Nick Chong

For years, Peter Schiff, an economist and investor, has been an ardent critic of Bitcoin. Despite the recent wave of adoption Bitcoin experienced at the hand of institutional investors, Schiff is still very much against Bitcoin. Responding to a comment from Tesla CEO Elon Musk who this week wrote on Twitter that Bitcoin is "almost as BS as fiat money," Schiff said: "According to @elonmusk 'Bitcoin is almost as BS as fiat money.' So Musk regards both #Bitcoin and fiat as BS. I agree, I just thi

MicroStrategy stunned the Bitcoin space early last week when it revealed it would be raising $600 million in a new offering of convertible senior notes. The business strategies firm said it wanted to use the proceeds of the sale to purchase additional bitcoin. This announcement in itself came as a bit of a surprise already, seeing as only in December, MicroStrategy had raised $650 million in the same type of offering, as the BTC Times reported previously. Following increased demand for Bitcoin

Tesla was revealed to have acquired $1.5 billion worth of bitcoin, as reported by the BTC Times in January. According to SEC filings, the firm acquired $1.5 billion worth of bitcoin with cash from its balance sheet. The firm wrote that they wanted "more flexibility to further diversify and maximize returns on our cash.” Tesla was also revealed to be looking into accepting the digital asset for its vehicles and products, which is something that many in the cryptocurrency space have long requeste

Popular finance news and information site The Motley Fool has become the latest firm to allocate capital to Bitcoin. Of note, the company is a private firm, unlike other institutional Bitcoin players such as MicroStrategy. In a Twitter thread, the firm wrote that they will be buying $5 million worth of bitcoin with capital from its balance sheet.   The Motley Fool added that it believes Bitcoin will perform well over the long run, noting that it normally tells investors to hold assets for five

On Tuesday, MicroStrategy revealed its intent to raise $600 million through a new offering of convertible senior notes to buy more bitcoin.  Just one day later, the firm is already upsizing the size of the round to $900 million. In an announcement early Wednesday morning, the business services company wrote that the aggregate pricing of the notes had been increased to $900 million, $300 million above the original plan:  "MicroStrategy® Incorporated (Nasdaq: MSTR) (“MicroStrategy”) today announ

According to a tweet from Jack Dorsey published on Friday, the Twitter CEO and artist Jay-Z will be giving 500 bitcoin to an endowment to fund Bitcoin development. 500 bitcoin is currently worth around $24 million, according to BTCTimes Bitcoin pricing data.  The fund, called Btrust, will be focused on providing funding for Bitcoin developers based in Africa and India. It will be set up as a "blind irrevocable trust," meaning those that funded it, in this case the artist and the chief executive

One of the world's largest banks, Bank of New York Mellon Corporation (BNY Mellon), is entering the cryptocurrency space as a growing number of Wall Street institutions signals its interest in Bitcoin.  According to The Wall Street Journal, the firm said on Thursday that it will custody bitcoin and other digital assets for its clients in the future. In a statement, Roman Regelman, CEO of the firm's asset-servicing and digital technologies businesses, said that "Digital assets are becoming part

The bitcoin price is surging higher today as Tesla, the world-famous electric vehicle manufacturer, has moved $1.5 billion from its cash position to bitcoin. According to SEC filings, the firm is buying bitcoin to provide "more flexibility to further diversify and maximize returns on our cash.” It was also indicated that this purchase will be followed by Tesla accepting bitcoin for its vehicles, dependent on local laws. $1.5 billion is equivalent to around 40,000 bitcoin, assuming Tesla bought