2 days ago

Bitcoin is back above $39,000 level

As of June 14th, 10 a.m., Bitcoin was trading at $39,342.5. This rise is most likely linked to Elon Musk's announcement that Tesla would resume allowing crypto transactions once 50% of miners use clean energy. 

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Bitcoin is back above $39,000 level

5 days ago

Basel committee seeks more rigour around crypto regulation

Swiss-based Basel committee said that banks should apply a 1,250% risk weight to Bitcoin meaning that if a bank holds $100 of bitcoin exposure, it would give risk to a risk-weighted assets of $1,250-given an 8% minimum capital requirement results in banks setting aside at least $100. On another note, banks in Europe will be testing CBDC transfers--the Swiss National Bank and the Banque de France said yesterday that they will conduct experiments.

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5 days ago

Grayscale Bitcoin and Ethereum trusts losing steam?

The over-the-counter market share price of Grayscales Bitcoin Trust and Grayscale Ethereum Trust was $30.10 and $24.90, respectively.

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5 days ago

US insurers begin to increase their exposure to cryptocurrencies

Six insurers in Q1 picked up shares of digital currency investment offered by Grayscale. Though the funds did not buy crypto directly, they have positioned themselves in such a way as to gain (or lose) from Bitcoin and Ethereum exposure. Grinnell Mutual Reinsurance Co. in February took up a position in the Bitcoin Trust with a purchase of 18,000 shares at an actual cost of roughly $968,000. Donegal Mutual Insurance Co. subsidiary Atlantic States Insurance Co. added 20,000 shares of that trust in February as well. State Mutual Insurance Co. (GA) was the only insurer to initially acquire shares of both the Bitcoin and Ethereum investment vehicles. The Georgia-based mutual insurer acquired 13,000 shares of Bitcoin Trust and 9,000 shares of Ethereum Trust, at respective costs of approximately $491,000 and $141,500.

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7 days ago

Is Bitcoin about to fall down to $20,000?

This bad week for Bitcoin could be the precursor for even more disappointment to come, according to crypto analysts closely watching the recent selloff. Bitcoin has dropped about 7% this week and was trading at about $34,000 as of 8 am in London. If it does come to the $30,000 price point, some argue that it could trigger even more selloffs, bringing its value down to the $20 thousands. However, others are still bullish on its long term value and keep buying. 

#Cryptocurrencies
Is Bitcoin about to fall down to $20,000?
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