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August 2, 2021

Bitcoin

This scheme lets you mine bitcoin tax-free inside an IRA but may not pass muster with the IRS

CNBC
CNBC – For more and to sign up click here For years, the IRS has taken a chunk of crypto mining revenue from all U.S. taxpayers. But one company is now trying to help crypto miners shield mining gains from taxes by letting them transact within an individual retirement account,......

This 19-year-old earns $54,000 a year mining bitcoin as a full-time job — here’s what it’s like

CNBC
CNBC – For more and to sign up click here Bitcoin miner Zack Pettit skating on his work break at the SCATE Ventures mining facility in Dallesport, Washington. SCATE Ventures Inc. Nick Sears was 17 years old when he helped build a bitcoin mining farm in Dallesport, Washington. He was......

MicroStrategy CEO defends debt-financed bitcoin buys, compares it to investing early in Facebook

CNBC
CNBC – For more and to sign up click here MicroStrategy CEO Michael Saylor on Friday defended his enterprise software company’s debt-financed purchases of bitcoin, telling CNBC he sees buying the cryptocurrency right now as comparable to investing in Facebook in the social network’s early days. “We’ve got $2.2 billion......

PayPal comes in light on revenue, profit drops from last year

CNBC
CNBC – For more and to sign up click here The PayPal application can be seen on a mobile phone. Felix Kästle | picture alliance | Getty Images PayPal shares fell as much as 8% in extended trading on Wednesday after reporting second-quarter earnings that were weaker than analysts had......

How Tesla shrugged off a $23 million bitcoin loss last quarter: CNBC After Hours

CNBC
CNBC – For more and to sign up click here CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, CNBC.com’s Lora Kolodny explains Tesla’s record-breaking quarter, and why it’s so hard to know how the company’s bitcoin holdings are performing. Plus, the barbecue market is......

Cryptocurrencies can be a tool for building personal wealth long-term

CNBC
CNBC – For more and to sign up click here A visual representation of digital currencies. Yuriko Nakao | Getty Images Even though it’s a highly volatile asset, cryptocurrency can help investors build wealth, especially if they invest in digital coins over the long-term.   It’s a portfolio play that’s......

Binance CEO says he’s willing to step down as world’s biggest crypto exchange welcomes regulation

CNBC
CNBC – For more and to sign up click here Changpeng Zhao, CEO of Binance, speaks during a TV interview in Tokyo, Japan, on Thursday, Jan. 11, 2018. Akio Kon | Bloomberg | Getty Images The boss of cryptocurrency exchange Binance says he’s willing to step down from his role......

Here’s how much money you’d have if you invested $1,000 in bitcoin 1, 5 and 10 years ago

CNBC
CNBC – For more and to sign up click here Bitcoin has had a rollercoaster few months. The world’s biggest cryptocurrency by market cap hit an all-time high above $63,000 in April, but lost 50% of its value over the next three months. The coin’s price dipped below $30,000 as......

DOJ reportedly investigates crypto company Tether for possible bank fraud

CNBC
CNBC – For more and to sign up click here A smartphone displays the Tether market value on the via The Crypto App. Guillaume Payen | SOPA Images | LightRocket | Getty Images The Justice Department is investigating possible bank fraud by executives of Tether Ltd. stemming from actions during......

From bitcoin rallying to Amazon hiring a digital currency expert: 6 things that happened in crypto this past week

CNBC
CNBC – For more and to sign up click here After a sell-off last week, bitcoin, the largest cryptocurrency by market value, began to rally over the weekend. Its price topped $39,000 for the first time since mid-June on Monday morning, and is currently trading at around $38,603 as of......

Bitcoin tops $39,000 for the first time in nearly 6 weeks, adding $114 billion to the crypto market

CNBC
CNBC – For more and to sign up click here An illustration showing the cryptocurrency bitcoin with a price chart in the background. STR | NurPhoto via Getty Images Bitcoin surged Sunday evening topping $39,000 for the first time since mid-June as sentiment turned bullish following a recent sell-off. The......

A tax loophole is helping bitcoin holders save tons of cash by avoiding federal taxes

CNBC
CNBC – For more and to sign up click here 24K-Production | iStock Editorial | Getty Images The crypto market is down 46% from its all-time high in May, but shrewd investors are celebrating the dip in prices. Because the IRS classifies digital currencies like bitcoin as property, losses on......

Why some investors are banking on a bitcoin IRA instead of Social Security

CNBC
CNBC – For more and to sign up click here Nicolas Economou/NurPhoto via Getty Images For Matthew Roed, Social Security is looking a lot less promising than the money he’s stashed away in his BitcoinIRA. Roed is a registered nurse living in Golden Valley, Minnesota, and he says he’s spent......

China’s digital yuan could pose challenges to the U.S. dollar

CNBC
CNBC – For more and to sign up click here China is beating the U.S. when it comes to innovation in online money, posing challenges to the U.S. dollar’s status as the de facto monetary reserve. Nearly 80 countries — including China and the U.S. — are in the process......

Actor Adrian Grenier explains why bitcoin is central to his plan to build a communal farm in Texas

CNBC
CNBC – For more and to sign up click here Actor Adrian Grenier of “Entourage” believes that fiat currencies like the U.S. dollar are on the way out, and bitcoin is poised to take their spot.  While Grenier is the first to admit that he’s not a crypto expert, the......

‘I might pump but I don’t dump’: Elon Musk says he plans to hold bitcoin long-term⁠—here’s why that could be a good strategy

CNBC
CNBC – For more and to sign up click here Despite his recent criticism of bitcoin mining and its environmental impact, billionaire Elon Musk confirmed that he personally owns the cryptocurrency and has held it long-term. Though he didn’t specify exact amounts, Musk shared that bitcoin is his largest cryptocurrency......

Blockchain start-ups raised a record $4.4 billion in the second quarter despite the slump in crypto prices

CNBC
CNBC – For more and to sign up click here An illustration showing the cryptocurrency bitcoin with a price chart in the background. STR | NurPhoto via Getty Images Funding for blockchain start-ups topped $4 billion for the first time in the second quarter, despite a sharp slump in cryptocurrency......

Tesla will ‘most likely’ restart accepting bitcoin as payments, says Musk

Reuters
Representations of virtual currency bitcoin are seen in front of Tesla logo in this illustration taken, February 9, 2021. REUTERS/Dado Ruvic July 21 (Reuters) – Electric-car maker Tesla Inc (TSLA.O) will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used......

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