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Digital Currency

Bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

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Cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, rose following a 50 basis point interest rate cut by the Federal Reserve. Bitcoin reached its highest value in nearly four weeks, while Ethereum approached $2,500. Analysts predict further bullish trends if Bitcoin reclaims its 200-day moving average and expect increased interest in Ethereum and DeFi due to potential future rate cuts.

Portfolio Pulse from Aniket Verma

September 20, 2024 | 3:01 am

BlackRock Inc. (NYSE:BLK) has highlighted Bitcoin as a potential hedge against the U.S. federal deficit and debt crisis, which stands at $35 trillion. The asset manager's advocacy for Bitcoin, including the launch of the iShares Bitcoin Trust ETF (NASDAQ:IBIT), is seen as a strategic move to diversify against fiscal and geopolitical risks.

Portfolio Pulse from Aniket Verma

September 20, 2024 | 2:07 am

GameStop's trading card promotion led to a viral story where a customer found a Bitcoin redemption card worth over $60,000 in a $33 pack. This highlights GameStop's push into trading cards and cryptocurrency redemption programs.

Portfolio Pulse from Chris Katje

September 19, 2024 | 7:44 pm

Hut 8 Corp. (NASDAQ:HUT) shares rose after announcing an expanded partnership with BITMAIN to introduce a new liquid-cooled ASIC miner for Bitcoin mining. The agreement could significantly increase Hut 8's hash rate and computing capabilities.

Portfolio Pulse from Dylan Berman

September 19, 2024 | 6:43 pm

Standard Chartered's Geoff Kendrick predicts Bitcoin and digital assets will grow following a U.S. interest rate cut. Macroeconomic factors, like the U.S. Treasury yield curve, are now key drivers, overshadowing political events. Bitcoin could reach new highs by 2024, with potential ETF inflows boosting the market.

Portfolio Pulse from Murtuza Merchant

September 19, 2024 | 6:19 pm

CleanSpark, Inc. (NASDAQ:CLSK) shares are trading higher due to a broad market rally following the Federal Reserve's first interest rate cut in four years. This has increased the attractiveness of risk assets like stocks and cryptocurrencies, including Bitcoin, which is trading above $63,000. CleanSpark's revenue growth in FY23 was 20.22%, and its stock has outperformed its peers despite a negative average annual growth rate.

Portfolio Pulse from Erica Kollmann

September 19, 2024 | 5:14 pm

Wall Street saw record highs as the Federal Reserve cut interest rates by 50 basis points. Tesla and NVIDIA led a tech rally, with Tesla hitting a two-month high. The iShares Semiconductor ETF erased September losses, and commodities and cryptocurrencies also rose.

Portfolio Pulse from Piero Cingari

September 19, 2024 | 4:51 pm

Authorities have arrested two individuals involved in a $243 million cryptocurrency heist targeting a Genesis creditor. The cybercriminals used social engineering tactics to gain access to the victim's accounts and transferred funds across multiple cryptocurrencies. The investigation led to the arrest of key figures and the recovery of some stolen funds.

Portfolio Pulse from Murtuza Merchant

September 19, 2024 | 4:02 pm

The Federal Reserve's 50-basis point interest rate cut is seen as a positive move for risk assets like Bitcoin, with potential further cuts in 2024. Analyst Alex Krüger suggests a bullish outlook for Bitcoin, though its trajectory may be influenced by U.S. election results. The Fed's easing cycle, without a recession, historically boosts equities, but investors should watch economic indicators and political developments.

Portfolio Pulse from Khyathi Dalal

September 19, 2024 | 3:52 pm

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