A Chinese prosecutor is reported to have given a thumbs up to the arrest of a listed big data company director accused of embezzling $ 8 million and using the funds to buy bitcoin mining rigs. Although Li Qunnan has denied the allegations, executives insist their evidence implicates him. Director’s Unsanctioned Use of Funds Discovered […]
After the Terra LUNA Fallout, Bitcoin Dominance Climbs Higher While Ethereum’s Valuation Shrinks
Following the Terra LUNA and UST fallout, digital currency markets have dropped in value as the crypto economy dropped 6.93% from $ 1.356 trillion on May 22, to today’s $ 1.262 trillion. Amid the market carnage, bitcoin’s market dominance has increased to 43.8%, reaching the highest value since October 30, 2021. Moreover, ethereum’s market dominance […]
JPMorgan Sees ‘Significant Upside’ to Bitcoin — Replaces Real Estate With Crypto as ‘Preferred Alternative Asset’
JPMorgan sees “significant upside” to the price of bitcoin. The global investment bank’s price target for the cryptocurrency is 28% above its current price. JPMorgan has also replaced real estate with cryptocurrencies as its “preferred alternative asset class along with hedge funds.” JPMorgan’s Bitcoin Price Target Is 28% Above Current Price Global investment bank JPMorgan […]
Bank of England’s Andrew Bailey Warns Bitcoin Has No Intrinsic Value, Not a Practical Means of Payment
The governor of the Bank of England, the British central bank, says bitcoin has no intrinsic value and the cryptocurrency is not suitable as a practical means of payment. His warning came after the crypto market plunged. Andrew Bailey on Bitcoin and Cryptocurrency Bank of England Governor Andrew Bailey warned about bitcoin and cryptocurrency on […]
Microstrategy CEO Expects Bitcoin to ‘Go Into the Millions’ Despite Crypto Market Sell-Off
Microstrategy’s CEO has predicted that bitcoin is “going to go into the millions” despite the recent cryptocurrency market sell-off. Noting that the cryptocurrency is the future of money, he said: “We are in it for the long term.” Microstrategy Sees Bitcoin as the Future of Money The CEO of the Nasdaq-listed software company Microstrategy, Michael […]
