Investments

Chainalysis has crypto’s ‘heightened momentum’ to thank for multi-billion dollar valuation

Blockchain analytics firm Chainalysis recently added $100 million to its books thanks to investments from a number of parties, including Salesforce CEO Marc Benioff. In a report from CNBC on Friday, Chainalysis’ CEO Michael Gronager suggested that the success of this fundraising round was due to a feeling of “heightened momentum” in the cryptocurrency space. “Chainalysis, …

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New Zealand retirement fund reportedly allocates 5% to Bitcoin

KiwiSaver Growth Strategy, a $350 million retirement plan operated by New Zealand Wealth Funds Management, has reportedly allocated 5% of its assets to Bitcoin (BTC), underscoring the steady stream of institutional investors entering the digital asset space. Bitcoin’s striking similarities to gold were cited as one of the biggest reasons for entering the trade, according …

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Bitcoin is now ‘too important to ignore’, Deutsche Bank says

Bitcoin’s (BTC) market capitalization of $1 trillion and potential for continued growth have made the cryptocurrency “too important to ignore,” according to Deutsche Bank analysts. Deutsche Bank Research, the financial research subsidiary of global banking giant Deutsche Bank, issued a report devoted exclusively to Bitcoin, titled “The Future of Payments: Series 2 Part III. Bitcoins: …

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Fireblocks crypto startup raises $133M in funding round with BNY Mellon

According to a March 18 report by the Wall Street Journal, cryptocurrency startup Fireblocks has raised $133 million in a Series C funding round featuring BNY Mellon as well as hedge-fund firm Coatue Management, venture-capital firm Ribbit Capital, and Stripes. BNY Mellon’s strategic investment in Fireblocks is reportedly part of the bank’s plans to implement …

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Bank of America analyst slams Bitcoin: Buying 1 BTC is ‘like owning 60 cars’

Bank of America analyst Francisco Blanch has slammed Bitcoin as “exceptionally volatile”, “impractical” and an environmentally disastrous asset that’s useless as a store of wealth or an inflation hedge. For good measure Blanch also asserted the cryptocurrency is an impractical method of payment as it can only handle 1,400 transactions per hour compared to the …

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Survey says Americans could spend up to $40B from stimulus on Bitcoin

Many Americans are expected to receive $1,400 checks following U.S. President Joe Biden signing a $1.9 trillion stimulus package into law last week. New polling suggests that much of these funds could end up in the crypto market. A survey released today from Mizuho Securities estimates that 10% of the roughly $400 billion in funds …

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Bitfinex users can now paper trade their custom algo strategies

Crypto exchange Bitfinex has introduced a new feature for its algorithmic trading toolkit, allowing users to test their trading strategies without putting actual funds at risk.  Bitfinex users can now deploy Honey Framework in their paper-trading sub-accounts. A paper trade is a simulated trade that allows users to practice buying and selling financial assets without …

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Peter Schiff’s son moves 100% of his portfolio into Bitcoin

Spencer Schiff, the son of gold bug and major Bitcoin (BTC) critic Peter Schiff, seems to have decided to move all his portfolio investments into one single asset, Bitcoin. “My son went all in on Bitcoin on the last drop below $50k. 100% of his portfolio is now in Bitcoin,” gold bug Schiff announced Wednesday …

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Israeli asset manager doubles its $100M Bitcoin investment in just two months

Israel’s Altshuler Shaham Investment House has doubled its money after tipping $100 million into the Grayscale Bitcoin Trust late last year. It’s the only know Israeli institution to have invested this magnitude of funds into Bitcoin so far. The news follows increasing institutional interest in Bitcoin internationally, with reports on March 7 that Chinese tech …

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OpenSea collector ‘pulls the rug’ on NFTs to highlight arbitrary value

A crypto artist known as neitherconfirm recently listed 26 non-fungible tokens, or NFTs, for sale on OpenSea’s digital marketplace. Things took an unexpected turn earlier today, however, after the artist changed the images associated with each token from computer generated portraits into photos of literal carpets. The pieces, which originally featured people and animal faces in a seemingly stained …

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