New Survey Shows How Bitcoin Is Giving PayPal a Boost

Just three weeks after PayPal  (PYPL) – Get Report began allowing all of its U.S. users to trade Bitcoin, it looks like a substantial fraction of its user base has already taken the company up on its offer.

Mizuho Securities recently surveyed 380 U.S. PayPal users, and found that 17% of them have already traded Bitcoin via their PayPal accounts. In addition, 65% of those who had traded Bitcoin via PayPal said that they’re willing to use the cryptocurrency to buy goods and services.

What’s more — though this number is influenced by the fact that Bitcoin traders appear to be more active PayPal users to begin with — those trading Bitcoin via PayPal were said to be using the PayPal app more than three times as much as non Bitcoin-traders. And about half of the Bitcoin traders reported using other PayPal functions more after they started trading

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Bitcoin is back, hitting record high price

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Bitcoin reached an all-time high price Monday, three years after its last spike.


Jordan Mansfield/Getty

Bitcoin reached a record high price on Monday, continuing a slow rise that began in the early stages of the pandemic. The cryptocurrency climbed to $19,850 on Monday, beating its previous high mark set in 2017, according to bitcoin index site CoinDesk.

It’s been a long road back to the high. After approaching $20,000 in December 2017, it experienced a crash that saw the value of one bitcoin plummet to just over $3,000 a year later. 

The previous spike of the decentralized currency, built by an anonymous developer (or group of developers) in 2008, was driven by Asian investors, but CoinDesk suggests the current run is built on institutional investors in North America. 

Square, the payments provider founded by Twitter’s Jack Dorsey, announced it had invested $50 million in Bitcoin in October. “We believe that

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Guggenheim says it could invest up to $530 million in a bitcoin trust as the cryptocurrency flirts with new record highs



a close up of electronics: REUTERS/Stephen Lam


© REUTERS/Stephen Lam
REUTERS/Stephen Lam

  • Guggenheim Partners revealed in a Friday regulatory filing that its Macro Opportunities Fund holds the right to invest up to 10% of its net asset value in Grayscale Bitcoin Trust.
  • The trust solely invests in bitcoin, and a 10% bet from Guggenheim’s fund equates to roughly $530 million.
  • The filing comes as bitcoin climbs back above $19,000 after tumbling through the Thanksgiving holiday. Though the token has more than doubled through the year, it still trades below its 2017 record of $19,783.06.
  • Watch bitcoin trade live here.

Guggenheim Partners is the latest Wall Street firm to show interest in bitcoin, and a Friday regulatory filing signals the firm could make a massive investment in the soaring cryptocurrency.

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Guggenheim revealed its Macro Opportunities Fund holds the right to invest up to 10% of its net asset value in Grayscale Bitcoin Trust, according to a

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Bitcoin rallies back over the weekend and breaks above $19,000 again

People walk past a board with the logo of Bitcoin in a street in Yerevan, Armenia September 9, 2019.

Anton Vaganov | Reuters

Bitcoin snapped back sharply over the weekend after a sell-off around Thanksgiving, and the volatile cryptocurrency is once again nearing record highs.

The price of Bitcoin broke above $19,000 last week, only to retreat back to roughly $17,000 on Thursday and Friday, according to data from Coinbase. However, it was back above $19,200 on Monday morning.

The move over the weekend is the latest leg of a furious rally for the cryptocurrency, which has nearly doubled in price since early September.

Tyler Winklevoss, co-founder of crypto exchange Gemini and a long-time Bitcoin bull, said on “Squawk Box,” said that he has not been buying more Bitcoin but believes there is still significant upside.

“Our thesis is that Bitcoin is gold 2.0, that it will disrupt gold. And

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Bitcoin Braces For A Shock $500 Million Earthquake

Bitcoin and cryptocurrency markets have swung wildly over the last week with the bitcoin price briefly nudging its 2017 all-time high.

The bitcoin price climbed to around $19,500 per bitcoin last week before a sharp correction saw it fall as low as $16,000.

Now, the bitcoin price has bounced back, giving a boost to other major cryptocurrencies, after a $200 billion asset-manager revealed it could “seek investment exposure to bitcoin indirectly” to the tune of $500 million via the Grayscale Bitcoin Trust (GBTC).

MORE FROM FORBESIs This The Real Reason Bitcoin Has Suddenly Soared Toward Its All-Time Highs?

“The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to 10% of its

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Bitcoin, Ethereum, Ripple’s XRP, Litecoin And Chainlink Suddenly Bounce Back

Bitcoin, ethereum, Ripple’s XRP, litecoin and chainlink—five of the biggest cryptocurrencies by value—have bounced back from a sell-off this week.

The bitcoin price climbed to over $18,000 per bitcoin after crashing to around $16,000 on Thursday as ethereum, Ripple’s XRP, litecoin and chainlink recorded even wilder swings.

MORE FROM FORBESIs This The Real Reason Bitcoin Has Suddenly Soared Toward Its All-Time Highs?

The upswing has been led by XRP, which added over 10% over the last 24 hours, with bitcoin, ethereum, litecoin and chainlink climbing around 5%.

The combined bitcoin and cryptocurrency market value has swung by around $100 billion this week after bitcoin brushed its 2017 all-time high of almost $20,000.

The sell-off, which saw bitcoin lose 10% of its value in a

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Guggenheim Fund Reserves Right to Put Up to 10% in Bitcoin Trust

(Bloomberg) — Count Guggenheim Partners LLC among those institutional investors casting an eye on cryptocurrencies.

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Guggenheim is reserving the right for its $5.3 billion Macro Opportunities Fund — which aims for total return via fixed income and other debt and equity securities — to invest in the Grayscale Bitcoin Trust. The trust’s shares are solely invested in Bitcoin, and track the digital asset’s price less fees and expenses.

“The Guggenheim Macro Opportunities Fund may seek investment exposure to Bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust,” the firm said in a filing Friday to the U.S. Securities and Exchange Commission.

Investments in Bitcoin would put Guggenheim and its Chief Investment Officer Scott Minerd in with the likes of Paul Tudor Jones and Stan Druckenmiller, who have already said they’ve put money into the digital asset. The largest cryptocurrency has had

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Bitcoin Price Crashed Back To $17,000: Here’s Why It’s Dropping

KEY POINTS

  • RSI has been in overbought territory since October
  • The government is reportedly about to announce new rules on wallets
  • OKex has resumed withdrawals

Bitcoin has experienced its largest pullback in the rally on Thursday, missing the chance to reach a new all-time high on the backdrop of strong institutional and retail demand.

Bitcoin opened Thursday at $18,719, tried to breach past $19,000, only to be met with strong resistance on its way up. Upon the strong rejection, Bitcoin slid down, going as low as $16,205 before closing at $17,170. It’s the largest pullback so far in this 2020 rally that saw Bitcoin went from $10,000 on Sept. 5 to a 2020 high of $19,172 on Nov. 24.

According to Matthew Dibb, CEO of Stack Funds, leverages have been unwinded in a move many have already expected. The funding rate in the futures market has risen sharply to 0.098%,

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Crypto exchange Coinbase hit by connection, latency problems as bitcoin plummets

FILE PHOTO: Illumination of the stock graph is seen on the representations of virtual currency Bitcoin in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

LONDON (Reuters) – Cryptocurrency exchange Coinbase said on Thursday its retail and professional-focused platforms were hit by tech problems, with users reporting difficulty trading as bitcoin plunged towards its biggest one-day drop since September.

California-based Coinbase said on its website at 14:14 GMT it was investigating connectivity problems, adding at 14:42 GMT that it had identified the problem and implemented a solution.

In a separate post at 15:21 GMT on its Coinbase Pro site it said “increased latencies impacting order entry and settlement” for its Coinbase Pro service, adding it was investigating the problem.

A spokesman for Coinbase, one of the biggest cryptocurrency exchanges, declined to comment.

Coinbase users on Twitter reported problems trading.

One Coinbase Pro user told Reuters by message:

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Bitcoin dives as red-hot rally hits the buffers

LONDON (Reuters) – Bitcoin plunged on Thursday to its lowest level in 10 days, slamming the brakes on its blistering rally and sparking a sell-off among smaller digital coins.

Bitcoin, the world’s biggest cryptocurrency, slumped as much as 13% to its lowest since Nov. 16. It was last down 9% at $17,074, a sharp correction from its three-year high of $19,521 hit on Wednesday.

It has rallied around 140% this year to just shy of its all-time high of $19,666, fuelled by demand for riskier assets, a perception it is resistant to inflation, and expectations cryptocurrencies will win mainstream acceptance.

The second-largest cryptocurrency, ethereum, dropped around 13% and XRP, the third-biggest, slid over 20%. Both coins, which tend to move in tandem with bitcoin, hit multi-year highs earlier this week.

Bitcoin’s 12-year history has been peppered with vertiginous gains and equally sharp drops. It volatility has hampered use for payments

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