Guggenheim says it could invest up to $530 million in a bitcoin trust as the cryptocurrency flirts with new record highs | Currency News | Financial and Business News


  • Guggenheim Partners revealed in a Friday regulatory filing that its Macro Opportunities Fund holds the right to invest up to 10% of its net asset value in Grayscale Bitcoin Trust.
  • The trust solely invests in bitcoin, and a 10% bet from Guggenheim’s fund equates to roughly $530 million.
  • The filing comes as bitcoin climbs back above $19,000 after tumbling through the Thanksgiving holiday. Though the token has more than doubled through the year, it still trades below its 2017 record of $19,783.06.
  • Watch bitcoin trade live here.

Guggenheim Partners is the latest Wall Street firm to show interest in bitcoin, and a Friday regulatory filing signals the firm could make a massive investment in the soaring cryptocurrency.

Guggenheim revealed its Macro Opportunities Fund holds the right to invest up to 10% of its net asset value in Grayscale Bitcoin Trust, according to a Securities and Exchange Commission

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PayPal and Square’s Cash App have scooped up 100% of newly-mined Bitcoin, report says | Currency News | Financial and Business News

  • PayPal and Square’s Cash App have scored 100% of the new supply of Bitcoin, according to crypto hedge fund Pantera Capital.
  • A chief reason of Bitcoin’s rally is because of the ease of investing via PayPal, Cash App, and Robinhood, the firm said.
  • PayPal has already bought 70% of newly-issued Bitcoin, while Square is estimated to be buying about 40%.
  • Visit Business Insider’s homepage for more stories.

PayPal and Jack Dorsey’s Cash App have bought 100% of newly-mined Bitcoin as the digital token is seeing a record rally this year, according to Pantera Capital’s monthly blockchain newsletter.

After PayPal announced it would allow its users to buy, sell, and hold the digital token, about 300 million active users got instant access to digital currencies.

The US payments firm’s crypto exchange platform, called itBit, was recording only moderate volumes until PayPal’s announcement.

But once PayPal’s service went live,

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Bitcoin is ‘here to stay’ thanks to huge demand from millennials, BlackRock’s Rick Rieder says | Currency News | Financial and Business News


  • Bitcoin is “is here to stay,” BlackRock’s chief investment officer of fixed income Rick Rieder told CNBC on Friday.
  • Rieder pointed to millenials openness to cryptocurrencies and digital payments as one reason why the popular crypto currency isn’t going anywhere.
  • While Rieder said he doesn’t own bitcoin in his own portfolio, he does see potential for bitcoin to “take the place of gold to a large extent,” according to the interview.
  • Visit Business Insider’s homepage for more stories.

Bitcoin isn’t going anywhere, according to BlackRock’s CIO of fixed income Rick Rieder.

In an interview with CNBC on Friday, Rieder said bitcoin is “here to stay” thanks to millenials’ openness to the cryptocurrency and digital payments in general.

The comments come in a month where bitcoin has surged 37% to levels not seen since its run to just under $20,000 in December of 2017.

Rieder believes bitcoin has

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Bitcoin climbs above $16,000 to its highest level since January 2018 as crypto rally pushes forward | Currency News | Financial and Business News


  • Bitcoin soared above $16,000 early Thursday morning, breaking above the support level for the first time since January 2018.
  • The world’s largest cryptocurrency has rallied in recent weeks on a wave of market volatility and growing adoption.
  • The latest uptrend kicked off in October after PayPal announced it would allow users to buy, sell, and hold bitcoin. It’s broken several key psychological levels since.
  • Watch bitcoin trade live here.

Bitcoin surged above $16,000 for the first time since January 2018 on Thursday as the token continued its climb to new heights.

The world’s largest and most popular cryptocurrency leaped as much as 3% from its 24-hour open to an intraday high of $16,157 early Thursday morning. It quickly erased most of the gains and traded just below the support level at around 8 a.m. ET.

The rally follows similarly rapid leaps for the coin throughout the month.

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iOS and macOS ‘Fortnite’ players given in-game currency to use on other platforms

Epic Games has compensated players affected by its lawsuit against Apple over “Fortnite,” by crediting macOS and iOS players with V-Bucks to their accounts that can be spent on other platforms.

Players of “Fortnite” on iOS and macOS have been left without the ability to enjoy their V-Bucks, an in-game currency used to buy items, following Apple’s decision to block further updates to the game while the Apple-Epic lawsuit rolls on. For the moment, Epic has attempted to appease affected players who are not able to enjoy the funds they have paid for.

Epic has advised it has started to grant a V-Bucks bonus to players who used iOS and macOS, which can be spent “on any platform,” reports The Verge. The grants, which have been added to accounts as of November 9, can be used on any other platform the game is available to play on,

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Ex-Microsoft engineer gets 9 years in prison after using digital currency scheme to buy $1.6M lakefront home, $160K Tesla

An ex-Microsoft engineer was sentenced to nine years in prison for 18 federal felonies after he stole more than $10 million worth of digital currency from his ex-employer and used the funds to finance purchases including a $1.6 million lakefront home and $160,000 Tesla vehicle.



a sign on the side of a flower garden: The Microsoft campus in Redmond, Wash. (GeekWire File Photo)


© Provided by Geekwire
The Microsoft campus in Redmond, Wash. (GeekWire File Photo)

Volodymyr Kvashuk, a 26-year-old software developer and Ukrainian citizen who worked for Microsoft from 2016 to 2018, took advantage of a testing program for Microsoft’s online retail sales platform. Kvashuk, a resident of Renton, Wash., stole “currency stored value” such as Microsoft gift cards and then resold them online.

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Kvashuk used a “bitcoin mixing service” to try and conceal the source of the funds he was moving into his bank account. He also used test email accounts associated with other employees.

After seven months of illegal activity, Kvashuk transferred about

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Billionaire investor Mike Novogratz won half a bitcoin in an election bet, then gave it away through a self-hosted lottery | Currency News | Financial and Business News


  • Billionaire investor Mike Novogratz won half a Bitcoin in an election bet over the weekend, but then hosted a lottery to hand it out to “new Bitcoiners.” 
  • Novogratz, the CEO and founder of crypto-focused merchant bank Galaxy Digital, was expecting Democrats to secure both the White House and the Congress.
  • A Twitter user @Adelgary won the lottery, but others contested the outcome by claiming he already owns Bitcoin and isn’t new to the crypto world.
  • Half a Bitcoin is currently worth $7,726.
  • Visit Business Insider’s homepage for more stories.

Billionaire investor Mike Novogratz said he won half a Bitcoin in an election bet on Saturday, and gave it up in a self-hosted lottery to a Twitter user.

Half a Bitcoin is currently worth $7,726. Bitcoin has risen 10% in the past week, hitting $15,453 as of 10:20 am GMT on Monday. The price has gained almost 60%

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Famed investor Mike Novogratz expects a Biden victory and a Republican-controlled Senate to boost tech stocks and Bitcoin | Currency News | Financial and Business News

Investor Mike Novogratz


  • If Joe Biden wins the presidency and Republicans hold the Senate, both stocks and Bitcoin will benefit, Galaxy Digital CEO and investor Mike Novogratz said on CNBC’s Squawk Box on Wednesday.
  • “The markets are liking this,” Novogratz said about the potential for a conservative Senate and an end to President Trump’s “chaos.”
  • Novogratz added that if a divided US government fails to pass more fiscal stimulus and the Federal Reserve steps in to shore up financial markets, Bitcoin and other cryptocurrencies could gain.
  • “Less fiscal, more Fed, good for crypto,” he said.
  • Visit Business Insider’s homepage for more stories.

Stocks and Bitcoin will do well if  Joe Biden wins the presidency and Republicans hold the Senate, Galaxy Digital CEO and investor Mike Novogratz said on CNBC’s Squawk Box on Wednesday.

“The markets are liking this,” Novogratz said about the prospect of a mostly conservative

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JPMorgan launches blockchain division called Onyx after a big tech client adopts its cryptocurrency for commercial use | Currency News | Financial and Business News


  • JPMorgan has launched Onyx, a new business division for its blockchain projects, after its digital token was adopted for commercial use by a big technology client for the first time this week, CNBC reported.
  • A JPMorgan spokesperson confirmed the report.
  • JPM Coin is now being used for round-the-clock global payments by a “large technology client,” the bank’s global head of wholesale payments told CNBC. The client was not named.
  • “We are launching Onyx because we believe we are shifting to a period of commercialization of those technologies, moving from research and development to something that can become a real business,” Takis Georgakopoulos said in a CNBC interview.
  • Visit Business Insider’s homepage for more stories.

JPMorgan has launched a new business division dedicated to blockchain technology, called Onyx, after the bank’s own digital currency was adopted for commercial use this week, CNBC reported on Tuesday.

A JPMorgan spokesperson

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US stocks close mixed as tech surge battles against industrial sell-off | Currency News | Financial and Business News

  • US stocks closed mixed on Tuesday as investors weighed optimism in the tech sector against continued sell-offs in other corners of the market.
  • Xilinx traded higher after Advanced Micro Devices announced it will buy the latter in a $35 billion all-stock deal. The acquisition and anticipation for Microsoft’s afternoon earnings report drove tech stocks higher.
  • Yet the leaping tech sector failed to pull the S&P 500 and Dow Jones industrial average into positive territory. A resurgence of coronavirus hospitalizations weighed heavily on financial and industrial stocks.
  • The mixed session follows the S&P 500’s worst day in a month. Monday saw major indexes tumble on the confluence of waning stimulus hopes and record new COVID-19 cases.
  • Watch major indexes update live here.

US stocks closed mixed on Tuesday as renewed concerns around surging coronavirus cases squared off with rallying tech stocks.

Advanced Micro Devices boosted the tech sector after

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