Browsing: Bitcoin

(Bloomberg) — Billionaire Ray Dalio said investors should reduce their bond holdings and put as much as 15% of their money in gold to hedge against the risk of a US debt crisis that he warns could be just three years away.

Bitcoin’s (COIN:BTCUSD) move out of its recent trading range appears to have been driven primarily by improving US regulatory sentiment rather than broader concerns about currency debasement

Over the last 48 hours, the price of bitcoin is up about 18% to more than $77,600 as of the time of this writing. Bitcoin prices hadn’t traded above the $70,000 level since late May prior to this latest push, per Yahoo Finance AlphaSpace data.

U.S. Treasury Secretary Scott Bessent told CNBC on Thursday that the government’s bond buyback program could grow.

Bitcoin and Ethereum surged above $69,500 and $2,000 on Wednesday after the US Treasury doubled planned buybacks of long-dated government debt.

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Bitcoin (BTC) is a decentralized digital currency without a central bank or single administrator. It can be sent from user to user on the peer-to-peer Bitcoin network without intermediaries.

The $40 trillion US debt mark is now within reach, at $39.9 trillion on Tuesday. That equals roughly $116,000 for every American, or nearly two Bitcoins at today’s price.

Intesa Sanpaolo, Italy’s largest bank, disclosed a $966.42 million stake in SpaceX just weeks after slashing its exposure to BlackRock’s Bitcoin ETF.

Bitcoin USD trades near $63,500 as of August 18, up roughly +1% on the day after bouncing off an intraday low of $62,751, according to data from CoinGecko. The recovery pushed price above the 78.6% Fibonacci retracement at $63,152 and left BTC near the $65,000 resistance area.