Tag: Investments

PayPal co-founder Peter Thiel says he ‘underinvested’ in Bitcoin
Bitcoin

PayPal co-founder Peter Thiel says he ‘underinvested’ in Bitcoin

As Bitcoin (BTC) marked a new all-time high above $67,000, PayPal co-founder and billionaire venture capitalist Peter Thiel said he should have bought more Bitcoin.Thiel spoke of cryptocurrencies, central banks and artificial intelligence (AI) during an interview in Miami hosted by policy think tank Lincoln Network, Bloomberg reported Oct. 20.“You’re supposed to just buy Bitcoin,” Thiel said, adding: “I feel like I’ve been underinvested in it.”The tech investor noted that his only concern about buying Bitcoin was that the investment “secret was already known by everybody.” “I think the answers are still to go long. Maybe it still is enough of a secret,” he added.According to Thiel, the latest Bitcoin rally is definitely a big concern for global central banks. The cryptocurrency’s surge to ...
Ark Invest founder Cathie Wood passed on buying the first Bitcoin Futures ETF
Bitcoin

Ark Invest founder Cathie Wood passed on buying the first Bitcoin Futures ETF

Ark Invest founder and CEO Cathie Wood did not invest in the ProShares Bitcoin Strategy Exchange Traded Fund, or ETF, on opening day, according to Business Insider. Wood said about the ETF’s debut:“No, we did not [invest]. We’re looking at this very carefully […] there are some tax ramifications we’d like to understand more having to do with contango versus more normal backwardation.”The contango of the ETF refers to when the future price of the commodity is higher than the spot price. Backwardation is when the forward price of the futures contract is lower than the spot price in a downward trend.This past June, Cathie Wood’s Ark Invest partnered with 21 Shares to file for its own Bitcoin ETF. She is also no stranger to the equities market when it comes to investing in cryptocurrencie...
SEC Chair Gary Gensler responds to concerns about first Bitcoin-linked ETF
Bitcoin

SEC Chair Gary Gensler responds to concerns about first Bitcoin-linked ETF

SEC Chair Gary Gensler and Proshares CEO Simeon Hyman discussed the launch of the first Bitcoin-linked ETF in a CNBC breaking news segment on Tuesday.Proshares Bitcoin Strategy ETF, also known as BITO, is based on CME Bitcoin futures contracts. CNBC commentator Bob Pisano shared concerns from some investors that BTC futures could deviate from the BTC spot price:“The futures market is a better place for price discovery,” said Hyman. “The CME futures market trades more volume than the largest US crypto exchange. We launched a similar mutual fund on 7/28 and since we launched on Friday, the Bitcoin Reference Rate is up 52 percent, our BTC mutual fund is up 52 percent and the BTC Greyscale Trust is up 37 percent.”The debut of BITO follows announcements that other BTC-linked funds, including Va...
Chainalysis will add Bitcoin to its balance sheet as price surges
Bitcoin

Chainalysis will add Bitcoin to its balance sheet as price surges

Blockchain analytics firm Chainalysis plans to purchase an undisclosed amount of Bitcoin for the firm’s balance sheet through New York Digital Investment Group’s brokerage services.In a Tuesday blog post, Chainalysis said it will expand its partnership with the New York Digital Investment Group, or NYDIG, to buy an undisclosed amount of Bitcoin (BTC), the price of which reached a five-month high of $63,293 earlier on Tuesday. The firm said the purchase was “guided by strong confidence in Bitcoin” in addition to the NYDIG’s expertise in the digital asset space. “Chainalysis is laser-focused on its commitment to building trust in cryptocurrency as a digital asset, and we are thrilled to be adding Bitcoin to our corporate investment portfolio,” said Chainalysis co-founder and CEO Michael Gron...
Blockchain brings the sharing economy to real estate investing
Analysis

Blockchain brings the sharing economy to real estate investing

Fractional ownership of buildings and property developments is becoming one of the adoption areas for blockchain technology in the real estate business. From democratizing access to real estate investment to improving liquidity in the market, there is an argument to be made for tokenization being a net positive for the real estate space.Tokenization via fractional real estate investment is also another example of the emerging “sharing economy” that seems to be encouraging crowdfunded ownership, a trend that could help to decentralize the global asset market across several sectors.With Millennials, the maiden generation of digital natives entering their peak spending years, the digitization of the real estate market could see greater interaction in the market from this particular demographi...
Brazilian toddler makes over 6,500% profit on her first Bitcoin holding
Bitcoin

Brazilian toddler makes over 6,500% profit on her first Bitcoin holding

A 4-year-old girl has reportedly earned over 6,500% profit on a one Bitcoin (BTC) gift she received on the day of her birth. João Canhada, the founder of a Brazilian crypto exchange Foxbit, gifted 1 BTC to his newborn daughter, roughly worth $915.80. Sharing details on the event, Canhada said:“As soon as my daughter was born, in 2017, I bought 1 Bitcoin for her, not just as a gift, but as a way of investing in this new economy. At the time, BTC cost 5,000 Brazilian Real.”Four years later, the one BTC investment has returned profits of over 6,500% for the child as the price of Bitcoin surges back to the $60,000 mark. The year 2017 was the last chance for investors to purchase Bitcoin under $1000, a fact Canhada was unaware of at the time.Related: British tween earns almost $400K on NFT...
BREAKING: ProShares follows Valkyrie in approval for listing Bitcoin Strategy ETF
Bitcoin

BREAKING: ProShares follows Valkyrie in approval for listing Bitcoin Strategy ETF

The U.S. Securities and Exchange Commission has accepted the registration request for ProShares’ Bitcoin Strategy ETF, with the shares to be listed on the New York Stock Exchange’s Arca.According to an Oct. 15 notice from the Securities and Exchange Commission, or SEC, the agency has accepted the registration of securities from ProShares Trust’s Bitcoin (BTC) Strategy exchange-traded fund, which offers exposure to the crypto asset with futures contracts. In addition, ProShares filed a post-effective amendment prospectus, which states its ETF could launch as early as Oct. 18.The assets will be listed on the NYSE Arca should the SEC officially approve the application. Bloomberg analyst James Seyffart reported that ProShares Bitcoin Strategy ETF would be listed with the ticker symbol BITO wit...
BREAKING: Nasdaq listing hints that the SEC may soon approve ETF application from Valkyrie
Bitcoin

BREAKING: Nasdaq listing hints that the SEC may soon approve ETF application from Valkyrie

The United States Securities and Exchange Commission, or SEC, may soon approve an application from crypto-asset manager Valkyrie for a Bitcoin (BTC) exchange-traded fund, or ETF, with the shares to be listed on the Nasdaq Stock Market.According to an Oct. 15 notice from the SEC, the agency has accepted the registration request for shares of Valkyrie’s Bitcoin Strategy ETF for listing on Nasdaq. In a letter from Nasdaq’s vice president of listing qualifications, Eun Ah Choi — filed the same day — the exchange said Valkyrie’s Bitcoin ETF shares had been certified.Related: New tickers and ARK filing shows Bitcoin futures ETF approval imminent: AnalystIn its Aug. 11 prospectus with the SEC, Valkyrie said its Bitcoin Strategy ETF would offer indirect exposure to the crypto asset with ...
Bitwise applies for ‘actual’ Bitcoin ETF with NYSE Arca
Bitcoin

Bitwise applies for ‘actual’ Bitcoin ETF with NYSE Arca

After almost two years, Bitwise Asset Management has once again applied with the United States Securities and Exchange Commission to create a Bitcoin exchange-traded fund (ETF). In a Thursday Twitter announcement from Bitwise chief investment officer Matt Hougan, the investment firm will be pursuing a Bitcoin (BTC) ETF with NYSE Arca that holds “actual BTC,” and not derivatives or other indirect exposure to cryptocurrencies. According to Hougan, the Bitwise team has spent more than two years analyzing the firm’s ability to “surveil and enforce” any attempts at manipulation and concluded that the Chicago Mercantile Exchange, or CME, is a “regulated market of significant size” for the crypto market.“The market has matured,” said the Bitwise CIO. “An actual BTC ETF can now be approved.”T...
Crypto will generate more wealth than the internet, says Morgan Creek Capital CEO
Altcoins

Crypto will generate more wealth than the internet, says Morgan Creek Capital CEO

By laying the foundations of the internet of value, cryptocurrency and blockchain will generate more wealth than Web 1 and Web 2, said CEO of Morgan Creek Capital, Mark Yusko, in an exclusive interview with Cointelegraph. “We haven't even gotten to the parabolic growth part of Web 3, which is going to create untold wealth”,, stated Yusko.In his career as a hedge fund manager, Yusko profited from investing in early internet technologies. He embraced cryptocurrency in 2017 after realizing their potential to power the internet of value: a new iteration of the internet that will allow users to exchange value directly bypassing financial intermediaries. In comparison to the previous iterations of the internet, which revolutionized the spheres of commerce and media, the"trust net", as ...