Cryptocurrency
While people transact in dollars, the wealthy and governments transact in gold. The United States is No. 1 in this regard. The U.S. government has more than 8,133 tons of gold in its reserves. In fact, the United States has more gold stored in its reserves than Germany and Italy combined, which are respectively number […]
A high-ranking European Central Bank (ECB) official recently outlined a number of problems he found with Facebook’s planned cryptocurrency Libra. His critique is the latest in a number of warnings from various government officials around the globe. “I sincerely hope that the people of Europe will not be tempted to leave behind the safety and […]
On June 18th Facebook unveiled plans to establish its own proprietary Bitcoin-style cryptocurrency, called Libra. Facebook’s financial services offering would allow smart phone users to send money to each other and pay for goods across the Internet. Facebook hopes to implement its digital currency offering in 2020. Facebook shares are up 45% this year, in part […]
Former hedge fund manager Michael Novogratz compares Beyond Meat’s stock rally to the Bitcoin bubble that occurred two years ago. Beyond Meat is the company behind the suddenly popular plant-based Impossible Whopper at Burger King and, more recently, a meat-free fried chicken alternative at KFC. Novogratz was an early bitcoin investor who also started a […]
The CEO of consultancy firm Agecroft Partners, Don Steinbrugge, recently praised Bitcoin as “fantastic technology” while discussing nontraditional investments on CNBC. He believes that it’s one of the best nontraditional investments to have in a portfolio. “It’s been an amazing run, it’s fantastic technology; some people are using it as a way to hedge against […]
Facebook’s Libra cryptocurrency has undeniably caught the attention of Federal Reserve Chairman Jerome Powell. “Libra raises serious concerns regarding privacy, money laundering, consumer protection, financial stability,” he said. “These are concerns that should be thoroughly and publicly addressed,” he warned. These comments came during a Congressional committee hearing. Rep. Maxine Waters, D-Calif., chairwoman of the House Financial Services […]
Facebook has announced the launch of a new cryptocurrency called Libra. It aims to transform the way money moves around the world. The details concerning Libra were released in its white paper. The new coin is set to launch in the first half of 2020. Libra will let you buy things or send money to people with […]
This year has been a tough one to be in the stock market while the crypto market has been on fire. Although both markets recovered off their December 2018 lows, the stock market stalled after February while the crypto market blasted higher. Since the end of February, when the S&P 500 index (SPX) closed near […]
The cryptocurrency market has begun 2019 much like it traded 2018 – a choppy pullback that’s showing evidence of being a price correction. Following the mid-December 2018 lows, it’s looking positive for a bit of a higher rally before we’ll get a better idea about what could develop in the coming year. As for Bitcoin, […]
Since October 3, 2018 the stock market has been more volatile than the cryptocurrency market. From high to low, the big stock market selloff in October resulted in an 11.4% decline for the S&P 500. During the same time Bitcoin remained relatively flat near its midpoint of $6,500, moving less than 5% ($300). The October […]
