Bitcoin rose for the second consecutive session Monday, up following the five-week low it hit Saturday, less than a week after the SEC denied approval of the first bitcoin-based exchange traded fund. Get a First Look at the Dodge Demon — It Will Probably Be the Fastest Muscle Car Ever at Over 900hp
Category: Bitcoin
Bitcoin Plummets 18% as SEC Rejects Winklevoss ETF Proposal
Bitcoin’s price plummeted after U.S. regulators rejected a proposal by the Winklevoss twins for a publicly traded fund based on the digital currency, dashing hopes that a government-approved investment vehicle would lead to wider interest in virtual money. The Securities and Exchange Commission refused to grant an exemption that would have let the Winklevoss Bitcoin Trust trade on the Bats BZX Exchange, according to a filing posted Friday on the regulator’s website.
IBM, Maersk in Blockchain Tie-Up for Shipping Industry
IBM and Danish transport company Maersk said they were working together to digitize, manage, and track shipping transactions using blockchain technology. The technology, which powers the digital currency bitcoin, enables data sharing across a network of individual computers.
How Strong Is the Bull Case for Bitcoin?
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Automated Traders Take Over Bitcoin as Easy Money Beckons
Zhou Shuoji is not a bitcoin believer. He says the cryptocurrency will never replace its traditional forebears, and he calls most of its proponents fanatics.
Why Overstock.com, Inc. Stock Skyrocketed 41.7% in 2016
Overstock’s first big jump came in February, when shares soared 23% after an encouraging fourth-quarter 2015 report but not so much because of its actual headline numbers. For perspective, Q4 2015 revenue climbed just 2% year over year, to $480 million, while net income was $110,000, or breakeven on a per-share basis and down from $0.06 per share in the same year-ago period.
China’s central bank launches spot checks on bitcoin exchanges
China’s central bank said on Wednesday it launched spot checks on major bitcoin exchanges in Beijing and Shanghai, knocking the price of the cryptocurrency down by more than 6 percent. The probe of bitcoin exchanges, including BTCC, Huobi and OKCoin, was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing, the People’s Bank of China said.
Bitcoin Hits All-Time High as Currency Controls Drive Fear
Bitcoin hit an all-time high Wednesday, according to Bloomberg data, thanks to continued adoption in China and other parts of the world where traditional currencies are tightly controlled. The digital currency, which just turned eight years old, reached $1,140.64, which was higher than the $1,137 it hit in November of 2013.
Bitcoin’s Rally Crushed Every Other Currency in 2016. Here’s Why
Bitcoin, that nebulous digital currency that trades in cyberspace and is “mined” by code-cracking computers, emerged as a better bet this year than every major foreign-exchange trade, stock index and commodity contract. The electronic coin that trades and is regulated like oil and gold surged 79 percent since the start of 2016 to $778, its highest level since early 2014, data compiled by Bloomberg shows.