Bitcoin (BTC)

U.S. Senator Mike Crapo (R-Idaho) admitted that it would be difficult or impossible to ban bitcoin in the United States. The Senator offered a number of positive comments on bitcoin as he chaired the Senate Committee on Banking, Housing and Urban Affairs cryptocurrency hearing yesterday.“If the United States were to decide, and I’m not saying it should, if the United States decided we didn’t want cryptocurrency to happen in the United States, and tried to ban it, I’m pretty confident we...

By CCN.com: Owners of “whale wallets” scooped up 450,000 BTC as the bitcoin market hit bear-market lows in late 2018. It appears whales now control 25% of all BTC.Is this good or bad for bitcoin?Whales are smart moneyThese private, non-institutional buyers decided an 85 percent decline was a buying opportunity.The market sent BTC prices higher.Now they hold bitcoin, hoping to exploit the law of supply and demand. By hoarding coins, liquidity dries up, theoretically forcing prices...

By CCN.com: On May 17, within minutes, the bitcoin price plummeted from around $7,800 to $6,400 in a flash crash, recording an unexpected 18 percent drop.The bitcoin price briefly plunges to $6,400, recovers swiftly (source: coinmarketcap.com)The sudden decline in the bitcoin price led the valuation of the crypto market to plunge from $257 billion to $225 billion, by more than $32 billion in less than 24 hours.What triggered the sudden bitcoin price drop?According to researchers and investors...

By CCN.com: The office of New York Attorney General Letitia James has officially obtained a court order to request iFinex Inc, the operator of bitcoin exchange Bitfinex and Tether, to cease operations in New York.The Attorney General’s office found that Bitfinex allegedly handed over $850 million in co-mingled client and corporate funds to Crypto Capital Corp, a company based in Panama.Bitfinex is said to have never received the funds from the Panamanian firm, leading to the loss of more than...

By CCN.com: A crypto trader provided CCN.com with documents proving that he has lost around 43 Ether all told after depositing it on BiteBTC on Christmas Eve. As we previously reported, the Bitcoin exchange claimed a fire wrecked its servers, but the exchange claimed crypto wallets were safe.Where There’s Smoke, There’s FireNearly every tweet sent by the exchange is answered with multiple complaints about deposit and withdrawal issues. The following is an example, which allegedly shows...

You could say Warren Buffett is loaded for bear. The “Oracle of Omaha” says he’d like to make permanent investments in U.S. companies with decent long term prospects, but not while the U.S. stock market is so overpriced. Maybe he should buy Bitcoin instead.Buffett Pines for ‘Elephant-Sized’ AcquisitionIn his 2019 annual letter to Berkshire shareholders, Buffett wrote:“In the years ahead, we hope to move much of our excess liquidity into businesses that Berkshire will permanently own. The...