Brazil Central Bank Chief Compares Bitcoin to Pyramid Scheme

The head of Brazil’s central bank took a harsh stance toward bitcoin earlier this week, comparing the cryptocurrency to a pyramid scheme. According to RttNews, central bank president Ilan Goldfajn was dismissive of recent price appreciation in the bitcoin market. And while he said it was key to “separate” bitcoin from other applications of its underlying… Read More »

Bank of America Report: Bitcoin

A potential move by global brokerages to offer products around cryptocurrencies could have a big impact on the wider market, analysts at Bank of America Merrill Lynch wrote. In an Oct. 16 research note entitled “Introducing cryptocurrencies – what are they good for?”, the analysts tackle bitcoin as well as other cryptocurrencies such as ethereum… Read More »

Obvious Bubble? SEC Committee Lashes Out at Bitcoin and ICOs

“Can I suggest something to you? People who come in suggesting that ‘everything is different’ [while] marketing investment contracts tend to end up looking rather badly.” Issued by Damon Silvers, director of policy at the American Federation of Labor and Congress of Industrial Organizations, to Adam Ludwin, the CEO of blockchain startup Chain, the pointed… Read More »

Logical or Not, Bitcoin

Bitcoin may be trading at an all-time high, but the reasons why have experts wondering. Despite increased dialogue about the cryptocurrency’s potential, and growing acknowledgment from the mainstream, there are some who believe now isn’t the best time to buy the notoriously volatile asset. After all, in just weeks, bitcoin is likely to see not… Read More »

$5,800: Bitcoin Price Hits New Record High

The value of a bitcoin reached a new all-time high of $5,856.10 at around 02:45 UTC this morning. The new price record comes just hours after setting new highs with a strong move beyond $5,000 yesterday, according to CoinDesk’s Bitcoin Price Index. At 16:30 UTC Thursday, bitcoin was at $5,363. Bitcoin started the session today at $5,439,… Read More »

At It Again: Dimon Breaks Vow, Calls Bitcoin Buyers

Jamie Dimon is back on the bitcoin commentary bandwagon. Just a day after declaring on a third-quarter earnings call that he would refrain commenting on the cryptocurrency, the JPMorgan Chase CEO offered a critical take on those investing in bitcoin. “If you’re stupid enough to buy it, you’ll pay the price for it one day,”… Read More »

Bitcoin

Bitcoin hit a new record high of $5,856 on CoinDesk’s Bitcoin Price Index this morning, but the question everyone will be asking is, can the rally continue? At press time, bitcoin is trading at $5,610 levels, as per CoinMarketCap data. Bitcoin’s week-on-week performance of over 28 percent (up more than $1,200,) is double S&P’s year-to-date gains… Read More »

Why HODLing Is Hobbling Bitcoin

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative.  In this opinion piece, one of a weekly series of columns, Casey argues that bitcoin’s appeal as an investment could diminish its effectiveness as a currency and calls for testing alternative cryptocurrency models. Bitcoin… Read More »