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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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Bitcoin's price has increased by 3.77% in the last 24 hours, reaching $56,881.00, despite a 1.0% loss over the past week. Trading volume has surged by 38.0%, while the circulating supply decreased by 0.89%. Bitcoin remains the top cryptocurrency with a market cap of $1.12 trillion.

Portfolio Pulse from Benzinga Insights

September 10, 2024 | 3:01 pm

The iShares Bitcoin Trust ETF (IBIT) has seen a decline, dropping below key averages and signaling a bearish trend. Despite a strong start in 2024, the ETF is down 20.94% over the last six months. Critics like Peter Schiff argue that Bitcoin ETFs have underperformed compared to gold ETFs. Technical indicators suggest further downward momentum for IBIT.

Portfolio Pulse from Surbhi Jain

September 10, 2024 | 2:50 pm

Michael Saylor, Executive Chairman of MicroStrategy, discussed the impact of the 2024 election on Bitcoin prices, highlighting the pro-crypto stance of the Trump campaign. He noted that MicroStrategy's Bitcoin strategy has outperformed every S&P 500 company. Saylor predicts Bitcoin could account for 7% of global capital in 20 years, despite its current volatility.

Portfolio Pulse from Khyathi Dalal

September 10, 2024 | 2:10 pm

Bitcoin ETFs saw mixed inflows and outflows, with Fidelity's ETF gaining $28.59 million and Grayscale's losing $22.76 million. Bitcoin remains in bearish territory below $61,100. Ethereum ETFs continued outflows, led by Grayscale's $22.64 million outflow. Market uncertainty is high, with potential catalysts like the Harris-Trump debate and CPI data announcement.

Portfolio Pulse from Murtuza Merchant

September 10, 2024 | 1:28 pm

Nasdaq and S&P 500 futures dipped slightly as traders anticipate the presidential debate and upcoming inflation reports. Oracle's stock surged over 8% due to strong earnings and data center demand. Meanwhile, Apple and Alphabet faced setbacks from EU court rulings. Analysts note a shift from growth to value stocks amid weak economic data.

Portfolio Pulse from Shanthi Rexaline

September 10, 2024 | 11:05 am

Marathon Digital's CEO praised Agile Energy X, a subsidiary of Tokyo Electric Power Co., for using Bitcoin mining to manage renewable energy waste. This initiative involves mining Bitcoin using excess renewable energy, a practice also seen in Texas, USA.

Portfolio Pulse from Aniket Verma

September 10, 2024 | 9:41 am

Palantir Technologies Inc. and Dell Technologies Inc. are set to join the S&P 500 index, which typically boosts stock performance due to increased trading volume and liquidity. Both companies' leaders, Peter Thiel and Michael Dell, have shown interest in Bitcoin, with Thiel's Founders Fund making significant investments in the cryptocurrency.

Portfolio Pulse from Aniket Verma

September 10, 2024 | 8:17 am

A Federal Reserve survey highlights a disconnect between Bitcoin's market price and ownership, with ownership rates dropping despite price recovery. The survey raises concerns about the lasting impact of the 2022 crypto winter on investor sentiment.

Portfolio Pulse from Aniket Verma

September 10, 2024 | 7:26 am

Dogecoin surged over 6% after Elon Musk reminisced about his 'Dogefather' SNL skit, boosting trading volume by 52%. The rally was supported by Musk's humorous comments and broader cryptocurrency market recovery.

Portfolio Pulse from Aniket Verma

September 10, 2024 | 5:50 am

Economist Peter Schiff warns that Federal Reserve rate cuts won't prevent a U.S. recession, suggesting the economy is already in one. He predicts rising long-term rates, inflation, and unemployment, indicating a bleak economic outlook.

Portfolio Pulse from Benzinga Neuro

September 10, 2024 | 5:23 am

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