Ethereum co-founder Vitalik Buterin thinks that crypto is in a bubble and that the energy debate swirling around Bitcoin (BTC) mining requires the blockhain to embrace technological change. Buterin spoke with CNN on Tuesday, noting that "We've had at least three of these big crypto bubbles so far." He added that it could have ended already, or it could end months from now. i like this kid https://t.co/4wRBuwSObQ — Dmitry ButΞrin (@BlockGeekDima) May 20, 2021 The 27-year-old didn’t comment on whether the recent crash that sent Bitcoin down to around $30,000 was an indicator of the crypto bubble ending, but …

The Bitcoin (BTC) market bias stands divided on how to interpret the BTC price crash this week, wherein the pair lost more than 35% of its value at one point on Wednesday, crashing to as deep as $30,000 on Coinbase. Global media outlets attributed the plunge to China reiterating its anti-crypto business stance and Tesla suddenly discontinuing Bitcoin payments for its electric vehicles. Nikolaos Panigirtzoglou, managing director for global market strategy at JP Morgan, further noted an ongoing decline in the capital that flows into publicly listed Bitcoin funds. He suspected a rotational investment setup, wherein institutional investors were winding …

Bitcoin (BTC) fell below $40,000 on Wednesday as bearish sentiment continued to dictate price direction resulting in the cryptocurrency market losing $350 billion in value. Analysts calm as BTC/USD hits 15-week lows Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it put in lows of $38,500 before bouncing higher. Coming after a week of successive drops, Wednesday’s dip put Bitcoin at its lowest level since early February and 40% below its all-time highs. “Bitcoin putting in new lows, probably buy more soon,” popular trader Scott Melker told Twitter followers in a post that characterized the conversely calm mood …

Cathie Wood's Ark Investment has reported holdings of 639,069 shares in Grayscale's Ethereum Trust for Q1 — currently worth around $20.9 million at today’s prices. ARK Investment has bought 639,069 shares of the Grayscale Ethereum Trust. pic.twitter.com/ofXD5F7QpA — Documenting Ethereum (@DocumentEther) May 18, 2021 The news of Ark’s major investment into Ethereum was seen as a bullish sign by Ethereum and DeFi proponents. Mythos Capital founder and Bankless author Ryan Adams emphasized how significant he saw the development: “Remember when you told you the institutions would never buy ETH? They keep underestimating this asset. ETH IS MONEY.” Ether bulls have …

Cryptocurrency adoption on a United Kingdom-based payment app is booming in the first quarter of 2021, but whether that trend continues could depend on the actions of Bitcoin (BTC) evangelists like Elon Musk, warns STICPAY director James Bay. The mobile payments app reported a 48% increase in crypto deposits in the first quarter of the year, while fiat deposits remained static. Bitcoin is apparently the currency of choice for most of STICPAY’s e-wallet users, with Bitcoin deposits eclipsing deposits of Ether (ETH), Tether (USDT) and Litecoin (LTC) 38 times over. The firm also reported a 185% increase in the number …

Bitcoin (BTC) is nearing $40,000 this week as “Dogefather” Elon Musk deals out pure pain to hodlers — what’s next? After a traumatic weekend for many crypto investors, Monday is setting the stage for the next chapter in the wild 2021 bull market. Cointlegraph takes a look at five factors that could shape what Bitcoin and altcoins do next. Musk tweet hits key Bitcoin technical level It’s all about one man yet again this week: Elon Musk. In characteristic fashion, the Tesla and SpaceX CEO caused uproar on Twitter when he came out bearish on Bitcoin. BTC/USD sold off immediately …

Elon Musk appears to have again been the catalyst for Bitcoin’s (BTC) price shedding more than 10% over the weekend after Tesla’s CEO appeared to suggest the firm may be planning to dump BTC from its balance sheet this quarter. On Sunday, Musk replied to a tweet predicting that Tesla may dump its BTC holdings this quarter. To the chagrin of the Bitcoin community, Musk simply replied: “Indeed.” Indeed — Elon Musk (@elonmusk) May 16, 2021 With Musk’s popularity already dwindling within the crypto community after he criticized the energy efficiency of Bitcoin amid Tesla’s suspension of support for vehicle …

As corporate finance leaders prepare to set sail into the post-COVID-19 world amid inflation storm warnings, an increasing number of corporations are taking stock of their treasury reserve holdings. If the worst happens, and the dollar and other reserve currencies weaken, are they sure that all their balance-sheet cash is lashed down securely? It surely hasn’t escaped their notice, after all, that a number of public companies that “joined” Bitcoin (BTC) in a big way over the past year recently broadcast strong Q1 2021 earnings. Square, which holds $472 million worth of BTC, for instance, reported a quarterly gross profit …

The founder of one of the first physical cryptocurrency exchanges has slammed what he perceives as hypocrisy on the part of Elon Musk after the Tesla CEO announced the electric car firm would stop accepting Bitcoin (BTC) as a form of payment. The charges of hypocrisy leveled at Musk stem from the fact that around $1.5 billion worth of Bitcoin remains on Tesla’s balance sheet. Musk criticized Bitcoin’s energy consumption in a recent tweet where he announced that Tesla had suspended vehicle purchases using Bitcoin. The sudden reversal by Musk comes just six weeks after Tesla made big news by …

Elon Musk’s latest foray into crypto markets came a few hours ago when he tweeted he is working with the Dogecoin developers to improve the cryptocurrency’s efficiency. “Working with Doge devs to improve system transaction efficiency. Potentially promising.” According to CoinGecko, the price climbed 26% from $0.38 this morning to $0.48 at the time of writing. The tweet’s reference to “efficiency” seemed to lend weight to the idea Tesla may add Dogecoin (DOGE) as a form of payment after the CEO noted on Thursday the firm is looking at greener cryptocurrencies that use less than 1% of Bitcoin’s energy per …

Elon Musk has reportedly lost $20 billion since his May 8 appearance on Saturday Night Live, as the news of Tesla halting Bitcoin payments for cars continues to send shockwaves across markets. On May 7, the day before Musk made his appearance on SNL, Tesla stock was sitting at $669. In the week since, the stock has declined 14% to sit around $573. According to Forbes estimates, this sudden drop has seen Musk’s $166-billion net worth plunge by $20 billion down to around $145.5 billion. The 14% drop this week adds to an overall downward trend for Tesla stock over …

After months of touting the benefits of Bitcoin (BTC) and blockchain technology, Tesla CEO Elon Musk shocked Crypto Twitter on Wednesday by announcing that the electric car company would suspend its accepting BTC as a form of payment, citing concerns related to the energy required to mine the top cryptocurrency. As Tesla issued its statement, Bitcoin, Ether (ETH) and a large segment of altcoins sold off sharply, but there were a few projects that found clever ways to capitalize off the mayhem by tweeting about the “green” nature of their networks, which require only a tiny fraction of the energy …