Crypto Biz: Coinbase downgraded, 3AC deemed insolvent and Michael Saylor buys the dip

Coinbase has long been considered an important bellwether of the cryptocurrency market. Last year, when the company was expanding its workforce, adding institutional clients and issuing stock, crypto prices were hitting record highs. Now, in the depths of crypto winter, Coinbase finds itself slashing a fifth of its workforce, losing retail trading volume and contending … Read more

Microstrategy Buys More Bitcoin After SEC Says BTC Is a Commodity — Company Now Hodls 129,699 Bitcoins – Featured Bitcoin News

Microstrategy has purchased more bitcoin amid a heavy market sell-off. The announcement followed a clarification by the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, stating that bitcoin is a commodity. Microstrategy Buys the Dip The Nasdaq-listed software company Microstrategy has bought the bitcoin dip again. In a Wednesday filing with the … Read more

Bitcoin holds $20K as ECB warns inflation may never return to pre-COVID lows

Bitcoin (BTC) held steady at just above $20,000 after the June 29 Wall Street open as Europe’s chief banker admitted the world would “never” return to low inflation. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Lagarde on inflation: “I don’t think we’re ever going back” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD looking nonvolatile … Read more

MicroStrategy scoops up 480 Bitcoin amid market slump

Business intelligence firm MicroStrategy has added to its Bitcoin (BTC) holdings, reaffirming CEO Michael Saylor’s bullish outlook on the digital asset despite its recent struggles.  In a Form 8-K filing with the United States Securities and Exchange Commission (SEC), Microstrategy disclosed that it had acquired an additional 480 BTC at an average price of roughly … Read more

Mad Money’s Jim Cramer Expects Bitcoin to Fall to $12,000 – Bitcoin News

The host of Mad Money, Jim Cramer, has predicted that bitcoin’s price will fall to $12,000. Nonetheless, he has recommended bitcoin and ether for people wanting to invest in crypto. Jim Cramer’s Bitcoin Price Prediction Jim Cramer, the host of Mad Money, talked about the future outlook for bitcoin on CNBC Friday. Cramer is a … Read more

Finance Redefined: Three Arrow Capital and Celsius fall brings a tsunami of sell-off in DeFi

This past week, the decentralized finance (DeFi) ecosystem faced the brunt of the bears fueled by liquidation rumors of Three Arrow Capital (3AC) and Celsius liquidations. MakerDAO decided to cut off Aave (AAVE) from its direct deposit module as a safeguard in light of the possibility that Celsius folds and crashes the price of staked … Read more

Microstrategy Debunks Margin Call Rumor — Says Bitcoin Liquidation Unnecessary Even if BTC Falls Below $3,562 – Featured Bitcoin News

The CEO of the Nasdaq-listed software company Microstrategy has debunked the rumor that his company is facing a margin call for a bitcoin-backed loan and will be forced to sell some coins. If the price of the cryptocurrency “falls below $3,562 the company could post some other collateral,” the executive explained. Microstrategy Hasn’t Received a … Read more

‘Nothing issue’ — MicroStrategy CEO plans to hodl Bitcoin ‘through adversity’

Bitcoin (BTC) megahodler MicroStrategy can ride out further BTC price declines, even if it falls to just $3,500, its CEO confirms. In a tweet on June 14, Michael Saylor sought to allay fears that his firm’s BTC exposure may be about to cost it dearly. Saylor stays calm as MSTR dips further With the largest … Read more

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Is it time to be greedy? Experienced market makers and arbitrage desks have turned strongly risk-averse as BTC price dropped to $22,600. Bitcoin (BTC) lost the $28,000 support on June 12 following worsening macroeconomic conditions. The United States Treasury 2-year note yield closed on June 10 at 3.10%, its highest level since December 2007. This … Read more

In this together: Musk and Saylor down a combined $1.5B on Bitcoin buys

As the bear market bites, holding crypto investments can be a tough pill to swallow. Consider two of the largest bag holders of publicly traded companies. They are down by almost $2 billion dollars on their Bitcoin buys.  According to Bitcointreasuries.net, the 130,000 and 43,00 Bitcoin (BTC) held by Microstrategy and Tesla respectively are worth … Read more