Latest news with #CoinShares
Globe and Mail
25-05-2025
- Business
- Globe and Mail
Bitcoin Tops $111,000. Why President Trump's Bill Is Moving Crypto.
Bitcoin (CRYPTO: BTC) set a new all-time high today, topping $111,000 for the first time ever. After reaching a previous all-time high in December 2024, Bitcoin declined roughly 30%, leading many to believe the bull run that saw it nearly double from September through December was over. However, in the last month, Bitcoin is up nearly 50%. As is common, many altcoins have followed suit, with Ethereum (CRYPTO: ETH) up more than 68% in a month and Dogecoin (CRYPTO: DOGE) up nearly 50% since April. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » This growth has been largely fueled by easing trade tensions with China, and more recently, a downgrade of U.S. debt and the advancement of the crypto-friendly GENIUS Act. Today's move is directly related to the U.S. House of Representatives vote to advance President Trump's tax bill and "driven by a mix of positive momentum, growing optimism around U.S. crypto regulation, and continued interest from institutional buyers," as James Butterfill, head of research for crypto-focused asset manager CoinShares, told CNBC. GENIUS Act passes the Senate The Senate advanced the GENIUS Act on a bipartisan 66-32 vote Monday. The bill would establish the first regulatory framework for stablecoins -- crypto tokens pegged to fiat currencies like the U.S. dollar, which could greatly advance their adoption in mainstream finance. The move was big news across crypto markets, but Ethereum saw a particular boost, as many of the most prominent stablecoins operate on its blockchain. The fact that the bill passed with bipartisan support -- 16 Democrats joined the majority of Republicans -- was taken as an especially positive sign that more crypto-friendly bills could be coming. Institutional buy-in is growing Jamie Dimon, CEO of JPMorgan Chase and a longtime crypto skeptic, announced earlier this week that the asset management firm will allow clients to purchase Bitcoin. While the company won't hold it itself, it marks a major milestone, given JPMorgan's influence and Dimon's years of opposition to Bitcoin. This comes as Bitcoin ETFs have seen consistent inflows and steady growth. So far in May, only two days have seen more money flow out of them than in. Often using these ETFs, public companies have greatly expanded their Bitcoin ownership this year: Ownership of the cryptocurrency by public companies is up 31% this year alone. Economic fears are driving investment Today's move in particular appears driven by the advancement of Trump's "Big Beautiful Bill." The House voted to advance the massive bill that would see a significant increase in the federal government's revenue shortfall. While there are spending cuts, the massive tax cuts will amount to a $3.8 trillion addition to the national debt, according to the non-partisan Congressional Budget Office (CBO). This has spooked Wall Street and sent bond yields higher, with the 30-year Treasury yield at its highest level since October 2023. Bond yields rise as faith in the health of the economy falls. Bitcoin has long been held by its proponents to be a "safe haven," an alternative to the U.S. dollar and more traditional assets that are tied to the health of the economy. This hasn't always borne out. However, that is exactly what appears to be happening today. Investors are moving money from traditional assets into Bitcoin as a hedge, believing that if the broader economy worsens, Bitcoin will not move down with it. I think both Bitcoin and Ethereum are solid investments that can help diversify your portfolio and make it more resilient during downturns. However, they are still relatively speculative and carry a decent amount of risk. Dogecoin is a meme coin, and I would caution investors to stay away from it. Should you invest $1,000 in Bitcoin right now? Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $644,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $807,814!* Now, it's worth noting Stock Advisor 's total average return is962% — a market-crushing outperformance compared to169%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of May 19, 2025
Yahoo
24-05-2025
- Business
- Yahoo
Bitcoin Tops $111,000. Why President Trump's Bill Is Moving Crypto.
Bitcoin tops $111,000 for the first time as Ethereum and Dogecoin rise as well. There have been several catalysts that have laid the groundwork for today's rise. Trump's tax bill is sparking economic anxieties, leading investors to look for alternative assets like crypto. 10 stocks we like better than Bitcoin › Bitcoin (CRYPTO: BTC) set a new all-time high today, topping $111,000 for the first time ever. After reaching a previous all-time high in December 2024, Bitcoin declined roughly 30%, leading many to believe the bull run that saw it nearly double from September through December was over. However, in the last month, Bitcoin is up nearly 50%. As is common, many altcoins have followed suit, with Ethereum (CRYPTO: ETH) up more than 68% in a month and Dogecoin (CRYPTO: DOGE) up nearly 50% since April. This growth has been largely fueled by easing trade tensions with China, and more recently, a downgrade of U.S. debt and the advancement of the crypto-friendly GENIUS Act. Today's move is directly related to the U.S. House of Representatives vote to advance President Trump's tax bill and "driven by a mix of positive momentum, growing optimism around U.S. crypto regulation, and continued interest from institutional buyers," as James Butterfill, head of research for crypto-focused asset manager CoinShares, told CNBC. The Senate advanced the GENIUS Act on a bipartisan 66-32 vote Monday. The bill would establish the first regulatory framework for stablecoins -- crypto tokens pegged to fiat currencies like the U.S. dollar, which could greatly advance their adoption in mainstream finance. The move was big news across crypto markets, but Ethereum saw a particular boost, as many of the most prominent stablecoins operate on its blockchain. The fact that the bill passed with bipartisan support -- 16 Democrats joined the majority of Republicans -- was taken as an especially positive sign that more crypto-friendly bills could be coming. Jamie Dimon, CEO of JPMorgan Chase and a longtime crypto skeptic, announced earlier this week that the asset management firm will allow clients to purchase Bitcoin. While the company won't hold it itself, it marks a major milestone, given JPMorgan's influence and Dimon's years of opposition to Bitcoin. This comes as Bitcoin ETFs have seen consistent inflows and steady growth. So far in May, only two days have seen more money flow out of them than in. Often using these ETFs, public companies have greatly expanded their Bitcoin ownership this year: Ownership of the cryptocurrency by public companies is up 31% this year alone. Today's move in particular appears driven by the advancement of Trump's "Big Beautiful Bill." The House voted to advance the massive bill that would see a significant increase in the federal government's revenue shortfall. While there are spending cuts, the massive tax cuts will amount to a $3.8 trillion addition to the national debt, according to the non-partisan Congressional Budget Office (CBO). This has spooked Wall Street and sent bond yields higher, with the 30-year Treasury yield at its highest level since October 2023. Bond yields rise as faith in the health of the economy falls. Bitcoin has long been held by its proponents to be a "safe haven," an alternative to the U.S. dollar and more traditional assets that are tied to the health of the economy. This hasn't always borne out. However, that is exactly what appears to be happening today. Investors are moving money from traditional assets into Bitcoin as a hedge, believing that if the broader economy worsens, Bitcoin will not move down with it. I think both Bitcoin and Ethereum are solid investments that can help diversify your portfolio and make it more resilient during downturns. However, they are still relatively speculative and carry a decent amount of risk. Dogecoin is a meme coin, and I would caution investors to stay away from it. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $644,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $807,814!* Now, it's worth noting Stock Advisor's total average return is 962% — a market-crushing outperformance compared to 169% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 JPMorgan Chase is an advertising partner of Motley Fool Money. Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and JPMorgan Chase. The Motley Fool has a disclosure policy. Bitcoin Tops $111,000. Why President Trump's Bill Is Moving Crypto. was originally published by The Motley Fool
West Australian
22-05-2025
- Business
- West Australian
Bitcoin hits new record high as rally marches on
Bitcoin continued its blistering rally on Thursday, hitting a brand new record high above $111,000 ($172,304). Bitcoin hit $US111,886.41 in early trading hours in London, according to Coin Metrics, before paring some of those gains to trade at around $US111,012. Bitcoin's move has been 'driven by a mix of positive momentum, growing optimism around US crypto regulation, and continued interest from institutional buyers,' James Butterfill, head of research for crypto-focused asset manager CoinShares, told CNBC. The price rise in world's largest cryptocurrency is taking place despite a drop in US stock markets on Wednesday. Bitcoin has typically correlated with equity markets, particularly the tech-heavy Nasdaq. The diverging movements of Bitcoin and stocks could be the result of investors looking for alternative stores of value. 'The rally was also helped along by broader macro concerns, including Moody's recent downgrade of US sovereign debt, which added to the narrative of Bitcoin as a hedge against fiat instability,' Butterfill noted. Ratings agency Moody's cut the United States' sovereign credit rating last week. There have been some positive developments for the crypto space on the regulatory front in the US too. The GENIUS Act — a bill to regulate stablecoins — cleared a key procedural vote in the Senate. US President Donald Trump and his AI and crypto czar David Sacks have pushed forward a pro-crypto agenda in the US, which has helped support the market. Adding to upbeat news for crypto, JPMorgan CEO Jamie Dimon, a notable bitcoin skeptic, said that the bank will allow clients to buy the digital currency.
Yahoo
22-05-2025
- Business
- Yahoo
CoinShares announces block transaction by shareholder
Thursday, 22 May 2025 | SAINT HELIER, Jersey - CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS; US OTCQX: CNSRF), a global investment firm specializing in digital assets, today announced that it has agreed to enter a block transaction with a shareholder to acquire 200,000 ordinary shares in the capital of the Company. Subject to completion of the block transaction, the Company will repurchase from the selling shareholder a total 200,000 ordinary shares at a price per share equal to SEK 98 resulting in total consideration of SEK 19,600,000. The Company expects the block transaction to settle via cash and to complete before 29 May 2025. CoinShares' decision to repurchase its shares is consistent with the Board's stated intent regarding the buyback program and for the purposes of reducing the capital of the Company. The total number of shares in the Company at the date of this press release is 66,678,210. Following completion of the block transaction, the Company will hold a total of 1,233,259 own shares. About CoinShares CoinShares is a leading global investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and in the US by the Securities and Exchange Commission, National Futures Association and Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF. For more information on CoinShares, please visit: Company | +44 (0)1534 513 100 | enquiries@ Relations | +44 (0)1534 513 100 | enquiries@ This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 17:30 BST on Thursday, 22 May 2025. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Express Tribune
22-05-2025
- Business
- Express Tribune
Bitcoin hits new all-time high of $111,000
Bitcoin surged to a new all-time high above $111,000 on Thursday, continuing its strong rally despite falling US stock markets. Early London trading saw the cryptocurrency peak at $111,886.41, according to Coin Metrics, before settling near $110,900. Experts attribute Bitcoin's rise to a combination of positive momentum, growing optimism over US crypto regulations, and renewed institutional interest. James Butterfill, head of research at crypto asset manager CoinShares, said the rally reflects investors seeking alternative stores of value amid macroeconomic uncertainty. The recent downgrade of the US sovereign credit rating by Moody's has further bolstered Bitcoin's appeal as a hedge against fiat currency instability. Meanwhile, the GENIUS Act, a US bill aimed at regulating stablecoins, has advanced through a key Senate procedural vote, signaling progress on the regulatory front. Support from influential figures also helped lift the market. US President Donald Trump and crypto advocate David Sacks have promoted a pro-crypto agenda, while JPMorgan CEO Jamie Dimon—long a Bitcoin skeptic—announced the bank will allow clients to purchase the digital currency. Bitcoin's divergence from the tech-heavy Nasdaq, which fell on Wednesday, suggests investors are increasingly viewing the cryptocurrency as a safe haven amid growing financial uncertainty.
