David Tait, CEO of the World Gold Council, expressed his personal belief that bitcoin could eventually drop to zero because it behaves like a high-risk asset during market stress, rather than a safe haven. He contrasted bitcoin with gold, which central banks continue to buy amid debt concerns and geopolitical risks. Despite his skepticism, Tait acknowledged that holding both gold and bitcoin can diversify portfolios since they react differently to market events. The debate continues as bitcoin supporters highlight its unique features and growing adoption, while gold remains favored for its long-term stability and central bank backing.
The total cryptocurrency market capitalization fell by 2.92% to $2.62 trillion as of midnight ET Monday, even though Bitcoin and four out of five other major cryptocurrencies posted gains. Bitcoin rose 0.77% to $78,420, Ether increased 1.17% to $2,29...
Bitcoin is currently 39% below its all-time high, with Ethereum down 55%, and meme coins like Dogecoin and TrumpCoin falling 90% to 99% from their peaks. In contrast, the S&P 500 is only about 3% below its record high, showing much smaller losses. Th...
U.S. spot Ether (ETH) exchange-traded funds experienced significant net outflows totaling $432 million over five trading days from October 26 to 30, marking the fifth consecutive week of outflows. During the same period, Bitcoin (BTC) spot ETFs saw $...
The FBI has attributed the Binance hack to the North Korean group TraderTraitor, revealing that about $242 million in stolen funds moved through the Tron blockchain over two days. The funds were primarily routed through decentralized finance platform...
Bitcoin (BTC) has closed above its 50-week moving average for the seventh consecutive week, maintaining a positive trend despite a recent hack that resulted in over $6 billion stolen from a cryptocurrency exchange. This marks an extension of a six-we...
