Bitcoin (BTC) broke out to a new all-time high today, buoyed by the news that Tesla has purchased $1.5 billion worth of Bitcoin, according to a filing with the Securities and Exchange Commission. In addition to the Bitcoin purchase, Tesla also plans to offer its customers the option of buying products with BTC. Instead of converting BTC payments to fiat upon receipt, Tesla may decide to add it to its reserves. In addition to Tesla’s purchase, legendary investor Bill Miller also plans to increase his exposure to Bitcoin by investing over $300 million in Grayscale Bitcoin Trust. These purchases by …

The rise of interest in cryptocurrencies amid Bitcoin (BTC) and Ether (ETH) bull runs often goes hand in hand with the proliferation of scams and manipulation schemes related to various altcoins. One of the main manipulation schemes running in the crypto markets is pump and dumps. These schemes artificially inflate the price of the asset to enable a select few to sell it at a higher price before it ultimately comes crashing down. What makes crypto markets more vulnerable to such schemes when compared with traditional equity markets is that cryptocurrency is an asset class that is void of underlying …

Bitcoin’s (BTC) correction from its January high has not shaken the confidence of institutional investors. According to Glassnode analysts, the number of whales holding more than 1,000 Bitcoin has increased by 200 this year. Along with the institutions, several high profile investors have also committed money to the crypto sector. Hedge fund manager Paul Tudor Jones, former PepsiCo CEO Indra Nooyi, and American rapper LL Cool J have invested in a new venture capital crypto fund launched by Silver Lake Partners co-founder Glenn Hutchins and his associates. The steady inflow into crypto assets suggests that investors are bullish in the …

Several DeFi tokens saw their prices breakout on Feb. 4 as Bitcoin (BTC) and Ether (ETH) prices traded sideways for the day. Aside from the general bullish trend permeating the DeFi sector, positive comments from big-name investors touting the benefits of blockchain technology and DeFi appear to be lifting sentiment throughout the sector. Currently, Bitcoin price is still struggling to reclaim the $38,000 level and according to Cointelegraph analyst Marcel Pechman, top traders may have added to their short positions as BTC rallied toward $38,000 on Feb. 3. Elon Musk made waves again as his “DOGE” tweet resulted in a …

Bitcoin’s (BTC) stellar run in the latter half of 2020 and MicroStrategy’s purchase of the digital asset appears to have attracted attention from several publicly listed companies in the United States. However, the lack of regulatory clarity could have deterred them from buying Bitcoin at lower levels. To address this issue, business intelligence firm MicroStrategy is hosting an online seminar on Feb. 3 and 4, where “the legal considerations firms face while integrating Bitcoin into their corporate strategy” will be discussed. Several major crypto firms will also make presentations to the audience. About 1,400 firms have signed up for the …

Tesla CEO Elon Musk recently voiced his support for Bitcoin (BTC) during a chat with Clubhouse. Musk said that his friends tried to onboard him to the Bitcoin bandwagon as early as 2013, but the world’s richest man did not take the final step. Musk admitted that he was “late to the party.” Musk also said that Bitcoin could be “on the verge of getting broad acceptance by conventional finance." While these comments by the SpaceX founder are positive, they did not move the markets since he did not commit to buying Bitcoin as a personal investment or for the …

Between Jan. 30 and the early hours of Feb. 1, XRP price pumped 147%, reaching $0.76 which is its highest level in two months. The move seems to have been fueled by r/Satoshistreetbets, an off-shoot of r/Wallstreetbets. It seems that speculative social media group-based investing is becoming a trend so let’s take a look at what triggers might have catalyzed the recent surge in XRP price. Data from TheTie, an alternative data provider focused on social analytics, shows just how significant the impact of active Twitter users has been on XRP price. Even Gene Simmons, the legendary musician from the …

XRP, the number-four cryptocurrency by market capitalization, crashed nearly 50% in under two hours on Feb. 1 as a trading frenzy backfired on new investors. XRP traders nurse 48% losses Data from Cointelegraph Markets and TradingView showed that extreme volatility set in for XRP/USD during Monday trading, hours after now-infamous Reddit group r/Wallstreetbets opted to buy the token en masse. After reaching highs of $0.75, losses began mounting fast, the downside accelerating until XRP bounced off lows of $0.39 — 48% beneath the top. At the time of writing, XRP/USD traded at around $0.45, with large swings still commonplace on …

Bitcoin (BTC) starts a new week with $30,000 intact and a message of support from the world’s richest man — what can we expect next? As trading resumes around the world, the largest cryptocurrency is still lacking decisive momentum up or down. Cointelegraph takes a look at five factors which could play a part in shaping Bitcoin price trajectory in the coming days. Stocks wary of "Reddit raiders" Equities began Monday with volatile behavior after seeing their worst performance since October last week. In what is likely to become a continued narrative, markets are still feeling the impact of a …

Gene Simmons, a rock and roll legend and a known fan of cryptocurrencies like Bitcoin (BTC), has reaffirmed his bullish stance on crypto by purchasing several cryptos. The Kiss frontman said on Feb. 1 that he now owns several cryptocurrencies including XRP and Dogecoin (DOGE). Simmons did not hint at how much he invested and noted that his statement is not a recommendation. Not recommending any of these to anyone. But yes, I also bought Dogecoin, XRP and others. Make of it what you will. — Gene Simmons (@genesimmons) February 1, 2021 Simmons claimed that he has also bought and …

XRP price underwent a strong 86% breakout in the early trading hours on Jan. 30 as the fourth-ranked cryptocurrency by market cap became the new coin of focus in the r/Wallstreetbets cryptocurrency-focused off-shoot r/Satoshistreetbets. Data from Cointelegraph Markets and TradingView shows that XRP rose from $0.28 to a peak at $0.51 before profit selling pulled the price back to $0.41. It appears that the antics of the past week which saw r/Wallstreetbets pump GameStop, AMC and Dogecoin (DOGE), have carried over into the weekend as Stellar (XLM) also saw its price pump in tandem with XRP. After rallying more than …

Ripple's case before the Securities and Exchange Commission is threatening to have major, well, ripple effects for the industry. On Jan. 29, Ripple Labs filed its response to the SEC's complaint. Ripple, as it has many times before, argued that XRP is not a security i.e. an investment in Ripple and is therefore not in the SEC's jurisdiction. Ripple is, moreover, prepared to drag the rest of the industry into its fight to make its case. A Ripple representative told Cointelegraph: "The SEC has clearly picked two winners and ignored a growing and robust industry that is much larger than …