Cathie Wood’s Ark Invest is betting big on Tesla Inc., the electric vehicle company led by entrepreneur Elon Musk, who acknowledged last week that despite rising interest in a spot bitcoin ETF, he’s not terribly focused on cryptocurrencies. A long-time bullish voice supporting Musk’s carmaker, Wood purchased 111,000 Tesla shares on Wed. Dec. 20. The flagship Ark Innovation ETF (ARKK) bought 93,965 shares,...
MicroStrategy’s big investment in Bitcoin has yielded considerable gains for its investors, as the company’s stock has experienced a remarkable 308% increase over the course of this year. MicroStrategy has come out as one of the biggest gainers in the US among companies valued at $5 billion or more in terms of share prices. According to a report by CNBC...
XRP is struggling to maintain the uptrend. The coin is still trending below $0.62 after retracing from $0.68 sometime in September. Meanwhile, Everlodge is being explored because of its concept and partnerships. Will XRP break below support? XRP has had a great year, increasing by 77.87%. However, it has been stuck in a support zone lately. Currently holding...
Bitcoin gets all the headlines when people talk about cryptocurrencies, but there are literally thousands of other options when it comes to these digital currencies. In fact, cryptos that aren’t Bitcoin are usually considered an “also ran” – what are called “altcoins,” or alternatives to Bitcoin. While Bitcoin may have been the first major cryptocurrency to hit the...
Diana Mondino, Argentina's Minister of Foreign Affairs, International Trade, and Worship, has asserted that a recently passed decree legalizing the use of certain currencies in contracts and for payments applies to Bitcoin (BTC) and other cryptocurrencies. In a December 21 post on Twitter, Mondino stated that the "Bases for the Reconstruction of the Argentine Economy" decree,...
Which has grown faster in 2023, the price of bitcoin or of ETFs investing in cryptocurrency-related equities? If you guessed bitcoin, you’d be like many other investors, but also wrong. While the potential launch of a spot bitcoin ETF has held the attention of investors in 2023, crypto stocks have quietly outperformed the popular cryptocurrency itself, as well as...
There's a good reason the myth of the crypto millionaire exists. According to the latest Crypto Wealth Report, there are more than 88,000 people around the world who have become crypto millionaires. And (perhaps no surprise here) the one crypto that is responsible for 40,500 of those millionaires is Bitcoin (CRYPTO: BTC). While it's certainly no...
Buoyed by the continuing uptrend in the crypto market, the stock of cryptocurrency exchange Coinbase Global (NASDAQ: COIN) is up a head-spinning 375% this year. Largely, this has been due to improving sentiment about crypto in general, and what that means for trading volume on the Coinbase trading platform. It's not rocket science: The more...
After a brutal year-long bear market, it looks like crypto may have turned a corner. The total crypto market cap has nearly doubled in 2023, adding much-needed optimism that seemed all but gone in the crypto winter. With exuberance back in full swing, many investors might wonder if Shiba Inu (CRYPTO: SHIB) can ride this momentum and return to...
Looking back at 2023, a key development has been the resurgence of the cryptocurrency market. The industry's current valuation of over $1.6 trillion is about 100% higher than it was nearly 12 months ago. Unsurprisingly, the most valuable digital asset, Bitcoin (CRYPTO: BTC), has also benefited tremendously. But bigger gains could be on the horizon. Even though Bitcoin has climbed 154%...
