• bitcoin trillion JPMorgan economic sideshow
    Bitcoin

    As Bitcoin breaks into trillion-dollar club, JPMorgan calls it an ‘economic sideshow’

    The bank’s analysts believe that Bitcoin is becoming a more cyclical asset, turning the cryptocurrency into the ‘poorest hedge’ against a stock market downturn

    Despite that, JPMorgan’s “Digital transformation and the rise of fintech: Blockchain, Bitcoin and digital finance 2021” concluded that “Bitcoin is here to stay as an 'alternative' currency.” According to the Feb. 18 report, current Bitcoin prices greatly exceed JPMorgan’s estimates of its fair value, based on mining costs and its risks compared with gold.

  • Bill Miller investing BTC
    Bitcoin,  People

    Hedge fund star Bill Miller putting up to $330M in BTC

    The $2.25B Miller Opportunity Trust has become the latest big-name Wall Street fund to invest in bitcoin, announcing it will put up to 15% of its worth into the Grayscale Bitcoin Trust

    With this action, Miller just put even more money into an asset that he has recommended for many years. According to a March 2014 Bloomberg report, he has owned Bitcoin as part of his personal investments for nearly seven years, linkening it to “making a venture bet.”

  • dump gold for bitcoin
    Bitcoin,  Regulation

    CCB International Securities dumps gold for bitcoin

    Mark Jolley said that the Hong-Kong-based asset management firm sold one-third of its gold for bitcoin, despite being owned by China Construction Bank, a giant in bitcoin-banning China

    Jolley suggested that a bitcoin allocation belongs in all portfolios, after suggesting that the United States dollar will see significant inflation next year. “We normally have a 15% allocation [...] to gold, bitcoin will come in and replace some of that gold allocation. I’ve set it at 5%," he said.