Category: Cryptocurrency News

As Bitcoin continues to enjoy more mass adoption, many have regretted their decision not to get in earlier on the flagship cryptocurrency. Co-founder of private investment firm The Carlyle Group David Rubenstein joins this long list of individuals as he wishes he had bought BTC early on.  Bitcoin Is Here To Stay Speaking on Bloomberg Television on August 8, Rubenstein said he wished he had bought Bitcoin when one BTC was worth $100. The statement stems from the fact that the billionaire believes BTC is here to stay, following “enormous interest” in the cryptocurrency.   Related Reading: ARK Invest’s CEO Says SEC Could Approve Multiple Spot Bitcoin ETFs Simultaneously He explained that Bitcoin’s decentralization is key to this interest as people want a form of money that governments can’t control. According to him: There’s enormous interest around the world, and to be able to have something you can transfer without having the government knowing about it, and keep it private. You can say people shouldn’t do that, but that’s not going to stop people from doing it. BTC price rocks up to $29,873 | Source: BTCUSD on Tradingview.com BlackRock Is Key To All Of It Rubenstein also noted that people who once mocked BTC and other cryptocurrencies might begin to have second thoughts following BlackRock’s application for a Spot Bitcoin exchange-traded fund (ETF). “What’s happened is people made fun of bitcoin and other cryptocurrencies, but now the establishment, Larry Fink at BlackRock, is now saying they’re going to have an ETF if approved by the government in bitcoin,” Rubenstein told Bloomberg. “So you’re saying wait a second, the mighty BlackRock is willing to have an ETF in bitcoin, maybe bitcoin is going to be around for a while.” The billionaire investor’s sentiments echo that of Galaxy Digital CEO Mike Novogratz, who mentioned, during an interview on Bloomberg TV with David Rubenstein, that BlackRock’s CEO Larry Fink’s change of heart was the “most important thing that happened this year in Bitcoin.” “He [Larry Fink] got ‘orange-pilled. Larry was a nonbeliever. Now he says, ‘Hey, this is going to be a global currency.’ People around the world all trust it,” he said. Larry, who had once referred to BTC as “an index of money laundering,” said in a July 5 interview with Fox Business that Bitcoin could revolutionize the financial industry as it could be used as a hedge against inflation instead of traditional gold.  Related Reading: Can PayPal’s PYUSD Be Frozen In Your Wallet Like Tether’s USDT? There is no denying the influence that BlackRock and its CEO Larry Fink could have on BTC adoption, especially among institutional investors. BlackRock is currently the largest asset manager with over $9.1 trillion in assets under management (AuM).  With such a large clientele base, the market could see more individual investors, companies, governments, and foundations invest in Bitcoin through BlackRock (when their spot Bitcoin ETF gets approved by the SEC).  Meanwhile, Larry Fink is a prominent figure on Wall Street and one who boasts tremendous influence in the financial world, and he will likely carry this influence into crypto. Featured image from iStock, chart from Tradingview.com

In the latest Cointelegraph Report, we analyzed the privacy and ethical concerns around Worldcoin, currently among the most controversial cryptocurrency projects, and assessed its potential to disrupt the AI era.

An NFT trader who noticed a bot was copying his trades tricked the bot out of 800 ETH, worth around $1.5 million.

Bitcoin’s sharp recovery to $30,000 proves that bulls are buying BTC and altcoins at lower support levels.

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CipherTrace’s director of investigations and intelligence says data provided to the government by Chainalysis cannot be verified and should not be admissible in court.

Cardano (ADA) has not exactly been the best performer in the last month. Instead, the altcoin’s price has continued to stall even during periods of market recovery. However, this trend could change pretty soon given the current accumulation trend among sharks and whales, something that could take a significant chunk of available supply off the open market and trigger another rally. Cardano Sharks And Whales Go To Market In a Tuesday post, the on-chain data aggregator platform Santiment revealed an interesting development concerning the ADA sharks and whales. The sharks and whales in this instance refer to wallets holding at least 100,000 ADA and at most 10 million ADA. Related Reading: Crypto Analyst Says Bitcoin Could Reach $180,000 Next Cycle If This Happens What Santiment has found is that this 100,000-10 million cohort has been consistently adding to their balances. The accumulation first began a little over two months ago on May 21, and since then, they have collectively bought over $116.1 million worth of ADA. Sharks and whales accumulate $116.1 million worth of ADA | Source: Santiment on X This buying spree also saw their trading volume rise significantly during this time as well. As the on-chain tracker revealed, the sharks and whales saw their cumulative volume cross 67 billion ADA toward the end of July. As a result of their consistent buying, sharks and whales now account for 34.4% of the total circulating ADA supply. The last time that their holdings were this high was back in 2022, before the FTX collapse. Additionally, their cumulative trading volume is now sitting at its highest level since September 2021. Will ADA Respond Positively? In the last two months in which the Cardano sharks and whales have been active, ADA has seen some encouraging price action. In July, its price jumped from below $0.3 to a local high of $0.37. But ultimately, the altcoin corrected back downward, losing a little over 20% of its value. Since then, the digital asset has continuously struggled to maintain $0.29, with bears having more good days compared to bulls. However, there could be a change in the horizon given that investor sentiment seems to have skewed in favor of buying instead of selling. Related Reading: Litecoin Hashrate Taps New All-Time High, Will LTC Price Follow Suit? What this means is that the mounting buying pressure could quickly see the price of ADA recover as demand grows. So it may not be long before ADA is retesting the $0.35 resistance again. And if this rally happens to coincide with a recovery in the price of Bitcoin (BTC), then it could beat its recent local peak of $0.37 and rally above $0.4. For this to happen, though, the bulls would have to maintain control and the 6% jump in the altcoin’s daily trading volume in the last day could be evidence of this. At the time of writing, ADA is trailing at $0.2991, up 2.93% on the daily chart. However, the asset is seeing 2.33% losses on the weekly chart. Cardano bulls continue to struggle to raise price | Source ADAUSD on Tradingview.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com

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