Bitcoin may be a distant alternative to safe havens, but CoinShares Group is betting that trading a digital gold asset linked to the token may provide investors with a sense of security.
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States dabbling in blockchain technology, or planning to issue their own digital currencies, isn’t flattery – it’s competition.
A Texas academic created a stir last year by alleging that bitcoin’s astronomical surge in 2017 was probably triggered by manipulation. He’s now doubling down with a striking new claim.
Bitcoin jumped on Monday, bringing its rally since Thursday to 26%, after China’s government threw its backing behind the digital coin’s underlying ledger technology.
Chinese investors snapped up every blockchain-related stock in sight after President Xi Jinping said Beijing wants to speed up development of the technology.
A senior Chinese foreign-exchange regulatory official called for “special attention” to be paid to blockchain as the nation looks to gain advantages from digital finance.
Mark Zuckerberg has indicated he is willing for Facebook to pull out of the libra digital currency if other founding members decide to press ahead without US approval.
With over 2.3 billion monthly active users around the world, it’s not a stretch to imagine that Facebook could have great influence over who pays whom, and how.
The hostility toward Facebook’s libra cryptocurrency appears to be weighing on the sentiment for bitcoin.
The head of Facebook’s libra project said that it could use cryptocurrencies based on national currencies like the dollar, rather than the synthetic one it initially proposed.