In brief
So what about Bitcoin?
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$108,929.00
0.54%$2,652.22
3.39%$2.38
4.12%$662.79
0.71%$154.08
2.55%$0.999808
-0.00%$0.287614
0.41%$0.172898
2.14%$2,649.75
3.33%$0.609551
4.87%$108,868.00
0.55%$39.00
3.23%$3,200.98
3.42%$2.96
2.58%$506.76
0.62%$13.99
3.77%$0.294456
16.04%$9.05
-0.25%$18.53
2.95%$0.999674
-0.01%$0.169253
5.43%$2,840.13
3.33%$0.00001204
1.95%$2.82
2.13%$2,651.24
3.28%$88.35
2.25%$45.91
2.36%$0.999837
0.00%$319.56
1.68%$109,091.00
0.69%$3.52
4.33%$1.001
0.01%$4.34
1.28%$8.15
7.79%$297.84
4.23%$0.00001024
2.67%$0.465114
1.88%$1.18
0.05%$325.34
2.22%$0.095462
2.50%$4.53
3.53%$48.27
0.62%$1.00
0.00%$2.26
4.77%$187.10
2.53%$4.93
3.86%$17.14
3.19%$0.81522
3.35%$1.058
0.01%$1.00
0.03%$0.078879
4.30%$0.59207
4.32%$4.20
3.37%$4.45
-0.01%$15.89
2.77%$0.02165339
5.95%$0.2001
6.85%$0.674819
1.39%$8.75
2.76%$0.269253
5.86%$0.079961
1.74%$3.24
3.27%$0.338427
1.80%$0.188278
7.14%$109,070.00
0.85%$2,650.13
3.28%$2.35
3.61%$108.79
1.50%$4.55
1.24%$0.00002004
-9.22%$0.871175
1.51%$0.267141
6.28%$0.999705
-0.01%$0.999093
0.06%$163.01
2.32%$11.08
0.24%$1.00
0.14%$0.443075
3.81%$1.41
8.31%$2,778.88
3.29%$3,021.11
3.29%$1.22
0.38%$1.61
1.35%$0.01591074
-0.52%$1.00
0.01%$13.24
-11.53%$0.064682
-0.50%$1.04
-0.60%$10.51
1.53%$0.659499
2.64%$2,842.16
3.71%$0.999962
0.09%$2,785.02
3.33%$108,827.00
0.69%$0.304701
1.82%$0.556232
3.91%$1.46
1.14%$1.11
-0.02%$3,313.58
0.20%$0.01449647
-4.99%$108,717.00
0.44%$0.999884
0.01%$2,794.05
3.56%$662.69
0.68%$0.148986
0.18%$0.00008941
1.83%$3.01
-1.82%$0.087081
4.77%$0.857158
2.24%$110,042.00
-0.31%$3,306.48
0.20%$172.84
2.46%$0.508326
2.25%$0.426723
3.16%$2.30
1.89%$2,864.04
3.29%$201.25
2.42%$0.546796
7.67%$0.713557
4.46%$111.72
0.01%$10.74
0.01%$0.998125
-0.01%$0.01475589
5.04%$0.742741
4.94%$2.44
11.60%$0.16675
6.32%$1.87
1.42%$19.30
3.91%$1.092
0.09%$0.258412
6.00%$39.09
-4.13%$0.00000062
1.88%$0.230729
1.79%$0.01250868
3.60%$0.709746
3.58%$3.62
8.02%$2,645.28
3.13%$0.997874
-0.01%$0.10187
6.50%$38.92
2.95%$2,839.69
3.51%$108,690.00
0.83%$0.00859295
-0.00%$0.546985
3.77%$109,146.00
0.77%$0.411385
3.71%$2,651.10
3.34%$2,788.28
2.29%$0.995002
0.15%$0.509212
2.15%$0.34267
5.27%$0.274615
4.35%$109,011.00
0.58%$0.499159
2.29%$0.999977
0.04%$24.91
0.90%$0.997954
-0.04%$2,651.65
3.29%$0.613692
2.93%$1.36
2.94%$0.01384726
0.59%$1.46
7.83%$0.999808
-0.00%$0.222994
-1.32%$7.80
0.97%$38.91
2.97%$0.172845
2.31%$1.00
-0.02%$0.04447835
4.97%$0.061309
0.83%$0.00000112
7.19%$0.00000044
0.14%$0.00432486
0.57%$0.398696
0.61%$2.32
3.00%$0.00727391
5.26%$0.116347
4.86%$2,820.48
3.38%$1.093
0.00%$0.544363
4.35%$0.256471
23.38%$0.991416
1.09%$42.82
6.22%$5.67
4.41%$13.81
3.73%$1.004
0.31%$0.075915
3.55%$0.144993
-1.78%$0.00001892
2.76%$2,647.49
3.34%$0.31155
3.50%$1.00
-0.02%$0.146633
3.82%$108,749.00
0.93%$0.509103
2.39%$2.20
3.41%$1.16
3.96%$2,921.00
3.19%$0.966093
4.95%$0.359214
2.65%$0.03659112
4.57%$0.00385472
2.97%$2,898.00
3.29%$1.45
0.77%$5.36
6.35%$0.03461274
0.65%$2,650.18
3.29%$20.57
1.03%$1.14
-0.21%$0.04649456
3.78%$0.01729129
0.39%$108,857.00
0.59%$0.0062554
4.63%$0.326892
4.54%$0.999794
0.01%$0.490219
3.51%$2,650.35
3.41%$168.30
2.62%$0.00005819
3.62%$0.999349
0.02%$1.001
0.22%$0.999843
0.02%$10.42
1.13%$0.681036
3.95%$0.308002
-2.89%$0.065866
3.51%$0.757314
12.19%$114.56
1.96%$1.10
4.57%$3,210.35
3.34%$0.710192
1.53%$0.00338021
38.18%$0.999174
-0.08%$0.200404
6.99%$0.296154
5.65%$0.00340854
1.43%$0.205388
3.05%$18.55
3.01%$1.019
-0.06%$1.21
0.00%$106,468.00
-0.94%$0.00000135
-0.12%$108,950.00
0.73%$0.601593
1.92%$14.65
14.91%$2,186.19
0.48%$1.67
0.52%$15.96
1.50%Reading
The price of gold is soaring as investors flock to the safe-haven asset. Bitcoin, on the other hand, refuses to budge.
Digital gold, AKA Bitcoin, has struggled to push past the $10,000 mark since its incredible recovery following Black Thursday, when Bitcoin’s price was cut by around 40% in a couple of days.
Gold, however, is having a ball—hitting a nine-year high of $1,817 per ounce on Wednesday.
BullionVault, a London-based online platform for trading physical gold, said that net demand for gold is breaking records. BullionVault holds over 40 tonnes of gold—worth over $2.5 billion.
Gold has typically been seen throughout history as a safe haven asset—performing well when other currencies or commodities are doing poorly. Investors flocked to the asset when COVID-19 wrought havoc on economies around the world.
Governments printing more money is another reason why investors are eying up bullion, the founder of Bridgewater Associates’s hedge fund, Ray Dalio, told Bloomberg this week.
This month, Galaxy Digital’s Mike Novogratz said in a CNBC interview that although Bitcoin has the potential to outplay gold, its volatility means that, at least for now, investors should hold onto the yellow metal.
That being said, a commodity analysis from Bloomberg last month said that along with gold, Bitcoin was also set to outperform other commodities in 2020.
This week, the price of Bitcoin increased, held firm, then survived a brief pump n’ dump largely intact. The current price of Bitcoin is $9,232, as of Sunday afternoon. Bitcoin started the week on an ebb, at $9,075, according to data from metrics site CoinMarketCap. From there, the only way was up. There was a quick spike at dawn on Monday when the price of the coin increased from $9,087 to $9,216 in around two hours. Onward, thereafter, to highs of $9,322 in the afternoon. After all of Monday's...
In the bigger picture, things have been going well for Bitcoin.
Despite its ups and downs this year, last month the asset’s price was up 32% YTD—meaning it had massively outperformed gold, which was up just 16% YTD.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Popular Solana token launchpad Pump.fun confirmed the launch of its PUMP token via an initial coin offering on July 12, with an airdrop to follow. However, United States and United Kingdom citizens will not be able to participate in the token sale. After completing KYC, or know-your-customer, verification, users will be able to participate in the token sale on July 12 at 2 p.m. UTC, via the Pump.fun site, Bybit, Kraken, Bitget, MEXC, KuCoin, and Gate.io. The sale will finish on July 15, or once...
BNY Mellon will safeguard funds backing Ripple Labs’ RLUSD, serving as the XRP-linked stablecoin’s primary custodian, according to a press release. The bank, which manages $43 trillion in assets, described RLUSD as distinct compared to most consumer-facing stablecoins. Ripple’s product, which debuted late last year, has been “purpose-built for enterprise utility,” with institutions’ needs in mind, BNY Melon said. With a market capitalization of $500 million, RLUSD is much smaller than Tether’s $...
X CEO Linda Yaccarino is stepping down from her post, one day after the platform’s artificial intelligence chatbot Grok took on an antisemitic persona and started calling itself “MechaHitler.” Yaccarino served two years in the role after being hired by owner Elon Musk. “When Elon Musk and I first spoke of his vision for X, I knew it would be the opportunity of a lifetime to carry out the extraordinary mission of this company,” Yaccarino posted on X. “I’m immensely grateful to him for entrusting...