Investment Analyst Pegs Bitcoin Price to Hit $3,678 If SEC Approves ETF
Emerita Capital, a provider of quantitative analysis for investment assets, believes bitcoin price could hit $3,678 if the Securities and Exchange Commission (SEC) approves the Winklevoss ETF on March 11. The company, writing in Seeking Alpha, recommends portfolios hold between 0.2% and 5.0% in bitcoin. It recommends purchasing bitcoin on an OTC spot exchange. Emerita Capital states at the outset that its views are contrary to many investment and research firms, a factor that has created an attractive return/risk ratio for investors taking positions in the bitcoin OTC market before March.....
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Needham & Co. LLC, a New York City-based investment firm, has begun covering the Bitcoin Investment Trust (BIT), giving it a “buy” rating and a $62.00 price target (PT). Needham estimates the present per-bitcoin value at $655. BIT is sponsored by Grayscale Investments, which is owned by Digital Currency Group, which invests in the blockchain and digital currency ecosystem. BIT is a private, open-ended trust that invests only in bitcoin. Hence, the value is based primarily on the bitcoin price. Needham, according to a 39-page report explaining its “buy” at $62 PT, believes the price of....
A new Bloomberg report indicates that bitcoin exchange Bitstamp has received an investment of approximately $10 million from Pantera Capital Management LP, a hedge fund that handles money for executives at Fortress Investment Group some time in late 2013. That pegs the funding as one of the largest in the bitcoin realm. The investment, led by Pantera's own Dan Morehead, came soon after an invite-only retreat in Lake Tahoe in which Morehead invited 30 entrepreneurs in the bitcoinosphere to discuss his plans. Bitstamp CEO Nejc Kodric being one of them. It's a highlight of just how closely....
The New York State Department of Financial Services, the Bitlicense regulator, has authorized GMO to issue U.S. dollar and Japanese yen-pegged stablecoins. The latter “will be the first of its kind available to the public.” To date, the regulator has given out 27 charters and licenses for companies engaged in crypto activities. First Regulated Yen Stablecoin Approved in NY The New York State Department of Financial Services (DFS) has granted a charter under New York Banking Law to GMO-z.com Trust Company Inc., a subsidiary of the Japanese giant GMO Internet. This enables the....
Is there such thing as a perfect currency? Many people will find issues with currencies in general, but according to a Chinese investor (who was the former CEO of a Chinese social reading service) Xu Mingxing, it just may be. Xu heard of Bitcoin in late 2011 and began buy in 2012, when the price was below $20 per coin. Today, his coins are worth about $820,000 - up from his original investment of $16,400. The news here is that this is coming from what could be described as a prominent business man in the world's emerging Chinese economy. Many are seeing potential in Bitcoin due to its....
A crypto analyst has outlined several price targets for popular doggy-themed cryptocurrency, Shiba Inu (SHIB). The analyst has predicted that SHIB could reach the highest price level of $0.0001605 in a few years. Shiba Inu To Hit $0.0001605 Abmoon, a crypto analyst at TradingView, a financial market analysis platform, has shared bullish predictions for Shiba […]