If you think the stock market's rise has been impressive, wait until you see how Bitcoin has performed.

Bitcoin's rise has certainly been a remarkable one. In only 12 years, this cryptocurrency has gone from having no monetary value to surging above $60,000 for a brief period. And for investors who got in during the early days and have held on, the returns have been absolutely remarkable.

While we obviously can't go back in time, it can be fun to look at the amount of money made by those with the foresight to get in on the ground floor of successful investments.

So here's how much you would have if you had bought Bitcoin a decade ago, before most people had any idea what a cryptocurrency was.

At the start of May 2011, Bitcoin was trading for approximately $3.50 (that isn't a typo). So, $1,000 would have bought approximately 286 Bitcoins, not counting any transaction costs. As of April 27, 2021, Bitcoin trades for $54,680.

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That means 286 Bitcoins would be worth approximately $15.6 million today, assuming you held on to them for the past 10 years.

It's important to mention that the last sentence is a big assumption. If you had been fortunate enough to dip into your savings and buy a bunch of Bitcoins at $3.50 each, would you have been tempted to sell when the price first spiked to $100? What about when it first broke through $1,000? Or the first time it eclipsed $10,000? Many investors who got in during the early years of Bitcoin ended up selling at least some of their positions on the way up.

Speaking of the major milestones Bitcoin has hit over the years, here's a quick history of its prices.

If there's one key takeaway, it is that the digital currency has been very unpredictable. Bitcoin has seen two major peaks, not counting the current rise. And each time, it has retreated considerably and taken several years to eclipse the previous highs.

It's entirely possible that we'll see $100,000 Bitcoin in a matter of months or even sooner. But it's important to realize that $10,000 or less is also very possible. If you decide to buy Bitcoin at the current price level, do so with its volatile and unpredictable nature in mind.

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If You Invested $1,000 in Bitcoin 10 Years Ago, Here's How Much You'd Have Today - The Motley Fool

For years the Bitcoin industry has been hoping the U.S. Securities and Exchange Commissionwould approve an ETF, which would theoretically allow an easy onramp for a lot more money to flow into the coin. So far though, applicants have been disappointed, despite approvals for similar products in other countries. But with institutional adoption on the rise, could 2021 finally be the year? Bloomberg IntelligenceETF Analyst Eric Balchunas says hes more optimistic than hes ever been. In this Q&A he explains why, and breaks down the landscape.

Joe Weisenthal:So Eric. A Bitcoin ETF is something the community has hoped to see for a long time now. And nobody knows ETFs as well as you. It really feels like the entire industry has been monitoring your work for clues or signs about whether its coming. How has that focus been from your perspective?

Eric Balchunas:It is one of those things that no one really knows, unless you are inside the SEC. But we have been pretty obsessed with this story since the Winklevoss Twins filed for the first one in 2013, so we have been trying to give our takes in real-time and track every little stage. And I will say it does feel like theres been a shift this year. We are more optimistic of an approval than weve ever been.

Joe:Whats changed your thinking? Why does it feel like 2021 is different than, say, 2017 or 2018, the last time there was a lot of hype?

Eric:First is the institutional adoption of crypto is much greater, the money centers are getting involved. Second, you have the intense growth of defaultcrypto products like GBTC which are not ideal for retail investors and the SEC knows this. Finally, theres been a torrent of launches up in Canada which have worked fine and seen a lot of action. Canada has a history of being like six months to a year ahead of the U.S. Last but not least, [Gary] Gensler coming in as chair. He gets crypto, taught classes at MIT on it, albeit he does have some concerns.

Joe:Speaking of Canada, youve posted a lot about what a smashing success those initial launches have been. Can you give some perspective on how much demand there is for those products?

Eric:Some of the stats are insane. First off, Canada crypto ETFs already have $2.3 billion in assets in threemonths. And Canadas market is 1/27th the size of the U.S.so that would be like $60 billionhere! Also, they have taken over the most traded leaderboard up in Canada. There are typically three to four crypto ETFs in the Top 20. Finally, the Ether ETFs that were launched recently have actually seen volume grow (rare for new ETF launch) indicating wide interest. All that action and they have very moderate premiums to NAV too (which is the problem with the OTC trusts like GBTC)

Joe: In the U.S. obviously theres been a bunch of other stuff for regulators to think about. We had the whole GameStop/Robinhood story. There's concern over SPACs and the accounting treatment of them. The talk about Bitcoin's energy impact is growing. And now we have this ransomware attack on the gasoline pipeline. Could regulators decide there's just too much other stuff to deal with right now?

Eric: Totally. Bigger fish to fry for an incoming chair is a huge variable and could delay approval. Gensler also noted that: We dont have a Federal regime overseeing the crypto exchanges and seems to not be totally comfortable with the exchanges yet. All that said, I do think time is now of the essence on this issue due to the increased flows going to these defaultETFs like GBTC and stocks that put Bitcoin on-balance sheet. The more they wait the more it will get messy when they approve given all the cash in these other vehicles. Also the longer they delay the more they will effectively play kingmaker as whoever is out first is instantly wealthy. So I think there's a risk of waiting too long and I think they understand that.

Joe: Interesting. So you mentioned that Gensler gets crypto. What does that mean exactly? Whats his backstory with it for people who are unfamiliar?

Eric: He taught a Blockchain Technologies & Cryptocurrencies class at MIT. We pored over the transcript of the class and he knows his stuff, arguably more than most Bitcoin investors. He even went Full Crypto a few times, calling fiat a social constructbut on the flipside, he was also pretty clear that he thought the crypto markets were ripe with scams and frauds.The transcript was a good insight into his brain on this topic. Here's a link in case anyone interested.

Joe: So presumably theres a huge pot of money to be made for whichever applicant becomes the GLD of Bitcoin (if that analogy makes sense). There are numerous players who want in. Presuming the SEC is eventually open to approving a Bitcoin ETF, how will it judge the various contenders? Or will they all be allowed to go, if and when, the green light is turned on?

Eric: This is the most fascinating part of the story right now. Because whoever gets out first is set for life. In Canada, one issuer had just a one-day head start and ended up getting almost all the volume going forward. We think what they will do is let two to three launch on day one likely an established ETF issuer like VanEck or WisdomTree or maybe Fidelity versus say a newbie. Then theyll line the rest of up like airplanes on a runway and let them launch over the next few weeks. Again, thats just our guess. That is what would make sense for us rather than letting one lucky issuer go first or on letting more than 10 launch on same day, which could create chaos.

Joe: But are there differences in the applications that the SEC would consider?Or are they all kind of the same?

Eric: There are some slight difference but largely they are all the same (which is to say like GLD but for Bitcoin) and the SEC will likely work with them ahead of time to iron out any deal breaker type differences or missing details. That said, VanEck filed for an Ether ETF too and we think that would likely go after the Bitcoin ones.

Joe: Got it. Just two more questions, and then Ill let you go. This isnt an ETF question per se, but you mentioned crypto exchange regulation as something Gensler expressed some dissatisfaction about. It still feels like that space operates in a looser manner than the traditional finance realm with, say, their promotion of specific coins in their advertising. Do you have any sense what the SEC might like to see on the exchange front?

Eric: Weve seen quotes from Gensler recently that he sees some of these tokens and cryptocurrencies as securities and hes interested in cleaning that up since securities fall under the SECs purview. He will likely also look for any fraud or potential for fraud. In terms of the promotion stuff we havent seenanything directly on that but the way the SEC responds to Robinhood could give us some insight into that aspect. All that said, Canada and Europe crypto ETPs are all using these same exchanges for years and there havent been any major issues and premiums/discounts to NAV have been minimal, indicating market makers are able to adequately arbitrage the ETFs and the underlying cryptos. Weve also spoken to market makers and they aren't that worried about it. But Genslers view is the one that matters.

Joe: Got it. Appreciate your taking the time here. Last question, not crypto-related per se, but what else in the ETF world should people be watching right now?

Eric: One thing that is new and developing and is likely going to be bigger than many think is active mutual funds converting into ETFs. We saw the first one ever happen a month ago and therevebeen a couple since and some bigger fish like DFA have some in the works. This will be fascinating to watch since mutual funds have about $18 trillion in assets in the U.S. Some of that will convert. Some wont. How much of it does is the question though.

Joe: Awesome! This was great. Really appreciate your taking the time

For more on this topic, you can check out our Odd Lots episode Inside the Multi-Year Quest to Create a Bitcoin ETF with Greg King, CEO of Rex Shares,from 2018. You can also follow Eric Balchunas on Twitter here.

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Will We Have a Bitcoin ETF This Year - Bloomberg

Does an increasing number of Bitcoin ETFs increase the odds that the Securities and Exchange Commission will approve at least one of them, opening the gates to more?

Thats what cryptocurrency enthusiasts are hoping for, but last week the SEC decided to delay a decision on a rule change that would have paved the way for the VanEck Bitcoin Trust to trade on the Cboe.

Five days before the first deadline for the decision, the SEC postponed it for another 45 days, which is an option it always had. The new deadline is June 17, 2021, at which point the SEC will ll either approve or disapprove the application or or institute proceedings to determine whether to disapprove, the proposed rule change, according to the agency.

The SEC did not give a reason for the postponement and only said it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received.

The SEC has rejected several Bitcoin ETF applications in the past, including one by VanEck, which was resubmitted with changes. There are currently eight Bitcoin ETF filings pending before the SEC, seven of them filed this year. Several Bitcoin ETFs are already trading in Canada, from Purpose, Evolveand CI Galaxy, on the Toronto Stock Exchange.

Grayscale, which runs multiple cryptocurrency trusts, including the $36 billion Grayscale Bitcoin Trust (GBTC), has not filed an application for a Bitcoin ETF but has said it expects to convert GBTC to an ETF.

Wilshire Phoenix Funds doesnt have an application for a Bitcoin ETF currently, but it has filed for an initial public offering of the wShares Bitcoin Commodity Trust, to list on the OTCQX Best Marketplace. If approved by the SEC, the trust would be the first publicly registered Bitcoin fund. The SEC rejected Wilshire Phoenixs prior Bitcoin ETF filing in February 2020.

See the slideshow above for a rundown of all the Bitcoin ETF applications pending before the SEC, based on the SEC filings and analysis contained on ETF.com. All but two of the ETFs the NYDIG and First Trust Skybridge are passive funds that would follow an index.

Related on ThinkAdvisor:

Read more here:
Which of These 9 Funds Will Win the Bitcoin ETF Race? - ThinkAdvisor

Follow us @crypto for our full coverage.

Binance Holdings Ltd., the largest cryptocurrency exchange, briefly suspended withdrawals on Monday.

The company made the announcement on Twitter that it had stopped withdrawals, and then about half an hour later said they had resumed. Changpeng Zhao, the Binance co-founder who goes by CZ, said by text message that we sometimes have to do some system maintenance work, without elaborating further.

Trading disruptions are relatively common in the world of crypto, where exchanges operate in a lightly regulated environment and arent subject to the same stringent controls of traditional exchanges. Still, the frequency of the problems has raised questions about the safety of crypto trading at a time when thousands of new customers are flocking to platforms like Coinbase, Binance and Kraken.

Crypto Mania Sends Doge Soaring, Crashes Robinhood Token Trading

The popularity of crypto and its wild market swings are also catching the attention of more central bankers and regulators. Last week, Bank of England Governor Andrew Bailey issued a stark warning to those investing in cryptocurrencies: Buy them only if youre prepared to lose all your money.

Binance, which is run from Asia, has been attracting more than 300,000 user registrations a day, exceeding its previous peak reached in 2017, Zhao told Bloomberg TV in February.

(Updates with company comment in second paragraph.)

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Bitcoin on the slide, under $55.5K ... make that under $55K - ForexLive - ForexLive

Sen. Elizabeth Warren (D-MA) has questions about cryptocurrency, including whether it takes advantage of smaller investors. The progressive senator also wonders whether bitcoin is too easy to steal.

The former presidential candidate has been pushing for government intervention on both of those fronts and, in a conversation with Yahoo Finance's editor-in-chief, Andy Serwer, this week, she raised another growing concern: the impact on the planet that has come with the rapid growth of cryptocurrency.

I also think with bitcoin, and with the other cryptocurrencies, I think there's a real issue about the environmental impact as well, this whole notion of how much energy is consumed just to keep the currency tracking going, said Warren, who's out with a new book, "Persist," which is billed as both a personal narrative and a call for "political transformation."

[See also: Robinhood deserves 'close look' from SEC: Elizabeth Warren]

Compared to traditional currency, bitcoin has a relatively large carbon footprint because new bitcoin has to be "mined." Bitcoin "miners" receive bitcoin as a reward for verifying and recording transactions that require massive amounts of computing power which takes massive amounts of real life power.

Sen. Elizabeth Warren (D-Mass.) questions Xavier Becerra, nominee for Secretary of Health and Human Services, during his Senate Finance Committee nomination hearing on Capitol Hill in Washington, DC, U.S., February 24, 2021. Greg Nash/Pool via REUTERS

Crypto miners' energy needs have already disrupted the grid of an entire town, and consumption grows the more popular these currencies become.

You don't consume that kind of energy, in order to have money on deposit at a bank or a mutual fund, Warren told Yahoo Finance. In that sense, bitcoin is very different and in a 21st century, we're becoming a lot more sensitive to the worldwide impacts of the choices we make.

Warren spoke to Serwer in an episode of Influencers with Andy Serwer, a weekly interview series with leaders in business, politics, and entertainment.

There have been different efforts to measure the environmental impacts of bitcoin. The electricity used to mine bitcoin each year exceeds the individual annual electricity consumption of Ukraine, Sweden, or Argentina, according to an ongoing study from the University of Cambridge's Judge Business School.

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Warren is far from alone in expressing concerns over bitcoin. Microsoft founder Bill Gates, who has worked to fund efforts at combating climate change, has also raised the alarm over the cryptocurrency.

Bitcoin uses more electricity per transaction than any other method known to mankind, and so its not a great climate thing," Gates told Andrew Ross Sorkin of The New York Times in February.

It's unclear whether governments around the world will enact regulations to mitigate these impacts, but the industry has taken some steps to regulate itself. In April, energy, cryptocurrency, and fintech leaders signed onto a "Crypto Climate Accord" seeking to have all of the world's blockchains powered by 100% renewables within four years. Meanwhile, payments company Square (SQ) has responded to the increasing public pressure by pledging to support greener bitcoin mining practices and to become a zero-net carbon contributor by 2030.

Still, even if bitcoin's environmental impacts are reduced, Warren will likely continue to have questions about the cryptocurrency. As she told CNBC in March, agreeing with a sentiment expressed by Treasury Secretary Janet Yellen, "It's speculative in nature and going to end badly."

Ben Werschkul is a writer and producer for Yahoo Finance in Washington, DC.

Elizabeth Warren responds to Biden's backing of COVID-19 vaccine patent waivers: 'I'm delighted'

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Elizabeth Warren: 'There's a real issue' with environmental impact of bitcoin - Yahoo Finance

Q. My father is 78 and has about $1 million in his retirement accounts. Hes now talking about buying Bitcoin and chasing stocks he reads about on social media. How can I get him to stick with mutual funds?

Concerned

A. Cryptocurrency has been pretty hot lately, as have stocks pumped up by interest on social media boards.

But before investing in these or any investment, there are some basic fundamentals to consider.

First, said Jeanne Kane, a certified financial planner with JFL Total Wealth Management in Boonton, you need to understand where an investment gets its value.

Apple, for example, is a technology company that sells computers, phones and watches.

Next, understand how the investment may increase or decrease in value, she said. Apple, for example, had revenue of $89.6 billion in second quarter of 2021, up 54% year over year with earnings per share of $1.40

For stocks, bonds, and mutual funds, you can research and get the answers to these questions, she said.

Investments like Bitcoin should be held to the same standard, Kane said. Where does Bitcoin get its value and why does it increase? If your dad cant answer those questions for Bitcoin or any other investment, he shouldnt be investing in it.

In talking to your dad, Kane recommends you dont try to steer him in a totally different direction. She said that generally that does not work, especially when it sounds like hes getting emotionally caught up in the excitement created around certain investments.

Maybe suggest that he set up a separate account and put in $100,000 or less and play with that. Limit the exposure, she said. It is his money, and he will do what he wants which is his right. To tell him he cant will only make him want to do it more.

Thats why its probably your best option to give him an opportunity to do what he wants while limiting the downside.

Emotion runs high with investing, especially in an up market, really since 2008, with only one negative year 2018, she said. Logic generally does not work well with emotional responses so the best you can do is really to limit the downside.

Email your questions to Ask@NJMoneyHelp.com.

Karin Price Mueller writes the Bamboozled column for NJ Advance Media and is the founder of NJMoneyHelp.com. Follow NJMoneyHelp on Twitter @NJMoneyHelp. Find NJMoneyHelp on Facebook. Sign up for NJMoneyHelp.coms weekly e-newsletter.

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My dad wants to invest in Bitcoin. Should he? - NJ.com

FORT LAUDERDALE, Fla., May 10, 2021 /PRNewswire/ -- Graystone Company, Inc. (OTC: GYST) announced today that it has formed a separate operating subsidiary. All of the company's Bitcoin Mining will be conducted through a wholly owned subsidiary, Graystone Mining, Inc.

Terahash are the units used to measure speed of the mining hardware for mining Bitcoin, with a TH/s equaling one trillion hash calculations computed per second. Due to the production and technical differences among the various BTC mining equipment available, from this point forward, the company will always discuss mining operations in terms of TH/s and will make its purchasing and acquisition decisions based on the following calculations:

Acquisition cost per TH/s

Power cost per TH/s.

Graystone Mining, Inc. plans to acquire 50,000 Terahash (TH/s) in calendar year 2021. Based on open-source calculators available through online resources such as NovaBlock, we currently expect the following results from 50,000 TH/s:

Daily Revenue: 0.30503539 BTC (or approximately $17,500 per day USD based on current Bitcoin price)

Daily Power Costs: $2,816 per day (based on $1.69 per month per TH/s)

*Calculated using: https://novablock.com/calculator

These calculations are subject to change based on increases in price for equipment, costs for power or fluctuation in price per BTC. Even with these variables, the company feels strongly that an aggressive approach to Bitcoin Mining will be very favorable toward creating shareholder value.

About The Graystone Company, Inc.Graystone Company operates two divisions: A Bitcoin BTC mining operation and a Wellness, Longevity and Anti-Aging product line. The Graystone Company, Inc. (OTC PINK: GYST) is headquartered in Fort Lauderdale, FL., and can be contacted at http://www.thegraystonecompany.com or by phone at (954) 271-2704.

Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.

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For more information:Graystone CompanyEmail: info@thegraystonecompany.com Phone: (954) 271-2704

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SOURCE Graystone Company, Inc.

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Graystone Company Announces Subsidiary for Bitcoin Mining Operations and Objectives for 2021 - Yahoo Finance

NEW YORK, May 10, 2021 (GLOBE NEWSWIRE) -- via InvestorWire - - CryptoCurrencyWire (CCW), one of 50+ brands forming part of the InvestorBrandNetwork (IBN), is proud to announce its collaboration with Bitcoin Events as the official newswire for the DeFi Conference 2021. Designed to focus on global DeFi and NFT adoption, as well as related challenges, compliance and regulations, the DeFi Conference 2021 will take place on August 5, 2021 in an entirely virtual format.

The advent of blockchain-based decentralized finance (DeFi) has led to the widespread disruption of a variety of industries over the past few years. DeFi Conference 2021 will seek to bring together a collection of entrepreneurs, liquidity providers, academics, investors, economists, regulators, and other interested parties to learn from, and network with individuals within the decentralized finance industry, whilst seeking to explore the current opportunities and challenges inherent within the space.

Set to host over 2,500 attendees from over 80+ countries, this years conference will feature keynote addresses from over 35 global thought leaders and innovators within the decentralized finance space, across two separate tracks delving deeper into DeFi and non-fungible tokens (NFTs), respectively.

Attendees will learn from real-world case studies about organizations who have built DeFi services, products, and platforms, gain an understanding on how to develop strategies into successful DeFi implementation and discover how DeFi can assist in enabling greater financial inclusion across wide swathes of the global economy.

IBN and CCW will work in conjunction with one another to leverage their extensive array of corporate communications solutions to increase recognition for conference participants who are seeking to enhance visibility before investors, journalists, consumers, and the public. Effective brand awareness strategies offered by CCW will include a wire-grade press release to announce the event, two full-length articles with amplified article syndication across CCWs 5,000+ strategic distribution partners as well as featuring the event on its dedicated events page along with a site-wide banner on the CCW website.

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We are delighted to be working with the Bitcoin Events team once again in the capacity of official newswire for the upcoming DeFi Conference 2021, said Jonathan Keim, Director of Communications for CryptoCurrencyWire. This partnership is a highlight for CCW, and we are excited to once again have the opportunity to highlight the decentralized finance sector, a sector which we believe will continue to gain increased prominence over the coming years.

In addition to CryptoCurrencyWires widespread dissemination of articles and press releases, InvestorBrandNetwork is set to provide social media coverage of the virtual event. Collectively among its 50+ investor-oriented brands, the network now has more than 2 million likes and followers across a variety of platforms such as Facebook, Twitter and LinkedIn.

We are pleased to continue our partnership with the CryptoCurrencyWire team, who will be serving as the DeFi Conferences official newswire, said Sonya Kuhnel, Founder of Bitcoin Events. With their expansive syndication network of more than 5,000 media outlets and sustained coverage through a strong social media presence, were confident that CryptoCurrencyWire will play a key role in helping us reach a wider audience and provide invaluable exposure to our sponsors, presenters and exhibitors.

To find out more and register, visit the events official website at www.http://bitcoinevents.co.za/defi-conference-2021/

About Bitcoin Events

Bitcoin Events was founded by Sonya Kuhnel and Theo Sauls in 2014. They are both early adopters of bitcoin and are extremely passionate about the future of cryptocurrencies and blockchain technology. Sonya and Theo saw a need to educate and inform people about the opportunities offered by digital currencies and blockchain technology. In 2015, Bitcoin Events started the Blockchain Africa Conferences to address this need. To date, Bitcoin Events have hosted seven highly successful Blockchain Africa Conferences in Cape Town and Johannesburg, and most recently online. Bitcoin Events is also host of the annual Crypto Fest and DeFi Conferences.

Over 10,000 attendees from over 165 countries have attended the events over the years.

About CryptoCurrencyWire (CCW) CryptoCurrencyWire is a financial news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the InvestorBrandNetwork (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with CCW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in todays market, CCW brings its clients unparalleled visibility, recognition and brand awareness.

CryptoCurrencyNewsWire is where news, content and information converge via crypto.

For more information, please visit https://www.CryptoCurrencyWire.com.

Please see full terms of use and disclaimers on the CryptoCurrencyWire website applicable to all content provided by CCW, wherever published or re-published: https://www.cryptocurrencywire.com/disclaimer/

Corporate Communications Contact: CryptoCurrencyWire (CCW) New York, New York http://www.CryptoCurrencyWire.com 212.418.1217 Office Editor@CryptoCurrencyWire.com

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CryptoCurrencyWire Partners With Bitcoin Events as the Official NewsWire for the DeFi Conference 2021 - Yahoo Finance

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Bank of England Governor Andrew Bailey issued a stark warning to those investing in cryptocurrencies: Buy them only if youre prepared to lose all your money.

In response to a question about financial stability, Bailey said the central bank was well positioned to respond to any threats that might arise. However, he objected to the use of the phrase cryptocurrency and took the opportunity to push back on their growing popularity.

Im afraid crypto and currency are two words that dont go together for me, he said at a press conference Thursday. They have no intrinsic value.

Bailey has long been dismissive of the assets, and his comments follow yet another period of speculative excesses for a market Nouriel Roubini once described as the mother of all bubbles.

While in the past, trillions of dollars in stimulus by governments and central banks might have triggered a rush into gold for the inflation-wary and risky stocks for the intrepid, a deluge of cash this time round is flooding into the crypto market. Its even pushed up the price of digital tokens previously considered a joke, like Dogecoin.

Read More: Crypto Mania Sends Doge Soaring, Crashes Robinhood Token Trading

The BOE last month said it would join forces with the U.K. Treasury to weigh the potential creation of its own central bank digital currency, joining authorities from China to Sweden exploring the next big step in the future of money. If approved, the U.K.s digital currency would exist alongside cash and bank deposits, rather than replacing them, they said.

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Bitcoin (BTC USD) Cryptocurrency Price: Bank of England Warns of Full Losses - Bloomberg