The crypto market is down 46% from its all-time high in May, but shrewd investors are celebrating the dip in prices. Because the IRS classifies digital currencies like bitcoin as property; losses on crypto holdings are to treat much differently than losses on stocks and mutual funds, according to Onramp Invest CEO Tyrone Ross. With crypto tokens, […]
Tesla Inc Chief Executive Officer Elon Musk tweeted on Sunday that the electric carmarker will resume allowing bitcoin transactions when miners who verify transactions use more renewable energy. “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions.” Musk was reacting to comments from […]
Elon Musk, the CEO of Tesla, has fallen to second place on Bloomberg’s list of the world’s wealthiest people. Musk’s net worth plummeted by $15.2 billion in a single day after Tesla shares fell 8.6% on Monday. Jeff Bezos, the founder of e-commerce giant Amazon, has once again topped the Bloomberg Billionaires Index. Bezos is […]
The crypto bubble that inflated Bitcoin’s value past $1 trillion and added billions to nonsense digital tokens overnight is bursting. Bitcoin plunged almost 22% to $35,000, wiping out more than $500 billion in value from the coin’s peak market value. It has erased all the gains it clocked up following Tesla Inc.’s Feb. 8 announcement […]
After the People’s Bank of China issued a statement stating that digital tokens cannot be used as a form of payment, Bitcoin and other major cryptocurrencies dropped. The biggest token went below $40,000 for the first time since early February; falling as much as 10% to $38,973 on Wednesday; following a weeklong decline sparked by […]
LUMS has anchored investments exceeding Rs670 million to design Pakistan’s first-ever academic programme for blockchain, DLT, and associated platforms. Alumnus and founder of Stacks, Muneeb Ali confirmed the news on Twitter. We’ve made a $2.5M worth of cryptocurrency donation to enable a Bitcoin and crypto internet research center in South Asia at LUMS. https://t.co/OJgPrillO4 — […]
The cryptocurrency Bitcoin has dropped below $50,000 as investors began to get a little nervous about the digital currency’s lofty valuation and some leveraged players took profit. The cryptocurrency dropped more than 14 percent on Tuesday, its largest daily drop in a month, to hit $46,568. That extends a sharp withdrawal from a record high […]
The price of bitcoin crossed another major milestone Friday, as the cryptocurrency’s market value surpassed $1 trillion, according to Coindesk. The digital currency was trading at just under $54,000 per coin Friday as it hit the new level, and rose above $55,000 later in the session for a daily gain of more than 6%, according […]
Bitcoin rose above $50,000 for the first time Tuesday as corporate heavyweights increasingly back the world’s most popular virtual currency. It has risen around 72pc so far this year. Most of the gains came after electric carmaker Tesla said it had bought $1.5 billion in bitcoin. Bitcoin has been on a rise since March last […]
Bitcoin powered to a record high on Tuesday, approaching the $50,000 mark, basking in the afterglow of Elon Musk-led Tesla’s investment in the cryptocurrency that had investors believing it may become a mainstream asset class. The most popular cryptocurrency has gained 1,150 percent since its March 2020 lows; as institutional investors searched for alternative investments […]
