Why This Investor Fled His Bitcoin Position, Should You Do The Same?
Bitcoin has been moving sideways in the past day after a 20% dropped at the start of the week. The first cryptocurrency by market was showing strong conviction to the upside, but ultimately the excessive greed in the market could have played against the bulls. At the time of writing, Bitcoin trades at $46,875 with a 1.2% profit in the daily chart. A recent report by QCP Capital confirmed that the flash crash was preceded by an increase in leverage positions on the derivatives sector. The firm previously warned about the potential downside risk as derivatives were signaling “nervousness”....
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Kraken, a popular San Francisco-based cryptocurrency exchange, announced on Wednesday on the /r/BitcoinMarkets subreddit that its new margin trading option entered Beta launch. The launch of this option comes right after another popular exchange, Poloniex, opened a similar feature a few days ago. Margin Trading is the practice of buying stock with money borrowed from a broker. In this arrangement, the investor makes a cash down payment, called the margin, with the broker and can purchase stocks worth about twice the loan amount. The broker charges interest on this loan, and the investor....
Veteran investor and fund manager Bill Miller says he has “a very big position” in bitcoin and expects to see a lot of institutional adoption this year, particularly among endowments and foundations. “Bitcoin is insurance against financial catastrophe,” he opined.
Bill Miller Says ‘Bitcoin Is Insurance Against Financial Catastrophe’
Famed value investor Bill Miller talked about bitcoin in an interview with CNBC Wednesday. He is the founder of Miller Value Partners and currently serves as its chairman and chief investment officer.....
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Billionaire investor and Bridgewater Associates founder Ray Dalio have reiterated his position on Bitcoin. For a while, Dalio was a BTC skeptic but eventually warmed up to the cryptocurrency due to its characteristics and the current inflationary macro-economic outlook. In an interview with CNBC’s Squawk Box, Dalio talked about portfolio diversification and warned investors about […]
A developer for Tor, an encrypted web browser, fled the United States in order to avoid cooperating with the FBI with a hacking investigation. The developer, known as Isis Agora Lovecruft, was contacted by the FBI, which sought to subpoena her to appear in court in order to testify in a criminal hacking investigation. Instead, she quickly packed her belongings and fled to Germany last December. Legal protection sought from the Electronic Frontier Foundation. Lovecruft was contacted by FBI Special Agent Mark W. Burnett, who left his card with the cryptic message: “Please call me.” Fearing....