Goldman Sachs says bitcoin will compete with gold as “store of value”

Goldman Sachs says bitcoin will compete with gold as "store of value"

LONDON (Reuters) – Bitcoin will take market share from gold in 2022 as digital assets become more widespread, Goldman Sachs analyst Zach Bundle said in a research note to clients. Citing a market capitalization of $700 billion in bitcoin, compared to about $2.6 trillion in gold held as an investment, Goldman Sachs said the cryptocurrency … Read more

Cryptocurrency crash ‘plausible’, rules needed, Bank of England’s Cunliffe says

Cryptocurrency crash 'plausible', rules needed, Bank of England's Cunliffe says

A representation of the virtual currency Bitcoin is shown in this illustrative image taken on June 14, 2021. REUTERS/Edgar Sue/Illustration Register now to get free unlimited access to Reuters.com Register LONDON (Reuters) – Bank of England Deputy Governor John Cunliffe said on Wednesday that a cryptocurrency crash was a “reasonable scenario” and that rules were … Read more

Softbank-backed Brazilian crypto firm acquires Portuguese exchange

Softbank-backed Brazilian crypto firm acquires Portuguese exchange

A representation of the virtual currency Bitcoin is shown in this illustration taken on June 14, 2021. REUTERS/Edgar Su/Illustration/File Photo Register now to get free unlimited access to Reuters.com Register NEW YORK (Reuters) – Softbank-backed Brazilian 2TM that operates Latin America’s largest cryptocurrency exchange Mercado Bitcoin said on Wednesday it would acquire a controlling stake … Read more

Cryptocurrencies post record outflows in first week of 2022 -CoinShares

Cryptocurrencies post record outflows in first week of 2022 -CoinShares

Representations of virtual currency Bitcoin are seen in this picture illustration taken March 13, 2020. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register NEW YORK, Jan 10 (Reuters) – Cryptocurrency investment products and funds had net outflows last week totaling a record $207 million, a report from digital asset manager CoinShares … Read more

Kosovo bans cryptocurrency mining to save electricity

Kosovo bans cryptocurrency mining to save electricity

Cryptocurrency mining facilities in Pristina, Kosovo, June 12, 2018. Reuters/Hazir Reka/File Photo Register now to get free unlimited access to Reuters.com Register PRISTINA (Reuters) – Kosovo’s government imposed a ban on cryptocurrency mining on Tuesday in a bid to reduce electricity consumption as the country faces its worst energy crisis in a decade due to … Read more

Stablecoins steal the limelight from subdued bitcoin

Stablecoins steal the limelight from subdued bitcoin

Dec 13 (Reuters) – As Bitcoin, the world’s largest digital currency, struggles to recover from a massive meltdown, the regulatory and private sector focus has shifted to another part of the cryptocurrency world: stablecoins. Last week saw Meta Platforms Inc (FB.O) trial its own stablecoin payments wallet, while the world’s largest Visa (VN) payment processor … Read more

Bitcoin network power slumps as Kazakhstan crackdown hits crypto miners

Bitcoin network power slumps as Kazakhstan crackdown hits crypto miners

Bitcoin ‘hash ratio’ drops after internet shutdown in Kazakhstan In August, the country acquired 18% of global bitcoin production capacity The share has grown sharply in the wake of China’s campaign Kazakhstan cut off the internet after bloody protests LONDON, Jan 6 (Reuters) – The global computing power of the bitcoin network has fallen sharply … Read more