Bitcoin Could Hit $500,000 in Next Decade, Says MicroStrategy’s Michael Saylor

Text size Bitcoin prices have plunged this year. Yuri Cortez/AFP/Getty Images Bitcoin could reclaim its November 2021 all-time high by 2026 and surge even higher if its valuation fundamentals change, according to high-profile cryptocurrency proponent Michael Saylor. Saylor—the chairman of business intelligence software company MicroStrategy (ticker: MSTR)—said at MarketWatch’s Best New Ideas in Money Festival … Read more

Japan Jumps Into Market to Buy Yen for First Time in 24 Years; Currency Rallies

The rare intervention was the latest example of global concern triggered by the strong dollar, which has gained ground on the back of the Federal Reserve’s interest-rate increases. One nation hit by the fallout is Japan, the world’s third-largest economy, which has to pay more for essential imports of oil, natural gas and food. These … Read more

Yen rallies after Japan unilaterally intervenes for the first time in 24 years

The dollar dropped sharply against the Japanese yen on Thursday, in the first intervention to support its currency since 1998, after the Bank of Japan bucked the trend of other central banks by not hiking interest rates. The dollar USDJPY, -0.93% dropped swiftly, trading at 142.20 yen from 144.08 yen on Wednesday, in action timed … Read more

Yen rallies after Japan unilaterally intervenes for the first time in 24 years

The dollar dropped sharply against the Japanese yen on Thursday, in the first intervention to support its currency since 1998, after the Bank of Japan bucked the trend of other central banks by not hiking interest rates. The dollar USDJPY, -0.95% dropped swiftly, trading at 142.20 yen from 144.08 yen on Wednesday, in action timed … Read more

Brace yourselves, the Fed is about to inflict ‘some pain’ to fight inflation — here’s how to prepare your wallet and portfolio

The Fed is ready to bring the pain. Are you prepared? Weeks ago, Federal Reserve Chair Jerome Powell cautioned there would be “some pain to households and businesses” as the central bank jacks up interest rates to fight inflation that’s higher than it’s been in four decades. Powell and other members of the Fed’s Federal … Read more

Loans Are Cheaper Than Bonds for Some Highly Rated Companies

Some highly rated companies are turning to term loans instead of bonds for their financing needs, taking advantage of cheaper pricing as banks have been slower to adjust to rising interest rates than the credit markets. With the Federal Reserve expected to approve another big interest-rate increase this week, finance chiefs are doing the math … Read more

4 things to watch when the Fed delivers its rate-hike decision

The Federal Reserve is raising rates on Wednesday. That much is certain. Beyond that, there are weighty questions about whether the central bank’s efforts to bring down inflation can succeed without crashing the economy. With Fed Chairman Jerome Powell talking about “pain” for the economy in his Jackson Hole speech in August, investors are bracing … Read more

Nasdaq to provide crypto custody for institutional investors

Nasdaq Inc., owner of the second largest stock exchange, is looking to provide crypto custody service to institutional investors, in its first major push into the rather nascent industry, despite a price downturn for the asset. The service is subject to regulatory approval, according to a statement from Nasdaq on Tuesday. Ira Auerbach, Nasdaq’s senior … Read more

Bitcoin Slumps to Lowest Since Late 2020, Ether Tumbles on Fed Jitters

Text size Bitcoin, the world’s largest cryptocurrency, has declined nearly 60% this year. Dreamstime Bitcoin fell Monday and other cryptocurrencies followed it lower ahead of what’s expected to be the third straight outsized interest rate hike from the Federal Reserve when the central bank meets this week. It could be coiling for a big move. … Read more

Dollar’s Rise Spells Trouble for Global Economies

The US dollar is experiencing a once-in-a-generation rally. For the rest of the world, that is a big problem. The dollar’s role as the primary currency used in global trade and finance means its fluctuations have widespread impacts. The currency’s strength is being felt in the fuel and food shortages in Sri Lanka, in Europe’s … Read more