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Moody’s downgrades El Salvador’s long-term foreign currency issuer rating, and it has a Bitcoin connection

July 31, 2021 , , , , , , , , , , , , , , , , , , , , , , , , Eddy 0

Moody’s, a popular financial credit rating business has downgraded El Salvador’s long-term foreign-currency issuer and senior unsecured ratings to Caa1 from B3. The rating group also lowered El Salvador’s foreign-currency country ceiling to B2 from B1. It said the current outlook remains negative towards the small Central American nation. Moody’s cited two key reasons for […]

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Bitcoin Spikes to a 2-Month High Above $42K: Up 25% in July (Market Watch)

Bitcoin Spikes to a 2-Month High Above $42K: Up 25% in July (Market Watch)

July 31, 2021 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , Eddy 0

Bitcoin has initiated another leg up, resulting in charting a new two-month high of just over $42,000. Apart from Chainlink, most alternative coins trail behind, and BTC’s market dominance has increased to well above 48%. Bitcoin Taps a 2-Month High As reported earlier this week, bitcoin went on a tear after dabbling with the $33,000 […]

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Central Bank of China to Continue Crypto Crackdown in the Second Half of 2021

July 31, 2021 , , , , , , , , , , , , , , , , , , , , , , Eddy 0

The People’s Bank of China has come to decisions about the ongoing crypto crackdown in the nation during the second half of 2021. In a conference yesterday, a consensus was reached to “maintain” high pressure on digital currency trading in China, by encouraging and enabling trade and exchange platforms to adhere to regulatory requirements and […]

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Bitcoin (BTC) Closes 10 Daily-Green Candles in a Row After 4 Years, Price Soars to $42K

July 31, 2021 , , , , , , , , , , , , , , , , , , , Eddy 0

Bitcoin’s (BTC) price soared above $42K earlier today for the first time in a month as the top cryptocurrency looks to move out of a two-month-long bearish phase. The price rise saw BTC record a new monthly high of $42,235 before retracing below $42K. The next resistance lies at $45K and if BTC manages to […]

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$45B Asset Manager GoldenTree Has Reportedly Bought Bitcoin

July 31, 2021 , , , , , , , Eddy 0

GoldenTree Asset Management, a US asset management giant with $45B in AUM, has reportedly purchased portions of the primary cryptocurrency. The move aims to diversify some of the organization’s already existing strategies. Founded over two decades ago, GoldenTree is an asset manager headquartered in New York City with offices in numerous other important financial cities […]

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MicroStrategy’s Michael Saylor Defends the Massive $2.2 Billion Bitcoin (BTC) Debt

July 31, 2021 , , , , , , , , , , , , , , , , , , , , , , Eddy 0

On Thursday, July 29, business intelligence firm MicroStrategy revealed its second quarter results for 2021 declaring over $600 million with impairment losses with its bitcoin holdings. But company CEO and Bitcoin evangelist Michael Saylor continues to remain ultra-bullish on the future of Bitcoin. Saylor noted that buying Bitcoin right now is similar to buying Bitcoin […]

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Bitcoin (BTC) Shoots $42,000 As $45 Billion Asset Manager GoldenTree Starts Buying

July 31, 2021 , , , , , , , , , , , , , , , , , , , , , Eddy 0

Institutional inflows in Bitcoin (BTC) continue to grow at a faster rate. Just two days after banking giant State Street announced its crypto services, another $40+ billion asset manager GoldenTree has announced its investment in the world’s largest cryptocurrency. As a result, the Bitcoin (BTC) price is up 5% today shooting all the way to […]

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Just-in: Binance.US CEO reveals the exchange has no immediate IPO plans

July 30, 2021 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , Eddy 0

Binance.US CEO, Brian Brooks revealed in a recent interview, that the exchange has no plans of opting for a public listing anytime soon. Instead, he emphasized Binance.US is in process of closing a private funding round with “impressive” investor portfolios. Brooks brought up the discussion about the first venture financing round while differentiating Binance.US from […]

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Bitcoin’s Back to $40K, Millions of Shorts Liquidated: The Weekly Crypto Recap

July 30, 2021 , , , , , , , , , , , , Eddy 0

After weeks of prolonged consolidation and choppy sideways action in a very squeezed and narrow range, Bitcoin finally broke out. Fortunately, it was to the upside. Over the past week, BTC is up by a considerable 20%. At the time of this writing, it’s trading at around $39K, having pulled back slightly from the psychological […]

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MicroStrategy reveals nearly $690 million in impairment losses on BTC holdings

July 30, 2021 , , , , , , , , , , , , , , , , , , , , , Eddy 0

The Business intelligence organization, MicroStrategy has shared its second-quarter financial results for 2021 that revealed impairment losses of $689.6 million from its Bitcoin holdings. The Fortune 500 company holds $2.051 billion worth of BTC bought at an average price of $19,159 per bitcoin till June 30, 2021. The losses are mainly because the price at […]

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