climate change bankruptcy.” The company may be liable for billions in damages from recent wildfires in California. California’s fire agency found in June that PG&E’s equipment was to blame
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By CCN.com: Mike Novogratz, a billionaire venture capital and avid cryptocurrency investor, is reportedly raising $ 250 million to support crypto businesses. According to a Business Insider exclusive report, sources close to the company have revealed that Galaxy Digital is in the process of securing $ 250 million to establish a credit fund to finance crypto funds
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Chicago-based Seed CX has launched a bitcoin spot trading market for its major clients.
Despite the initial intention behind the creation of Bitcoin (BTC), the cryptocurrency movement has become increasingly reliant on adoption by big-name financial institutions to further drive the bullish thesis. With the impending launch of institutional products like the Bakkt futures exchange, many retail investors believe the next big wave of adoption could happen at any […]
By CCN.com: Money is older than recorded history. As long as money has existed, so too have counterfeiters and crooks. Issuers of currency have spent millennia preventing counterfeiting: Just consider today’s paper bills, which are printed with special dyes on watermarked stock, sport serial numbers, “security threads,” and even hologram strips. Cryptocurrencies, by virtue of
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Another Federal Reserve president has spoken out on interest rates. Neel Kashkari says there is no need for interest rate hikes right now but that the US Federal Reserve does not exist to protect investors. Though the stock markets are exhibiting “nervousness,” says Kashkari, investors have to figure out what to do next. We are
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Pomerantz Law Firm has issued a shareholder alert and, it says, is investigating Activision Blizzard and its “officers” for possible securities fraud or other “unlawful business practices.” Activision Blizzard announced its split from Destiny creators Bungie on January 10. Immediately following the announcement Activision shares plummeted nearly 10%. Investors are concerned over the loss of
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Tilray’s share price plummeted today on the expiry of its IPO lock-up period. But is the sell-off investors exiting cannabis stocks? Or, is it as simple as Tilray “insiders” cashing in their profits? Tilray’s stock lost 17.24% by the end of trading on the Nasdaq today, wiping out recent day’s gains. With its IPO, Tilray
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tZERO (TZRO), a blockchain platform for capital markets and subsidiary of Overstock.com (OSTK), has officially distributed its security tokens to investors, 3 months after the company completed its $ 134 million token offering (STO). According to a recent report by CoinDesk, which cites a letter sent to investors, tZERO CEO Saum Noursalehi has outlined the first steps toward taking […]
As CCN has reported, Jeff and MacKenzie Bezos are officially divorcing. Whether or not the divorce is the result of a months-long affair with Lauren Sanchez has not been confirmed. What we do know is that unless they change their minds, Amazon shareholders have cause for concern. MacKenzie Bezos Likely to Have Restrictions on AMZN
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The Dow Jones Industrial Average is rebounding, but computer trading bots are alerting investors to short everything. Trading Bots Suspicious of Dow Winning Streak According to quantitative investment firm AlphaSimplex, algorithmic trading bots suggest shorting three major asset classes: stocks, currencies, and commodities. “Pretty much any way you run the models, you end up net short
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Is it possible that the US Federal Reserve’s decision to tighten its balance sheet contributed to bitcoin and the wider cryptocurrency market losing steam in 2018? If so, what should crypto investors expect from the independently-run central bank in the future? Mati Greenspan, the senior market analyst at trading platform eToro, explored these and other
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Four Hong Kong investors have come out to demand refunds of the capital given to Wong Ching-kit, a businessman who sells Bitcoin mining equipment, after claiming that the 24-year-old crypto promoter scammed them. According to a report on the South China Morning Post (SCMP), the affected investors have suffered losses around HK$ 20,000 (roughly $ 25,000) to
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Non-accredited investors are finding it challenging to access investment opportunities in public-traded companies, said Paul Smith. The President and CEO of CFA Institute, an association of investment management professionals, said that public market capital has been on a decline in the US and European markets. He explained that many new ventures decide to run initial
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Billionaire Elon Musk is annoyed that Tesla shareholders want to subpoena his girlfriend, pop star Grimes (real name: Claire Elise Boucher), to question her about his infamous 2018 tweet about taking his electric-car company private. Musk’s lawyer said the move is nothing more than a cheap stunt by shareholders to pressure Musk amid their securities class-action lawsuit.
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Institutional investors trading cryptocurrency gained ground in 2018, with a number of high profile players edging in and taking a seat at the table. Increased interest from larger investors may have played a part in supporting digital assets as well as distorting the market.
Will Crypto Markets Turn Bullish Again in 2019?
Last year, reports emerged that George Soros and the Rockefeller family were beginning to take positions in the emergent crypto asset class, according to Bloomberg. The family’s $ 26 billion Soros Fund Management was supposedly considering trading digital assets. The Rockefeller family’s VC arm, Venrock, decided to take a different approach by partnering with Coinfund to assist entrepreneurs in launching blockchain businesses.
After mounting several unsuccessful attempts at breaking out of a yearlong slump, the bitcoin price and wider crypto market appear poised to end the month of December firmly in the red. However, a handful of cryptocurrencies, including ethereum, tron, and IOTA managed to resist the gravitational pull present elsewhere in the market and post strong
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Following one of its biggest bull rallies in history to $ 19,500, Bitcoin (BTC) is set to end 2018 with an 80 percent drop from its all-time high. As Bitcoin enters 2019 with a bear market status having suffered a steep sell-off in December, what can investors expect in the first two quarters of 2019? Several … Continued
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