Square saw 1 million users buy bitcoin for first time during January’s upswing, CFO says

Square‘s Cash App platform saw a surge in first-time bitcoin buyers last month, CFO Amrita Ahuja told CNBC on Wednesday. “We had 3 million people transact in bitcoin through Cash App in 2020 and 1 million who were new to bitcoin in January [2021],” Ahuja said on “Squawk Alley,” just a day after her company … Read more

MicroStrategy buys more than $1 billion worth of bitcoin, adding to massive holdings

MicroStrategy announced Wednesday it bought just over $1 billion worth of additional bitcoin, just days after finalizing another sale of convertible debt. The Virginia-based enterprise software company said it paid an average price of $52,765 per bitcoin, including fees and other expenses. Its acquisition of approximately 19,452 bitcoins puts MicroStrategy’s total holdings of the digital … Read more

Bitcoin bounces back, surging above $50,000 after more buying from Square

Bitcoin virtual crypto currency price is displayed on a phone screen in this photo. STR | NurPhoto | Getty Images Bitcoin’s price roared back Wednesday after a sharp sell-off, climbing above $50,000 again as Square announced it had purchased $170 million worth of the cryptocurrency. At 4 a.m. ET, the world’s most valuable digital coin … Read more

MicroStrategy CEO says bitcoin will one day have $100 trillion market value even as price dives

MicroStrategy CEO Michael Saylor told CNBC on Tuesday he believes bitcoin will continue appreciating in value to the point where the cryptocurrency becomes a “stabilizing influence” for the entire global financial system. He predicted, in a bold call, that bitcoin’s market value would be worth $100 trillion one day. Saylor’s comments on “Squawk Box” came … Read more

Bitcoin tanks 10% after Elon Musk says prices seem high

Bitcoin soared on Tuesday to an all-time high reaching the $50,000 milestone at $50.602. Alain Pitton | NurPhoto | Getty Images Bitcoin slid Monday, pausing its stunning rally after Elon Musk said prices “seem high.” The world’s most valuable cryptocurrency sank over 10% to a price of $51,993 Monday morning, according to data from Coin … Read more

Ark Invest’s Cathie Wood on bitcoin ETF prospects and Tesla’s billion-dollar investment

Bitcoin’s long-term outlook is brightening, according to Ark Invest’s Cathie Wood. The CEO and chief investment officer of the explosively popular active management firm told CNBC this week that the cryptocurrency’s catalysts are adding up as it soars to unprecedented new highs. “I think the probability of an ETF has gone up,” Wood told CNBC’s … Read more

Elon Musk says bitcoin is slightly better than holding cash

Tesla Inc CEO Elon Musk on Thursday said that owning bitcoin was only a little better than holding conventional cash, but that the slight difference made it a better asset to hold. “However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere,” Musk said in a tweet. “Bitcoin is almost as … Read more

Yellen says investors should be very careful with some sectors, calls bitcoin ‘highly speculative’

Outgoing Federal Reserve Chair Janet Yellen holds a news conference after a two-day Federal Open Market Committee (FOMC) meeting in Washington, U.S. December 13, 2017. Jonathan Ernst | Reuters Treasury Secretary Janet Yellen told CNBC on Thursday that there could be parts of the U.S. stock market in which investors should exercise caution. In an … Read more

Bitcoin extends its rally to an all-time high close to $50,000

By Joanna Ossinger and Eric Lam Bitcoin reached another record, coming ever closer to $50,000, as the world’s largest cryptocurrency extends its breathtaking rally. The token climbed as much as 3.6 per cent to $49,913 in Asian trading Tuesday, according to a composite of prices compiled by Bloomberg. Bitcoin’s volatile, fivefold advance over the past … Read more