Chamath Palihapitiya sees Bitcoin as insurance against uncertainty

Bitcoin’s (BTC) price has risen dramatically over the past days and weeks, recently wheeling past $40,000. An asset largely untied to governmental authority, Bitcoin is a hedge against global uncertainty, according to venture capitalist and billionaire Chamath Palihapitiya. Citing a possible five or 10-year time horizon, Palihapitiya said he thinks Bitcoin will likely reach $200,000 at some point. “The reason is because, everytime you see all of this stuff happening, it just reminds you that wow our leaders are not as trustworthy and reliable as they used to be,” he…

Morgan Stanley now holds 10% stake in Michael Saylor’s MicroStrategy

Per a filing with the Securities and Exchange Commission released on Jan. 8, investment bank Morgan Stanley had acquired 792,627 shares in business intelligence firm MicroStrategy. The investment represents a 10.9% stake in a firm that has made massive investments in Bitcoin over the past several months.  The purchase apparently happened on Dec. 31. MicroStrategy has had a colossal month, seeing its shares move from $289 on Dec. 8 to $545 as of Jan. 8.  Source: NASDAQ In August, MicroStrategy took bold steps into crypto, making Bitcoin its primary reserve asset. …

Ethereum Forming Extremely Bullish Pattern as Bulls Target New Highs

Ethereum and the entire crypto market is consolidating today following some recent turbulence Bulls stepped up after the entire market saw a massive selloff yesterday and absorbed the influx of selling pressure, allowing BTC to rocket past $40,000 and ETH to move higher Today, the market has consolidated and drifted slightly lower, although bulls still seem to be poised to catalyze further upside One trader is now noting that Ethereum could be well-positioned to see upside in the near-term, adding that its outlook is growing strong by the day He…

Altcoins sell-off as traders jostle to hold Bitcoin price above $40K

Altcoin’s recent gains have come under pressure as Bitcoin (BTC) price dropped to retest lower support levels after reaching a new all-time high at $41,940.  Following Bitcoin’s Jan. 7 push above $40,000, the top cryptocurrency faced selling pressure that saw the price dip as low as $36,600. As has been the case throughout the current rally, investors quickly purchased the dip and BTC price rallied to a new all time high at $41,940 on Jan.8. Market sentiment continues to improve as institutional investor inflow to cryptocurrencies continues to rise. As…

When is Bitcoin’s macro top? Industry player speculates

Bitcoin’s (BTC) price momentum recently pushed the asset to almost $42,000 per coin. It has more than doubled in price over the past two months, breaking the previous record highs that it set back in 2017. Podcaster Nathaniel Whittemore recently gave his opinion on methods of spotting a macro bull market top for the digital currency. “There isn’t really a macro top, in the sense that the conditions align so well with the narrative,” Whittemore, host of a podcast called The Breakdown, told Cointelegraph. He added: “If we see another big…

Litecoin Will Get Smart Contracts via Flare Networks

Key Takeaways Flare Networks is working to introduce smart contracts on Litecoin. This feature will introduce application and development capabilities, similar to the functionality found on Ethereum. Litecoin users can also participate in Flare Networks’ airdrop. Share this article Litecoin will receive smart contract capabilities through Flare Networks, according to a tweet from the latter project. Flare Networks Adds Smart Contracts Flare Networks states that it will introduce the feature ahead of its launch in Q2 2021. It says that this will allow Litecoin to be used on Flare “with…

Bitcoin Touches $42,000 as Holders Await Higher Prices 

Key Takeaways Bitcoin’s price has reached $42,000, a new all-time high. Bitcoin is currently at the 2019 top concerning its “dormancy ratio,” as old hands move BTC to book profits.  The cryptocurrency is facing a supply crunch as long-term hodlers wait patiently for higher prices.  Share this article Bitcoin’s price has reached a new all-time high of $42,000. The unprecedented rise is backed by strong holders and new buyers, but the market is starting to witness bull exhaustion. Bitcoin Price Is Ruled by Supply The supply of Bitcoin has been…

Insurrections, transitions, monitoring transactions and 2021, Jan. 1–8

Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note January takes its name from Janus, the god of transitions and the guardian or the gates of Rome, looking always forward and backwards. So while this has been going on for over two millennia, only a week into 2021 I am thoroughly tired of retrospectives and prognostications. My personal takeaways from 2020 were pretty existential: we are but sentient dust; life comes at you fast; man plans and God…

Unprecedented Bitcoin Rally Leads Altcoins Into “Uncharted Territory”

The shocking Bitcoin rally has resulted in the cryptocurrency reaching two times its previous all-time high. Meanwhile, most altcoins have yet to return to the high they set years ago. This strange occurrence recently with altcoins growing in USD value, but getting hammered on BTC pairs has led the market into “uncharted territory,” according to one crypto analyst. Will Bitcoin continue to completely dominate altcoins from here on out, or will a proper altcoin season arrive where the rest of the asset class beats out BTC by a wide margin?…