Bitcoin price

When Bitcoin plunged from around $30,000 to below $20,000 in little more than a week last year, Three Arrows Capital co-founder Su Zhu described the tailspin as the “nail in the coffin” for his hedge fund.Fast forward to today, and the largest cryptocurrency has just retraced that path from $20,000 back to $30,000 in the past month — but the industry is a shadow of what it was the last time the token crossed that milestone. That's because several more caskets were hammered shut in the domino-like wave of bankruptcies…

Bitcoin may be at a nine-month high, but El Salvador's total holdings are still worth 29% less than what the government paid for the world's largest digital currency.El Salvador purchased 2,546 Bitcoin at a cost basis of roughly $108 million, according to calculations by Bloomberg. At Tuesday's prices, those tokens are worth just $77 million. Bitcoin climbed above $30,000 on Tuesday for the first time since June 2022, bolstered by bets on easier monetary policies. However, the token remains more than 50% lower than an…

As members of the media lingered near the entrance of the headquarters of Silicon Valley Bank this week, a Bitcoin true believer seized on an opportunity.He drove a Budget moving van directly in front of the building's entrance, so all could see the message plastered on the side: “BE YOUR OWN BANK,” it read, between a doctored image of Federal Reserve Chair Jerome Powell holding a “Buy Bitcoin” sign and the orange logo for the original cryptocurrency. A video of the made-for-social-media stunt, set to Pink Floyd's…

Markets this year are roiling, uncertainty abounds and the U.S. government has had to step in to rescue two large American banks in recent days. So why is bitcoin, considered among the riskiest bets of them all, rising so fast?Just months ago, all forms of cryptocurrency appeared to be going up in flames, with bitcoin plunging from almost $50,000 at the start of 2022, to less than $17,000 when 2023 rolled around. Bitcoin has since soared more than 60% and it climbed another 8% Friday above $27,000, all in an era of mass…

Bitcoin is on course for one of its biggest weekly gains of recent years, bolstered by wagers on eventual cuts in interest rates as the token rides out convulsions in the banking sector.The largest digital asset is up about 25% since the start of Monday. It's had a weekly jump of at least that much only 10 times in the past five years, data compiled by Bloomberg show. Smaller coins like Ether and Dogecoin are also rallying. The collapse of three regional US lenders and wobbles at Credit Suisse Group AG are strengthening…

Bitcoin jumped the most of almost a month after US authorities sought to stem concern about the health of the nation's financial system. The largest cryptocurrency gained as much as 5.3% to $21,582, the biggest increase since Feb. 15, after US agencies pledged to fully protect all depositors' money following the collapse of Silicon Valley Bank while also giving any banks squeezed for cash easier terms on short-term loans. Signature Bank was closed by New York state financial regulators, while saying depositors will have…

The digital-asset market is coming off of a turbulent year featuring a number of high-profile blowups. Now, two shutdowns in the banking industry — SVB Financial Group's Silicon Valley Bank and Silvergate Capital Corp. — have set off a fresh set of stresses. SVB's failure triggered a knock-on effect in the crucial market for stablecoins after digital-asset giant Circle Internet Financial Corp., one of the biggest issuers of the widely used tokens known for their perceived safety, revealed it had $3.3 billion…

Bitcoin is having its worst week since November as an equity selloff, fear over higher interest rates and an escalating US regulatory crackdown on crypto combine to hurt investor sentiment.The largest token fell as much 3.2% on Friday, breaking below $20,000 for the first time since January, after falling more than 8% on Thursday. Smaller coins like Ether, Solana and Cardano also added to losses. A rout in US bank stocks on Thursday stoked concerns that rising borrowing costs are creating a treacherous economic and…

Bitcoin fell for a fourth day, sending the world's largest cryptocurrency to the lowest in nearly a month as sentiment in digital assets sours following the collapse of yet another onetime industry mainstay. The digital token fell as much as 2.7% on Thursday before recouping some losses to trade at around $21,500. Other tokens such as Ether also edged lower. Renewed turmoil in an industry already rocked by a series of blowups has put some investors on edge. The latest causality involves crypto-friendly bank…

For investors living on the digital edge, bitcoin is starting to look a little old-fashioned.Hooked on high growth, some are turning away from the original cryptocurrency - designed as an alternative to regular cash - in favor of its descendants created as native tokens of blockchain platforms that host smart contracts and apps. MarketVector's Smart Contract Leaders Index, which tracks major tokens of this kind - including ether, dot and solana - is up 36% in 2023, outpacing even bitcoin's 33% rise. Solana's token is up…