In its recently released Q2 earnings report, Tesla revealed that it sold a large portion of its Bitcoin (BTC) holding and converted it to USD. In its report the behemoth electric vehicle manufacturer explained: “As of the end of Q2, we have converted approximately 75% of our bitcoin purchases into fiat currency. Conversions in Q2 […]
According to results from a recent Bitcoin (BTC) survey conducted by Forrester Consulting on behalf of crypto exchange AAX, sizable populations in developing economies top the trend in Bitcoin awareness and adoption. The survey detailed that 74% of consumers in markets within Africa, Latin America, the Middle East, and Southeast Asia were aware of Bitcoin, […]
As the price of Bitcoin (BTC) remains under bearish pressure, strategists at behemoth financial institution JP Morgan Chase & Co. have revealed that the cost of minting new Bitcoins has declined by almost 50% in the past month. In a note published by the Nikolaos Panigirtzoglou-led strategy department at JPM yesterday, the Bitcoin production cost […]
Prominent business figure Charlie Munger took more digs at the cryptocurrency industry in an interview with The Australian Financial Review Tuesday. Last year, Munger called Bitcoin “rat poison” and asserted that he was opposed to the success the benchmark cryptocurrency had secured. At the interview with the AFR, Munger explained that the “crypto craze” is […]
Reports show that Bitcoin (BTC) has become more closely tied to the US real or inflation-adjusted bond yield in recent times, with the two becoming increasingly polarized with each other. Currently, data from CoinDesk shows that the 90-day correlation coefficient between the flagship cryptocurrency and the yield on the 10-year US Treasury bond neared the […]
Latest on-chain reports from Glassnode show that cryptocurrency investors withdrew Bitcoin (BTC) at the most aggressive rate ever recorded in June, with exchange outflows topping 151,000 BTC worth over $3 billion. Notably, the number of active addresses has plunged by 13% since November 2021, following the commencement of the bear cycle. As of July 4, […]
On-chain analytics platform Glassnode suggested in a recent report that Bitcoin (BTC) has hit its lowest level in the ongoing bearish cycle as network activity plummets on a lack of new users. Glassnode asserted that June was Bitcoin’s worst trying month in over ten years, adding that the benchmark cryptocurrency is near its bottom as […]
Last Thursday, Jacobi Asset Management announced that it plans to launch the first Bitcoin exchange-traded-fund (ETF) in Europe on the Euronext exchange. This comes despite the raging volatility currently getting recorded in the crypto market, signaling notable confidence in the market. The digital asset management company noted that its Bitcoin ETF would begin trading on […]
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