Bitcoin as a global standard would be an ‘absolute economic catastrophe’ – Ernst & Young’s global blockchain leader

(Kitco News) If Bitcoin becomes a global monetary standard, it would be an “absolute economic catastrophe,” said Paul Brody, global blockchain leader at Ernst & Young. The world’s largest cryptocurrency is, by default, considered a deflationary asset in the digital space. What this means in the world of cryptocurrencies is that … Read more

Crypto Crash: How Bitcoin and Ethereum Prices Changed in June 2022

Cryptocurrencies like bitcoin BTCUSD, +3.47% and ETHUSD ether, +4.04% have exploded in popularity in recent years and are now traded by individual investors and large companies like Tesla TSLA, +0.10% and Citibank. The total market cap for all cryptocurrencies reached nearly $3 trillion during parts of 2021 and companies like Robinhood HOOD, -0.12%, Coinbase COIN, … Read more

Market diversion can do the trick

Bitcoin price creates a case to mark $23,878 upwards. Ethereum price could support 20% of gains if incipient cryptocurrency diversion continues. XRP price appears to outperform Bitcoin and Ethereum with a robust 30% profit forecast. The price of Bitcoin, Ethereum and other cryptocurrencies appears to be diverging from global markets this morning after the third … Read more

Nothing comes out unscathed: Here’s what downcycle inflation means for Bitcoin — Coinbase’s David Duong

(Kitco News) Inflation in a recessionary environment is an entirely different beast to deal with all assets, and Bitcoin is no exception, according to Coinbase Head of Institutional Research David Duong. The cryptocurrency market has seen a strong sell-off this week, with Bitcoin down 32% in the last seven days and trading at $20,464. … Read more

Opinion: You can now use bitcoin to pay college tuition — but should you?

Coming soon? No, it’s already here: you can pay college tuition with bitcoin. Bentley University, a small business-focused private university outside Boston, now allows undergraduates to pay with bitcoin, BTCUSD, +0.38% Ethereum ETHUSD, +0.72% and USDTUSD stablecoin, -0.17%. The Wharton School of Business at the University of Pennsylvania accepts cryptocurrencies for its six-week $3,800 Blockchain … Read more

Coachella for Capitalists: Why Bitcoin Topped the Berkshire Hathaway AGM Account

It’s been called the Woodstock of Capitalism, Coachella for Capitalists, and much worse too. What is certain is that Berkshire Hathaway’s annual general meeting is a must-event for market lovers. While our UK readers may have enjoyed the holiday, the long weekend saw a lot of inflammatory comments from Berkshire leaders Warren Buffett and Charlie … Read more

Do you accept Bitcoin payments? Crypto-curious corporations struggle to find the right recipe

Four years ago, fried chicken chain KFC tweeted from its Canadian account that it would accept bitcoin as payment for its “buckets”. The company told AFP that its ironic campaign – “digital contest for chicken tenders” – sold out within an hour and the chain has not received cryptocurrency payments since, but online articles regularly … Read more