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

MicroStrategy Plans to Sell Shares to Buy More Bitcoin. The Stock Is Falling.

Text size MicroStrategy stock is sensitive to swings in the price of Bitcoin. Dreamstime MicroStrategy stock has surged in recent days amid a rally in cryptocurrency prices—but the shares have turned lower following news that the business intelligence company with major Bitcoin holdings plans to sell shares. In a filing Friday with the Securities and … Read more

Largest Bitcoin Miners Lost Over $1 Billion During Crypto Crash

Core Scientific Inc., Marathon Digital Holdings Inc. and Riot Blockchain Inc. posted net losses of $862 million, $192 million and $366 million, respectively, in the three months ended June 30, recent quarterly earnings reports show. Other significant miners such as Bitfarms Ltd. and Greenidge Generation Holdings Inc., which reported results Monday, were also forced to … Read more

Crypto market stands like Nasdaq in the early 2000s. Here’s why

Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’m Frances Yue, crypto reporter at MarketWatch, and I’ll walk you through the latest in this bear market. Find me on Twitter at @FrancesYue_ to send feedback, or tell us what you think we should cover. You can also … Read more

Tesla’s Bitcoin Dump Leaves Accounting Mystery in Its Wake

This is what we know, based on the company’s shareholder letter: The sale added $936 million in cash to its balance sheet, but impairments impacted the company’s income. The company’s remaining pot of digital assets as of June 30 was worth $218 million, a reduction of more than one billion dollars from the previous quarter. … Read more

When will crypto winter end? Bitcoin halves may not be enough to explain market cycles

Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’m Frances Yue, crypto reporter at MarketWatch, and I’ll walk you through the latest in this bear market. Find me on Twitter at @FrancesYue_ to send feedback, or tell us what you think we should cover. You can also … Read more

The Best Income Investments Now

Income-oriented investors, it’s time to celebrate. There are suddenly many more opportunities — in areas ranging from junk bonds to real estate investment trusts — after the bear markets in stocks and bonds in the first half of 2022. In the bond market, yields in many cases have doubled, to around 8%, after one of … Read more

Stock Market Today: Dow Retreats, Oracle Climbs

The stock market was mixed Tuesday as bond yields remained near their highs. Now, it’s up to Federal Reserve to determine where stocks head next. The central bank meets Wednesday to consider another interest rate increase — possibly even three-quarters of a percentage point. In midday trading, the Dow Jones Industrial Average was off 212 … Read more

Ethereum could ‘take over everything’, and there won’t be a multi-chain future, says EY’s blockchain leader

Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’m Frances Yue, crypto reporter at MarketWatch, and I’ll walk you through the latest and greatest in digital assets this week so far. Find me on Twitter at @FrancesYue_ to send feedback, or tell us what you think we … Read more

Coinbase to Slow Hiring Spree as Users Drop Off

Coinbase Global Inc., COIN 13.45% the largest US-based crypto company, will slow its pace of hiring amid a crash in the crypto markets. The announcement was made privately to employees and later in a statement by President and Chief Operating Officer Emilie Choi posted on the company’s blog. Entering 2022, the company had planned to … Read more