Latest news with #BITCOIN
Yahoo
07-05-2025
- Business
- Yahoo
Shark Tank's Kevin O'Leary has a shocking response to MicroStrategy
Shark Tank judge "Mr. Wonderful" Kevin O'Leary criticized MicroStrategy, now Strategy, founder and executive chairman Michael Saylor for the firm's aggressive Bitcoin acquisition. O'Leary criticized Saylor's Bitcoin advocacy as self-serving and said, "Michael Saylor is talking about his book." "Mr. Wonderful" was talking to SkyBridge Capital founder Anthony Scaramucci when he made the remarks. O'Leary said that MicroStrategy leverages stock, preferred shares, and debt to acquire Bitcoin, and its shares trade at twice the value of the firm's underlying Bitcoin holdings. Such a business model doesn't offer long-term viability, he added. As reported earlier, Strategy purchased 1,895 BTC last week, and it now holds 555,450 BTC worth $52.5 billion. The firm is the world's largest corporate Bitcoin holder. Meanwhile, the Shark Tank star also dismissed the possibility of the creation of the U.S. strategic Bitcoin reserve. 'Strategic Bitcoin reserve will never happen," he said and underlined the lack of bipartisan support in the Congress and the alleged self-serving advocacy from entrepreneurs like Saylor. Notably, Senator Cynthia Lummis (R-WY) reintroduced the BITCOIN bill on March 11. The bill proposes that the government acquire 1 million BTC to strengthen the dollar and reduce national debt. If passed, it would pave the way forward for President Donald Trump's executive order to establish the Bitcoin reserve. Scaramucci, on the other hand, said the bill could potentially boost the U.S. economy. He agreed that bipartisan support for the bill is critical and should be sought within the next six months. Otherwise, a change in government could lead to a reversal of the bill if it is passed with unilateral Republican support. As per Kraken's price feed, Bitcoin was trading at $94,640.43 at press time.
Yahoo
24-04-2025
- Business
- Yahoo
'Strongly Believe Bitcoin Will Reach $180K To $200K in 2025', Robert Kiyosaki Says
'Rich Dad Poor Dad' author Robert Kiyosaki has offered a significantly bullish outlook for Bitcoin in 2025 despite recent market struggles. Kiyosaki recently suggested that Bitcoin will surpass seven figures in the next decade. Bitcoin has shown signs of strength this week. Bitcoin, the largest cryptocurrency by market capitalization, has not had the start that many anticipated in 2025. Instead of continuing its blistering run from Q4 2024, the asset has fallen as much as 32% from its January record, near $110,000 to trade at $74,500 at one point in April amid broader market uncertainty. But this has not stopped several prominent market observers from holding on to ambitious year-end price targets for the asset. Joining these ranks is 'Rich Dad Poor Dad' author Robert Kiyosaki. Don't Miss: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Here's what Americans think you need to be considered wealthy. Kiyosaki has offered a significantly bullish outlook for Bitcoin in 2025 despite recent market struggles. In a Sunday X post, the entrepreneur asserted that he believed that the asset could more than double in price before year-end. 'BITCOIN is $84k today. Strongly believe Bitcoin will reach $180k to $200k in 2025,' he wrote. Kiyosaki's recent 2025 Bitcoin price prediction comes days after he argued that the asset would surpass the $1 million price mark by 2035. The entrepreneur's bullishness on the leading cryptocurrency is based on a grim outlook on the U.S. economy he has held over the past 25 years. Specifically, he believes that the U.S. is headed for a historic market crash, which he has termed 'a greater depression,' citing rising debt and unemployment while pension funds lose money. Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. As such, Kiyosaki continues to advocate for a rush to safe-haven assets, placing Bitcoin firmly in this category. 'If a poor person bought a few ounces of gold or silver, or 1/2 of a Bitcoin.... I predict they may become the new this Depression is over,' he wrote on Friday. Interestingly, since Kiyosaki shared his Bitcoin outlook for 2025, the asset has shown signs of strength, stoking hopes of resurgence. The asset has jumped nearly 4% from around $84,000 to trade above $87,000 at the time of writing, defying resistance at $85,000 and $86,000. Amid the rally, one analyst has contended that Bitcoin could be setting up for its next leg up. In an X post on Monday, CryptoQuant analyst Axel Adler Jr. opined that the asset was in 'a classic accumulation phase,' citing its realized Bitcoin realized price reflects the average value of all coins when they were purchased. According to Adler, this realized price is rising in a sign of growing capital inflows. 'This is a classic accumulation phase: the imbalance favoring fundamentals creates potential for the next bullish expansion when investor sentiment shifts back to aggressively optimistic,' he wrote. To be sure, crypto analytics platform Santiment Feed has recently revealed that large Bitcoin wallets with holdings between 10 BTC worth over $870,000 and 10,000 BTC worth over $870 million have cumulatively added 53,600 BTC worth over $4.7 billion to their holdings in the past month. Despite these positives, Bitcoin may not be 'out of the woods just yet,' as highly followed market analyst 'PostyXBT' has warned against excitement until the asset reclaims the $90,000 price level. Read Next:Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'Strongly Believe Bitcoin Will Reach $180K To $200K in 2025', Robert Kiyosaki Says originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
The Sun
24-04-2025
- Business
- The Sun
I turned £500 into £10k with Bitcoin but I almost lost EVERYTHING – 4 lessons saved me
Lana Clements, Assistant Consumer Editor Published: Invalid Date, BITCOIN has smashed astonishing record highs this year making some bold investors very wealthy - but it doesn't come without risks. Take dad Ally Spicer, 42, for example - who has turned an original sum of £500 into £10,000 through investing in the cryptocurrency but he nearly lost it all. Twice. 6 6 6 His success comes as Bitcoin has seen its value increase five-fold since the end of 2020 to hit £77,124 ($100,000) at the start of this year. The cryptocurrency is a relatively new type of investment which was only created in 2008, and some seasoned investors are doubtful it's anything more than a flash in the pan. Still, it shows no sign of disappearing from the scene anytime soon with more than 1 in 10 adults now trading Bitcoin in the UK. The Financial Conduct Authority found that a growing number of adults in the UK hold cryptocurrency, up from 4% in 2020 to 12% in 2024. 6 For Ally, his investments are now worth more than £10,000 from an initial investment of £500. He first bought into the investment phenomenon back in 2017. But while he's made a tidy profit, it's not been smooth sailing for the dad of two, who works in digital marketing. Here Ally reveals the valuable lessons he has learned from investing in the cryptocurrency over the past eight years... Prepare for the crash A friend first told Ally about Bitcoin eight years ago, citing it as a way to potentially make some extra cash. At that point the currency was worth around £3,000 ($4,000) per Bitcoin. Since then, the value of the cryptocurrency has undergone a series of dramatic highs and crashes. For example, if you bought at the £77,124 ($100,000 peak) earlier this year, you'd have already lost around 10% as Bitcoin has plunged back down to around £69,400 ($92,483). I thought I was a financial genius but I didn't sell and it crashed to less than what I bought it for. At that point, I thought I'd missed my opportunity and forgot about it Ally Spicer Ally says that investing has been a white knuckle rollercoaster ride for investors. He told The Sun: "Back in 2017 I was aware of the technology and I was interested in the chance to make money, so I decided to invest around £500." Later that year the cryptocurrency shot up to nearly £15,300 ($20,000). Ally said: "I thought I was a financial genius but I didn't sell and by the end of 2018 it crashed to less than what I bought it for. "At that point, I thought I'd missed my opportunity and forgot about it." Ally didn't think much about the investment for a couple of years. Then in 2021, he started seeing headlines about new record highs for the cryptocurrency and was ecstatic when he realised that the price had shot back up again to around £52,600 ($69,000). However, it was not long before it crashed back down again in 2022 to £13,000 ($16,000), and he decided to cash in around half his investment. In 2023, he started reinvesting what he had sold and added a further £500 but has been selling again this year. He now plans to use the cash to buy treats for his family, such as holidays. So far he has sold £1,000 worth of his investments off and used it for a trip away at half term to Disneyland Paris. 'It's highly volatile' It's important to understand where you're putting your money with any kind of investment - and Bitcoin is no different. You'll need to read up on the risks, as well as potential rewards on offer. Ally said: "I've spent a lot of time reading books and listening to podcasts on crypto. "It is risky. It's not an easy way to make money, you need to do your own research, as it's highly volatile." If you don't understand how an investment works, it's never a good idea to part with your cash because you could be caught out later down the line. Speak to a trusted independent financial adviser if you don't know where to start. You can ask friends of family if there is someone the would recommend or look on a site such as As well as having sound knowledge of Bitcoin, you should also understand your own appetite for risk as this can help you understand whether investing is a good idea for you. Only invest money you won't miss As with any investment, there are no guarantees, and anyone who invests in Bitcoin could find the value falls and they lose money. The cryptocurrency is particularly volatile which means there are very sharp changes in value. Ally said: "If the value of Bitcoin crashed to zero tomorrow, I'd be annoyed but it wouldn't be the end of the world. "I've only put in what I can afford to lose." If you feel ready to start investing, start out with small amounts that you could cope without if they were to disappear for ever. 6 Prioritise your wider finances Ally was in a good financial position to invest in Bitcoin as it was disposable cash he was using to buy the investment. He already owned a home with his wife and had enough in cash savings too. Ally added: "If I was saving for something important or needed every spare penny, I wouldn't have put it in Bitcoin." Any kind of investing should only be done when you have a pot of 'rainy day' cash savings in place that you can call upon in an emergency. As a general rule of thumb, you should have between three to six months worth of income in easily accessible savings. It's also a good idea to make sure any debts are paid off before investing cash so that you are not losing cash on costly interest charges. If you haven't invested cash previously, you may want to start out on more traditional investments through a stocks and shares ISA. Although they can fall in value, there is a greater track record of them rising in the long term. Laith Khalaf, head of investment analysis at AJ Bell, said: 'The Bank of International Settlements estimates that around three quarters of Bitcoin buyers between 2015-2022 were likely to have lost money, despite a huge rise in the price of the cryptocurrency. "This is almost certainly because they got sucked in at precisely the wrong time. 'FOMO' (fear of missing out) is not an investor's friend. 'Bitcoin doesn't have any earnings and doesn't pay an income, so price action is largely driven by sentiment. "If you buy some, you're relying on someone paying more than you further down the line to turn a profit." Watch out for scams Fraud and scams are also a major problem for the crypto industry. Ally explains that he's had fraudsters try to contact him over social media pretending they had opportunities for investing. In some cases, scam artists can convincingly pose as genuine crypto influencers or investors. You must also make sure that you protect your crypto wallet. Ally said he always uses two-step authentication which adds another layer of security to his investments. A recent 'mega theft' of $1.19 billion crypto assets from a wallet held on the Dubai-based Bybit exchange is illustrative of how vulnerable your cash can be. There is also less regulation in the industry which means if something goes wrong you are unlikely to get any of your money back. The Financial Conduct Authority is starting to introduce more regulation in this area and is responsible for regulating cryptoasset promotions. In the year since 2023, the regulator said it had taken down over 900 scam crypto websites and over 50 apps, which gives you a flavour of how rife scams are in the market. Protect yourself from crypto scams Crypto investment scams are on the rise with reports more than doubling since 2020, according to the FCA. Fraudsters often advertise on social media and may use images of celebrities to promote scams. Or scammers may contact your directly through private messages pretending to be a reputable company. You could also come across scams by searching online through the likes of Google. Scam adverts typically link to professional-looking websites, where fraudsters may manipulate software to fake prices and investment returns. Once you've handed over money, scammers may act quickly, closing your account and taking your money. Or they may continue the pretence, to encourage others to invest and you might not realise it's a scam until you try to sell. Scammers are more likely to contact you out of the blue or pressure you to invest quickly. Firms offering crypto products in the UK must be registered with the FCA or have permission to promote them. The FS Register will show you which firms are registered, you can check it at What is Bitcoin? Bitcoin is a type of cryptocurrency that was created in 2009 by an unknown person or group of people. There is a finite supply, which has helped it to hold its value among investors - in a similar way to gold. Bitcoin now ranks within the top ten most valuable assets based on its market value (capitalisation) - above company giants such as Facebook and Netflix. Cryptocurrencies differ from physical currencies, such as the pound. They are created using blockchain technology and part of their appeal is that they are not controlled by governments or a central bank, such as the Bank of England. It means the currency can be used to transfer wealth outside of the traditional banking system, making it easier to cross borders or stay anonymous when moving wealth. Bitcoin is the leading cryptocurrency but its rise has helped other cryptocurrencies also grow in value, such as Ethereum. In recent years, more mainstream companies and institutions have invested in cryptocurrency, and part of the recent rise in value is based on President Trump 's favourable views on cryptocurrency. 6 What will happen to the price of Bitcoin? People who have made money from Bitcoin have quite simply sold the currency when the price is higher than what they paid for it. However, it is impossible to predict exactly when the price will rise and fall. Wider world events can impact the price of Bitcoin, as well as market changes such as different regulations. The most recent price increase and subsequent fall has followed the incoming administration of US president Donald Trump. Susannah Streeter, head of money and markets, at investment platform Hargreaves Lansdown, said: "Crypto mirrors broader investor sentiment which has taken a hit due to Trump's renewed vows to impose tariffs on trading partners. "The absence of more regulatory support from the new administration has also been greeted by disappointment. "While sharp falls in digital coins and tokens aren't unusual, the losses this year have been painful, and it's a reminder of the 'wild west' nature of the crypto industry." In the past, the price of Bitcoin has been pushed up by steps towards greater regulation in the market and signs that crytocurrencies are becoming integrated into the mainstream. Laith Khalaf from AJ Bell said: "The ultimate outcomes are pretty binary for Bitcoin. Either it becomes an accepted part of the financial furniture and a valuable asset, or it ends up on the rubbish heap. "The price volatility partly reflects the ongoing battle between these two possible and polarised visions of crypto's future. It's impossible to predict with a great degree of confidence which will prevail.' How do you invest in Bitcoin? If you feel ready to take the risk there are different ways to own Bitcoin. You can't invest directly into Bitcoin funds through stocks and shares ISAs, as you do with other traditional investments, due to regulations in the UK. Jason Hollands, managing director at platform Bestinvest, said: 'It is not currently possible to invest in Bitcoin or other crypto assets directly through tax-efficient accounts like ISAs or pensions. "The UK regulatory authorities have taken a cautious approach to crypto due to its highly volatile and speculative nature." Instead, specialist trading platforms such as Coin Bureau or PlanB allow you to hold Bitcoin, other accounts do not allow spending but give you ownership of the currency as a financial asset. Jason added: "Potential customers should do their research as to whether and how the provider is regulated and whether their holdings will be ringfenced in the event the firm should go under.' You can also get some exposure to Bitcoin without investing in the currency directly and instead focusing on companies in this market. Ed Monk, associate director at investment firm Fidelity International, said: 'For those who really want to ride the crypto wave without buying the currency itself there are options. "You could consider proxies for Bitcoin, such as companies that invest in it or companies that enable trading in cryptos. 'One of the more popular proxy options for UK investors has been to buy shares in MicroStrategy, a US software and data company that has a declared strategy of buying Bitcoin. "It is a ratcheted play on the biggest cryptocurrency - a riskier way to back a risky asset. Others have chosen Coinbase of the US, a platform for buying and selling cryptocurrencies." There are also tax implications of investing in Bitcoin and other crypto currencies which you should be aware of. You could have to pay Capital Gains Tax when you cash in profits worth more than £3,000 related to investing. With traditional funds and investments, you can avoid this tax by holding them in a Self Invested Pension Plan (Sipp) or stocks and shares ISA. Ed added: "It's a safe bet that HMRC will be more focused on crypto as a growing source of tax revenue this year and in the years ahead."
Yahoo
23-04-2025
- Business
- Yahoo
Bitcoin rises close to $94,000 as the crypto rally continues
Bitcoin continued it torrid trading streak, flirting with $94,000 on Wednesday morning, despite a robust stock market rally. Some investors have been pulling money out of stocks and stashing them in gold and crypto, which have sent the values of both soaring. Analysts remain bullish on Bitcoin and how high it could go. Robert Kiyosaki, investor and Bitcoin expert, tweeted on April 20, 'BITCOIN is $84k today. Strongly believe Bitcoin will reach $180k to $200k in 2025.' Kiyosaki is not alone in his thinking. 'There is high short-term uncertainty, but we see solid foundations for a further rally in Bitcoin's price over the coming months — $90,000 was just the first domino; in our view, Bitcoin is likely to move well beyond previous highs later this year,' Zach Pandl, head of research at Grayscale (GBTC), told DL News, a crypto trade publication. Meanwhile, Titan of Crypto's X account predicts a $137,000 bitcoin price by August if the current optimistim holds. This bullishness comes against the backdrop of pro-crypto Paul Atkins being sworn in as the new head of the SEC on Monday. Atkins is seen as being pro-crypto. 'If the SEC were more accommodating and would, you know, deal straightforwardly with these various [crypto] firms, I think it would be a lot better to have things happen here in the United States rather than outside,' Atkins said on the Keep Your Government Hands off my Crypto podcast in February of last year. For the latest news, Facebook, Twitter and Instagram. Sign in to access your portfolio
Yahoo
22-03-2025
- Business
- Yahoo
U.S. may sell Fort Knox gold for Bitcoin — If it's 'budget-neutral,' says Trump adviser
Robert 'Bo' Hines, executive director of the President's Council of Advisers on Digital Assets, said that if the move to sell some of the gold in Fort Knox to buy Bitcoin remained budget-neutral, it could be considered. Hines made the remark while speaking to journalists Eleanor Terrett and Jacquelyn Melinek in an interview on March 21. Note that President Trump signed an Executive Order on March 6 to establish a Strategic Bitcoin Reserve consisting of BTC forfeited by federal agencies. The order also mentioned that the government will acquire any Bitcoin in the future through 'budget-neutral' ways. During the interview, Terrett asked Hines if he could give an example of a budget-neutral way to buy Bitcoin. In response, Hines referred to Senator Cynthia Lummis's (R-WY) BITCOIN bill. Senator Lummis' bill, once legislated, will codify Trump's executive order. The bill, said Hines, details how the government could re-evaluate the true value of certain gold certificates. If the government recognized its gains after the re-evaluation, it could use the additional funds to acquire more Bitcoin. 'That would be a budget-neutral way to acquire more Bitcoin,' Hines said. Terrett further asked if the government could "theoretically" sell some of the gold in Fort Knox to purchase Bitcoin. "Well, if it's budget neutral and doesn't cost the taxpayer a dime," Hines said. The Trump administration is open to "new ideas" and "innovative approaches" to crypto, he added. Melinek questioned Hines about the government's choice of the five assets, i.e., Bitcoin, Ethereum, XRP, Solana, and Cardano, for the holdings. Hines said that the government chose these particular assets on the basis of their market capitalization. As per the on-chain analytics platform Arkham, the US government holds 198,109 BTC worth $16.6 billion and 60,850 ETH worth $119 million as of March 21. Sign in to access your portfolio
