Bitcoin Hits $10K — Paul Tudor Jones Buys BTC Comparing it to Gold

Today Bitcoin (BTC) hit $10,000 after finally managing to break above a long-term descending trendline at $9,400. The break above the important psychological level comes as there are only 4 days left until the Bitcoin block reward halving and a strong sustained surge in purchasing volume shows retail traders are steadily piling into the digital asset. Crypto market weekly price chart. Source: Coin360 Data from Cointelegraph Markets and CoinMarketCap shows that shortly after 11:34 p.m. UTC BTC/USD moved to $10,000. From this point traders will watch to see if the…

Here’s What Analysts Think Comes Next

Just hours after our last market update, Bitcoin has topped $10,000. This is the first time the cryptocurrency has done this in over seven weeks. After holding $9,400 for all of Wednesday, the cryptocurrency surged higher over the past few hours, passing resistance after resistance in the $9,000s, culminating in the surge past $10,000 just minutes ago. Chart from TradingView.com This latest move may not be that notable in percentage terms but analysts say it’s important from a technical standpoint. One trader, in fact, commented that once Bitcoin decisively clears…

‘Fastest Horse’ Bitcoin Blasts Toward $10,000 as Paul Tudor Jones Backs BTC

Bitcoin’s price peaked at $9,972.03, its highest in two-and-a-half months. Billionaire hedge fund manager Pual Tudor Jones says he bought BTC futures to hedge against inflation. Bitcoin’s quadrennial halving event is likely to fall on May 12. The price of bitcoin edged closer to the psychological $10,000 level on Thursday, as investors geared up for the quadrennial halving in roughly five days. Meanwhile, one of the world’s most famous investors just threw his weight behind BTC as a hedge against inflation. Bitcoin Approaches $10,000 Bitcoin’s value peaked at $9,972.03 on…

Zcash Researchers Discover Criminals Are Laughably Unskilled at Using Crypto

A study by Rand Corporation unveiled that people using Zcash for illicit or criminal purposes in the dark web may not fully understand the underlying technology. According to the 65-page report published on May 7, the US-based think tank and government contractor highlighted that criminals have doubts regarding the anonymity offered by Zcash. The research highlights that the governance of Zcash and its branding as compliant with AML/CFT regulations may make it less susceptible to exploitation for illicit or criminal purposes. However, there is one aspect that the study reveals…

Telegram Founder Bashes US as a ‘Police State’ Amid Free TON Launch

In a May 7 post, Telegram founder, Pavel Durov, calls the U.S. a “police state” and discourages entrepreneurs from moving their businesses to Silicon Valley. Perhaps exhausted by the legal battles around Telegram’s beleaguered token offering, Durov, berates the U.S. in his latest post “7 Reasons Not To Move To The [Silicon] Valley”. In the post, he criticizes it both as a place to do business and a place to live. The post was only announced in Durov’s Russian language Telegram channel and is published in Russian. Telegram was pressured…

Bitcoin May Blow Past $100K By 2021, Morgan Creek CEO Says

CEO of capital management giant Morgan Creek, Mark Yusko, said he sees Bitcoin’s (BTC) price shooting up by more than 1,000% as early as next year. If Bitcoin’s market cap achieves the same value as that of gold, Bitcoin could logically see  its price push past $100,000 at some point between 2021 and 2022, Yusko said in a May 6 interview with the Altcoin Buzz YouTube channel.  Yusko added: “I actually believe that this transition will be the biggest wealth creation opportunity I’ll probably see in my lifetime.” The giant…

Bitcoin Still Needs 104 Years To Catch Up With NYC Subway

Despite zero downtime since its inception, Bitcoin (BTC), still has some catching up to do with New York City’s subway system. May 6 2020 was the first time in its 115-year history that New York City purposely shut off its main transportation artery. The downtime will allow workers to deep clean all transit cars in an effort prevent further spread of COVID-19. Subway Map Of Bitcoin Forks. Source: Bitcoin Magazine Meanwhile, Bitcoin has been clogging along without any interruptions since its genesis block. Mined on January 3 2009, the genesis block…

Elon Musk and Joe Rogan Discuss Problems With Traditional Currencies

In a recent interview with podcaster Joe Rogan, Elon Musk bashed inflation — a problem that Bitcoin fixes. Some of the current U.S. population sees the economy as an ever-flowing gift basket that will continuing providing essentials even while the country is shut down from its regular work flow, Musk told Rogan on May 7.  “This notion though, that you can just sort of send checks out to everybody and things will be fine, is not true,” Musk said referring to stimulus money the U.S. government sent to citizens. The…

Billionaire Paul Tudor Jones Buys Bitcoin to Hedge Against Inflation

Amid the ongoing coronavirus pandemic, inflation is collapsing all over the world. In order to hedge against the inflation risks, some billionaire investors are buying Bitcoin (BTC). Paul Tudor Jones, the billionaire founder of hedge fund, Tudor Investment Corporation, reportedly revealed that Bitcoin is part of his portfolio. “If I am forced to forecast, my bet is it will be Bitcoin.” According to a May 7 report by Bloomberg, Jones is buying Bitcoin to protect his investments from the inflation coming from the money-printing by central banks. In a market…

Global Economic Crisis Spurs Crypto-Comeback, CEO Says

Although coronavirus conditions have created global economic difficulties, cryptocurrencies could see growth amid the struggle, according to one blockchain incubator’s head. “Short-term: digital currencies suddenly look appealing,” Polyient Labs CEO Brad Robertson told Cointelegraph in a May 1 email. “If someone only looked back at the last two weeks, they might think ‘cryptocurrencies are back, baby,’” he added. Bitcoin has rebounded faster than mainstream markets Bitcon crashed in tandem with mainstream markets on March 12 amid rising coronavirus fears. Both sectors have since recovered, although Bitcoin sprung back to life more…