High-profile crypto bankruptcies and a hearty price crash are necessary evils to help the industry grow, while greater regulation is a must, according to Microstrategy co-founder Michael Saylor. In a Feb. 3 interview on CNBC’s Squawk on the Street, Saylor opined on potentia incoming United States crypto regulation after the bankruptcy of FTX, saying: “The crypto meltdown was painful in the short term, but it's necessary over the long term for the industry to grow up.” He added the industry “has some good ideas” — implying the Bitcoin (BTC) Lightning network — but added some in the space “implemented those …

The cryptocurrency community has ridiculed well-known Bitcoin (BTC) critic Charlie Munger for calling the United States to follow in the footsteps of China in banning crypto. In an op-ed article on The Wall Street Journal, the 99-year-old investment veteran has once again slammed crypto, calling a cryptocurrency a “gambling contract with a nearly 100% edge for the house.” Munger also said that a cryptocurrency is “not a currency, not a commodity, and not a security,” adding that “obviously” the U.S. should now enact a new federal law that would ban crypto. According to Munger, the best way to approach crypto …

A sharp rebound in the Polygon (MATIC) market in the last four months has increased its price by 200% when measured from its June 2022 bottom of $0.31. And now, the token is showing signs of undergoing another major market rally. MATIC exchange balance hits nine-month low Notably, the MATIC supply held by all crypto exchanges fell to 802.15 million on Oct. 26, its lowest level since January 2022. The plunge came as a part of a broader downtrend that has witnessed over 600 million MATIC leaving exchanges in the last four months, data on Santiment shows. A declining crypto …

Warren Buffett raised eyebrows this week when his firm, Berkshire Hathaway, upped its exposure to United States Treasury bills. If you’re one of the few remaining bulls out there, Buffett’s flight to safety is concerning because it signals that the Oracle of Omaha would rather get 3% yield instead of playing the stock market. If equities go belly-up in the fall, as I’ve been predicting for months, expect Bitcoin (BTC) to follow. Looking at the numbers, Berkshire’s T-bill exposure grew to $75 billion at the end of June, up from $58.5 billion at the beginning of 2022. But, even with …

Stablecoin issuers like Tether (USDT) and Circle have accumulated a significant share in the United States Treasury market, outperforming major traditional finance players. Various stablecoin providers collectively held $80 billion worth of short-term U.S. government debt as of May 2022, according to a study by the investment bank JPMorgan, The Financial Times reported on Aug. 20. Tether, Circle and other stablecoin firms accounted for 2% of the total market for the U.S. Treasury bills, holding a bigger share of T-bills than totally owned by Warren Buffett’s investment giant Berkshire Hathaway. Stablecoin issuers have also outperformed offshore money market funds (MMF) …

Charlie Munger, the ancient vice chairman of Berkshire Hathaway and Warren Buffet’s right hand man, has no issue with providing his honest thoughts on cryptocurrency: He hates it. Speaking at a shareholder’s Q&A session at the annual meeting for LA-based newspaper company, Daily Journal Corp, the 98-year-old investing icon likened crypto to a sexually transmitted disease. "I certainly didn't invest in crypto. I'm proud of the fact that I avoided it. It's like some venereal disease." Munger continued to express his contempt for Bitcoin and other cryptocurrencies, adding, “I wish it had been banned immediately… I admire the Chinese for …

Warren Buffett's Berkshire Hathaway dumped a portion of its Visa and Mastercard holdings and increased exposure in Nubank, the largest fintech bank in Brazil that's also popular among the country's Bitcoin investors. In a securities filing late Monday, the industrials conglomerate disclosed that it had purchased $1 billion worth of Nubank Class A stock in Q4/2021. On the other hand, it sold $1.8 billion and $1.3 billion worth of Visa and Mastercard stock, respectively, signaling a shift away from credit companies to gain exposure in their fintech rivals. Buffett, the so-called "Oracle of Omaha," is popular for his cautious approach …

As 97-year-old investment veteran Charlie Munger continues scolding cryptocurrencies like Bitcoin (BTC), the crypto community is quick to respond to his latest comments. The vice-chairman of Warren Buffett’s Berkshire Hathaway spoke of crypto at Australia's investor event, the Sohn Hearts and Minds conference, on Friday, reiterating his extreme skepticism to the industry, local news agency The Sydney Morning Herald reported. A known cryptocurrency naysayer, Munger has provided some fresh remarks on the crypto industry, arguing that the current crypto ecosystem is even crazier than the dot-com era overall. “I think the dot com boom was crazier in terms of valuations …

Bitcoin (BTC) has posted its highest transaction volume since early 2018 as data points to more and more investors entering the market. Figures from on-chain analytics resource Digital Assets Data highlights December 2020 as already sparking Bitcoin’s second-largest transaction volumes. BTC transaction volume eyes record At a total of $252.37 billion for the remaining 24 hours of December may yet take the tally further still as it rivals December 2017. Other indicators, such as the size of unprocessed transactions in Bitcoin’s mempool and network transaction fees, also suggest heightened activity overall. As Cointelegraph additionally reported, wallets containing both large and …