Bitcoin has been stuck in the doldrums for much of 2018, but that doesn't mean every market participant is heading to the poor house. In fact, crypto exchanges are set to rake in twice as much money as last year even though bitcoin is down a whopping 51 percent.
Tax Day is hanging over U.S. investors, and it's one reason behind bitcoin's latest sell-off, according to an investor letter penned by Pantera Capital, a crypto hedge fund based in California.
Peter Thiel has once again endorsed bitcoin, which he recently argued is tantamount to digital gold. And much like gold, the billionaire co-founder of PayPal conjectures that the cryptocurrency is destined to be a store of value rather than a means of payment.
When a new “investment” comes along, investors are often too busy counting their anticipated bounty to care about cost. Shrewd purveyors predictably seize the opportunity to charge excessive fees. But reality inevitably falls short of investors’ expectations, and the focus eventually turns to how much they’re paying to invest.
Isabelle Mateos Y Lago, global chief multi-asset strategist at BlackRock Investment Institute, says Bitcoin isn't investable "at this stage." She discusses the many issues that are associated with bitcoin and why they're still keeping a close eye on it.
Taken on its own, Bitcoin’s eye-popping 1,400 percent rally last year would put most other investments to shame. But even such a monster gain might not be enough to put the cryptocurrency on the radar for institutional investors, according to Sanford C. Bernstein Ltd.
Managers of a new investment fund have a message for those who made staggering gains from Bitcoin before the recent selloff: diversify and avoid the fate of early dot-com believers who were wiped out when tech crashed.
China is reportedly seeking an "orderly exit" from bitcoin mining, according to a leaked document seen by Quartz. The government is reportedly concerned about pollution and the havoc that could be triggered by investors who lose money investing in mining and cryptocurrency.
The price of Bitcoin has climbed past $12,000, reaching its latest record and pushing its year-to-date gain to more than 1,100%. After breaking through this milestone, the digital currency's price kept climbing, extending Bitcoin's gains.