Finance

Bitcoin marks dip of $50,000 as investors get jittery about its valuation

Editorial Bureau February 23, 2021

SINGAPORE – With investors getting a little jittery about the bitcoin’s lofty valuation and some leveraged players taking profits, the cryptocurrency dipped $50,000 on Tuesday. It dipped more than 10%, which is its largest daily slump in a month to hit $48,575. That prolongs a sharp

Finance

Bitcoin sees a dip after climbing record high

Editorial Bureau February 22, 2021

LONDON (UK) – Bitcoin fell on Monday after surging to its latest record high a day earlier as a sell-off in global equities curbed risk appetite, with traders citing the unwinding of highly leveraged long positions in the cryptocurrency. The most popular cryptocurrency fell 8% to under $53,000, setting it on course for its worst […]

Finance

Bitcoin, ether continue rally

Editorial Bureau February 20, 2021

SINGAPORE – In Asian trading on Saturday, the most popular cryptocurrency, bitcoin, hit a fresh high, extending its two-month rally which witnessed its market capitalisation cross $1 trillion a day earlier. Bitcoin climbed to a record $56,620, taking its weekly gain to 18%. It has spiked more than 92% this year. The cryptocurrency’s gains have […]

Finance

Elon Musk: Owning bitcoin only slightly better than holding cash

Editorial Bureau February 19, 2021

CALIFORNIA (US) – “Owning bitcoin was only a little better than holding conventional cash, but that the slight difference made it a better asset to hold, said Tesla Inc CEO Elon Musk on Thursday. “However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere,” Musk said in a tweet. “Bitcoin is […]

Finance

Bitcoin spirals above $50,000 setting a new record

Editorial Bureau February 16, 2021

LONDON (UK) – Bitcoin surged above $50,000 on Tuesday setting a new record, adding momentum to a rally fuelled by signs that the biggest cryptocurrency of the world is gaining acceptance among mainstream investors. The cryptocurrency reached a new high of $50,602, and was last up 5% at $50,300. So far, it has surged 72% […]

Finance

Dollar swayed by doubts over speed of US recovery; bitcoin retreats from record high

Editorial Bureau February 15, 2021

TOKYO (JAPAN) – The dollar started the week after near two-week lows on Monday as questions clouded the minds of traders whether the recovery from the pandemic in the United States would match expectations. Bitcoin remained volatile, coming down to as low as $45,914.75 a day after reaching a record $49,714.66. It saw a surge […]

Finance

Bitcoin comes close to $50,000, wider adoption triggers record rally

Ren Leen February 14, 2021

NEW YORK (US) – Bitcoin hit a new record high and approached $50,000 on Sunday, building on its record rally as Wall Street and Main Street increasingly adopt the world’s biggest cryptocurrency. Bitcoin recently stood at $48,800 on Sunday morning, up 3.2%. It had traded as high as $49,714 earlier in the day. The cryptocurrency […]

Finance

Miami mayor eyes bitcoin in a bid to attract tech companies

Editorial Bureau February 13, 2021

MIAMI (US) – Miami Mayor Francis Suarez said the city would embrace bitcoin in its operations in what is seen as a move having the potential to fetch dividends by wooing tech firms. Late on Thursday, the city commission granted approval to the mayor’s proposal to allow bitcoin to be used to pay city workers […]

Finance

Bitcoin holds onto Tesla gains, dollar falters

Ren Leen February 12, 2021

LONDON (UK) – Bitcoin rose to record highs on Friday, aiming for gains of over 20% in a week, filled with milestones marked by the endorsement of major firms, such as Elon Musk’s Tesla, while the US jobs market continued to have a heavy impact on the dollar. Bitcoin last traded 1.1% down at $47,451, […]

Finance

Bitcoin reaches all-time high of $48,481

Editorial Bureau February 11, 2021

LONDON (UK) – Bitcoin on Thursday jumped over 8% to an all-time high of $48,481 after Bank of NY Mellon said it had formed a new unit to help clients hold, transfer and issue digital assets. The new unit at BNY Mellon, called the Digital Assets unit, is expected to roll out the offerings later […]