..

Cathie Wood Backing Sends Bitcoin Back Above $50K

Written by:
Aaron Goldstein
Published on:
Feb/24/2021

Ark Investment boss Cathie Wood told Bloomberg Tuesday evening she remains "very positive on bitcoin," and is "very happy to see a healthy correction here."  This may have helped push the cryptocurrency price above the $51,000 mark overnight.  But there are other factors perhaps.

Big Bitcoin News

 

  • MicroStrategy gained almost 9% early Wednesday, after closing down 21% Tuesday.
  • Wednesday morning the business intelligence firm run by bitcoin bull Michael Saylor said it had purchased $1 billion worth of bitcoin, with holdings now around $4.78 billion.
  • Saylor has become a leading advocate for bitcoin in recent months, calling on other companies to buy the digital token as an investment. On Tuesday, he told CNBC he believes bitcoin will one day have a market value of $100 trillion. As of Wednesday, bitcoin has a total market cap of roughly $920.85 billion, according to Coindesk.
  • There was also more buying from Square.  Jack Dorsey’s Square said Tuesday that it had bought $170 million worth of the cryptocurrency.
  • Bitcoin mining companies Riot Blockchain and Bit Digital gained 12% and 8%, respectively. Marathon Patent rose 15%, and Ault Global rose 5%.

Wild Volatility

  • Bitcoin’s price roared back Wednesday after a sharp sell-off Tuesday.
  • On Wednesday morning, it was reported that Dr. Craig Wright plans to file suit against the developers of bitcoin.  Wright claims to be one of the digital coin's inventors.
  • The action will, for the first time, examine the nature and extent of legal duties conferred upon and owed by developers resulting from the control they exercise over their respective blockchains.

- Aaron Goldstein, Gambling911.com

Business/Financial News

Dow Jumps 400 Points, Nasdaq Surges 2% Following Inflation Report: Latest BetOnline Financial Odds

Dow Jumps 400 Points, Nasdaq Surges 2% Following Inflation Report: Latest BetOnline Financial Odds

Consumer prices rose 8.5% in July, and while that may seem like a lot, it was less than expected as the pace of the rise had slowed.

£9.9 Billion Class Action Lawsuit Filed Against Binance, Kraken, Others

£9.9 Billion Class Action Lawsuit Filed Against Binance, Kraken, Others

A £9.9 billion class action lawsuit has been filed against Binance, Bittylicious, Kraken and Shapeshift.  The plaintiffs are mostly BSV Blockchain investors.

VERDICT: Peter McCormack Liable for Defamation on All Counts

VERDICT: Peter McCormack Liable for Defamation on All Counts

The judge also found that McCormack’s defamatory tweets had caused serious harm to Wright's reputation in the United Kingdom.

Odds on the JetBlue Spirit Airways Merger Getting Approval

Gambling911.com has the odds of a JetBlue Spirit Airways merger receiving approval from the U.S. government by July 2024 set at +130.

Mark Cuban Anticipates SEC to Impose 'Nightmare' Crypto Registration Rules

Mark Cuban Anticipates SEC to Impose 'Nightmare' Crypto Registration Rules

And another serial entrepreneur, Calvin Ayre, asks: "How is anyone surprised that the SEC thinks most token platforms are securities when we have published this", directing folks to an article appearing on CoinGeek entitled: 'Ethereum 2.0 – Ether’s journey from a security to a security'

Syndicate