Fundstrat’s Lee: Bitcoin is ‘Underappreciated’, Will Reach $25,000

The bitcoin bears may be in control at the moment, but that is not leading one cryptocurrency market strategist to recoil. Fundstrat Global co-founder Thomas Lee is standing firm on his outlook for the bitcoin price to reach USD 25,000 by year-end despite the fact that the leading cryptocurrency has just revisited April lows and

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Federal Reserve’s Kashkari Rips Cryptocurrency Market: ‘It Has Become a Farce’

Neel Kashkari, the president of the Minneapolis Federal Reserve, slammed the cryptocurrency industry, saying it has become a “farce” due to unregulated chaos and escalating fraud. Kashkari made the biting remarks at Bay College in Escanaba, Michigan, on May 21, where he expressed dismay at the proliferation of scams in the nascent crypto ecosystem. “It’s

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‘Decent Probability’ Bitcoin Price Goes to Zero: Vanguard Economist

An economist at one of the world’s largest asset managers believes there is a “decent probability” that the bitcoin price will eventually crash to zero. Joe Davis, the chief economist for $5.1 trillion asset manager Vanguard, wrote in an ETF.com op-ed that although the firm is enthusiastic about blockchain technology in general, it does not

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Opinion: The Bubble is Not Bitcoin

Although the market is positive overall, at the time of writing, the sentiment is quite negative. Maybe due to the high expectations over Consensus, which did not create that much demand over bitcoin, at least not as much as it happened during previous years. I understand it’s your money that is at stake and the

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Goldman Sachs CEO Blankfein to Step Down, Bestowing Complex Bitcoin Relationship

Lloyd Blankfein, 63, is expected to step down as CEO of Goldman Sachs in December, leaving the bank’s future uncertain in several ways, including its relationship with bitcoin. The New York Times reported that Blankfein will likely depart following the company’s December annual dinner for retired partners. While the bank earlier this month announced plans

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Bitcoin Mining Firm Trolls Warren Buffett with Billboards Outside His Office

Genesis Mining‘s bitcoin advocacy campaign has posted billboards outside of Warren Buffet’s office to remind him that he was wrong about Google and Amazon and warn him he may be wrong about bitcoin, too. The billboards went up shortly after Buffet dissed bitcoin during a Berkshire Hathaway annual shareholders’ meeting. Some new billboards outside of

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Ethereum Could Be the Next Apple: Steve Wozniak

Blockchain platform Ethereum could be the next Apple, one of the iconic tech company’s co-founders said this week. According to Forbes, Steve Wozniak made this bullish prediction in front of 5,000 people at this week’s WeAreDevelopers conference in Vienna. “Ethereum interests me because it can do things and because it’s a platform,” he said, adding

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Alibaba’s Jack Ma Joins the Bitcoin Bashing Brigade but Backs Blockchain

Jack Ma has joined the bitcoin bashing brigade, although he remains keen on blockchain. Ma, chairman of Alibaba and considered China’s richest man, said during the second World Smart Conference in Tianjin that bitcoin is a bubble, according to a local industry report. In the past, he has said he does not understand bitcoin but

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Why Warren Buffett Is Wrong on Bitcoin, According to Legendary VC Fred Wilson

Legendary venture capitalist Fred Wilson has issued an open response to Warren Buffet’s recent claim that bitcoin is equivalent to “rat poison squared” is fundamentally flawed. The American investing tycoon, Wilson said, has not done his research. Why Bitcoin Has Value Speaking at the Consensus 2018 conference in New York City, Wilson said that the

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Bitcoin Only Used for Money Laundering and Speculation: ‘Big Short’ Investor

Wall Street veteran Steve Eisman rose to fame by shorting the sub-prime mortgage market ahead of last decade’s financial crisis. Now, he’s similarly-bearish on a new asset class: cryptocurrency. Eisman, whose career is chronicled in The Big Short, told CNBC that he has yet to meet anyone who can persuasively argue that cryptocurrencies have social

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