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Rebecca Patterson, the director of investment research at Bridgewater Associates, said bitcoin could be better compared to gold than a currency due to the similarities between both assets, thus, supporting the digital gold argument.Bitcoin As Digital GoldIn a recent interview with Bloomberg, Patterson said she wouldn’t call bitcoin an alternative currency, I think if anything, it’s an alternative to gold or digital gold. I think that would be the better comparison.”Despite calling BTC an...

After a relatively positive Saturday, bitcoin has headed south again by dropping below $44,000 to its lowest price since February 10, 2021. The altcoin space has it even worse with substantial double-digit declines, and the market cap has lost another $120 billion to $1.350t.Bitcoin Price Falls Beneath $44K as Miners Sell-OffThe primary cryptocurrency showed brief signs of recovery during yesterday’s trading session as it gained about $4,000. However, this positive performance was...

A month after launching a Bitcoin ETP on Switzerland’s SIX Exchange, CoinShares has released a physically-backed exchange-traded product following the performance of the second-largest cryptocurrency – Ethereum. Describing itself as “Europe’s largest digital asset investment house,” CoinShares is a cryptocurrency-oriented manager with over $4 billion in AUM. The company, headquartered in London, announced the launch of its latest crypto product – a new physically-backed ETP tracking the...

Following weeks of accumulating substantial quantities of BTC, Bitcoin whales seem to have reversed the trend by disposing of some of their holdings in the past several days. Interestingly, this coincided with the massive market crash, which raises the question if whales are responsible for BTC’s decreasing price.Bitcoin Whale Spawning Season Over?The primary cryptocurrency has enjoyed better days, and they weren’t that long ago. If we reverse time with just a week, BTC was heading for new...

Following more adverse developments in which BTC dipped to $44,000 as of yesterday, the asset has reclaimed some ground by overtaking the $47,000 mark. Most altcoins have also taken a breather after the latest beating, with Cardano and Polkadot exploding with double-digit percentages.Bitcoin Recovers $3K After Hitting 2.5-Week LowThe working week didn’t go well for the BTC bulls as the asset plummeted by more than $13,000 in the first few days. After dropping to $45,000, the cryptocurrency...

Cardano (ADA) is once again in the spotlight as its price fails to follow the current downtrend in the cryptocurrency market. In fact, ADA is currently up on almost all time frames, and it has managed to once again claim the third spot in terms of market capitalization.However, Anthony Sassano, one of Ethereum’s well-known proponents and investors, is of the opinion that it doesn’t have the fundamentals to be valued at 25% of Ethereum’s total capitalization.Cardano (ADA) Bulls Don’t...

New York City-based asset manager Stone Ridge has filed documents with the US Securities and Exchange Commission on behalf of its diversified alternatives fund to introduce BTC as the seventh investment strategy. According to the filing with the SEC, the addition will become effective on April 26th, 2021. However, it doesn’t necessarily mean that the giant asset manager will proceed with its BTC endeavor.  The filing enables Stone Ridge to receive exposure for its diversified alternatives...

Dubai-based cryptocurrency investment fund currently sitting on $1 billion in AUM believes that the value of Cardano and Polkadot will be higher than that of BTC in the upcoming years. Consequently, the fund has announced plans to dispose of $750 million of its Bitcoin holdings and expand its exposure to ADA and DOT instead.Crypto Fund To Replace BTC With DOT and ADAFD7 (Fall Down Seven Times) Ventures describes itself as a crypto-oriented investment fund that “invests in entrepreneurs who...

The past few days have been rather tough in the cryptocurrency market. The total capitalization has dropped by around $360 billion since February 20th as the major coins take a beating.Bitcoin’s price declined by about $13,000 since its all-time high, and in the past 24 hours alone, it lost around 15% of its dollar value.With this in mind, we take a look at three possible reasons for this crash in BTC’s price.Healthy Correction, Profit TakingRight off the bat, it’s worth noting that the...

Charlie Munger, the longtime Warren Buffett partner, Vice Chairman of Berkshire Hathaway, and BTC critique, has lashed out against the cryptocurrency once again. During a recent interview, the executive dismissed bitcoin’s chances of becoming a medium of exchange but made a rather compelling comparison with gold.Munger Blasts BTC’s Price FluctuationsThe 97-year-old billionaire investor spoke about the recent developments in the stock markets and the crypto field covered by CNBC. More...