Bitcoin could return to $68,000 within 4 years and hit $500,000 in the next decade, MicroStrategy’s Michael Saylor says

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MicroStrategy CEO Michael SaylorJoe Raedle/Getty Images MicroStrategy's Michael Saylor said bitcoin could return $68,000 in four years and then hit $500,000 within the next decade.  At the MarketWatch Best New Ideas in Money Festival on Wednesday, the bitcoin bull shared his thoughts on the world's largest cryptocurrency.  While bitcoin has shed roughly 60% so far in 2022, MicroStrategy has continued to buy the dip on the token. MicroStrategy co-founder and CEO Michael Saylor expects bitcoin to return to its November high of nearly $69,000 within the next four years, and said the token could hit $500,000 sometime in the next…

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JPMorgan CEO Jamie Dimon slammed crypto as dangerous – and called bitcoin a Ponzi scheme

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Jamie Dimon.Kimberly White/Getty Images Jamie Dimon slammed bitcoin and some other crypto as "decentralized Ponzi schemes." The JPMorgan CEO said they enable theft, money laundering, and other crimes. However, Dimon touted blockchain and said he would welcome a properly regulated stablecoin. Jamie Dimon has doubled down on his disdain for bitcoin and some other cryptocurrencies, arguing they serve no purpose beyond vacuuming up new buyers' money to pay out profits to their existing holders."I'm a major skeptic of crypto tokens, which you call currency, like bitcoin," the JPMorgan CEO told the House Financial Services Committee on Wednesday."They are decentralized Ponzi…

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The crypto bear market will continue if bitcoin confirms its recent breakdown below $20,000, Fairlead’s Katie Stockton says

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Bitcoin price graphicGetty ImagesThe crypto bear market is likely to continue if bitcoin confirms its recent breakdown below $20,000, according to Fairlead Strategies.The technical analysis-based research firm said secondary support for bitcoin stands at $13,900."Short-term momentum has shifted negative per a new daily MACD 'sell' signal," Fairlead said.The crypto bear market is likely to continue as long as bitcoin confirms its recent breakdown below $20,000, according to a Tuesday note from Fairlead Strategies.The technical analysis-focused research firm highlighted that bitcoin is currently testing a support range of between $18,300 and $19,500 following last week's CPI-induced sell-off. Bitcoin was down about…

Continue ReadingThe crypto bear market will continue if bitcoin confirms its recent breakdown below $20,000, Fairlead’s Katie Stockton says

(WATCH) Digital Currency

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It is said that a thousand years ago, when most money was held in coins, China invented paper currency. Today, the Communist nation is in the lead on a new Financial Technology or “FinTech” frontier: an official digital currency backed by the Chinese government. And that’s got the U.S. government scrambling to decide whether to […]

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Mike Novogratz says Powell should stay hawkish with his inflation messaging to markets – and the famed crypto bull sees the Fed ‘handcuffed’ to upcoming CPI reports

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Galaxy Digital CEO Mike Novogratz.Lucas Jackson/Reuters Fed Chair Jerome Powell should stress the central bank's hawkish stance against inflation, Mike Novogratz said.   The Fed will be "handcuffed" to future inflation reports after August's hot CPI report, he said.  He sees long-term investment in stocks and crypto currently dependent on short-term economic data.  Federal Reserve Chair Jerome Powell should emphasize the central bank's hawkish stance against inflation at its meeting this week as consumer prices at multi-year highs appear sticky, billionaire investor Mike Novogratz said on CNBC. "[Powell] threw us all off track a little bit two meetings ago when he said,…

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Michael Saylor’s MicroStrategy buys the dip with fresh $6 million bitcoin purchase, adding to its crypto stockpile

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Michael Saylor is facing a $100 million lawsuit for tax evasionMarco Bello/Getty Images MicroStrategy said it bought roughly $6 million in bitcoin between August 2 and September 19. Michael Saylor's firm bought the 301 bitcoin tokens for an average price of about $19,851. The company holds more than 130,000 bitcoins, acquired for a total price of about $3.98 billion.   MicroStrategy, helmed by famed bitcoin-bull Michael Saylor, purchased about $6 million in bitcoin between August 2 and September 19, a Tuesday SEC filing showed.That's good for about 301 bitcoin, bought at about an average price of $19,851 per token using excess…

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Sam Bankman-Fried’s Alameda will repay $200 million in crypto to bankrupt lender Voyager – after the crash hit dollar values

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FTX Cryptocurrency exchange CEO Gabe Bankman-Fried at a hearing on Capitol Hill on May 12, 2022.Tom Williams/CQ-Roll Call via Getty Images Sam Bankman-Fried's Alameda plans to give crypto worth $200 million to Voyager to pay off a loan.  The loan was worth $377 million before the crypto slump, which helped push lender Voyager into bankruptcy. Alameda agreed to make the payment in bitcoin, ether and seven smaller cryptos by the end of September.  Sam Bankman-Fried's Alameda Research will pay cryptocurrency worth about $200 million to bankrupt lender Voyager Digital to cover an outstanding loan, according to a court filing Monday.The…

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