Though the price of Dogecoin (DOGE) surged over the weekend to surpass $0.06 again, this time another token based on a cuddly canine benefited from the hype around Elon Musk’s social media posts. In a Saturday tweet, the Tesla CEO said he would be getting a Shiba Inu dog for his household. The dog — whose breed is native to Japan — was at the center of the popular meme from which Dogecoin took its name in 2013. The doge meme features a Shiba Inu looking into the camera with a seemingly confused expression as floating text represents its inner …

Allocating capital to Bitcoin risks a backlash from environmentally conscious investors, according to author and co-anchor of CNBC's Squawk Box, Andrew Ross Sorkin. In a piece for the International New York Times, syndicated worldwide, Sorkin pointed to statements by Lawrence Fink, CEO of Black Rock — the largest asset managers in the world — indicating his company would make all future investment decisions based on “how they plan to meet the climate challenge.” Tesla’s $TSLA recent bet on bitcoin sullies its green credentials. Mining and transacting the cryptocurrency requires huge amounts of computing power and electricity, much of it from …

A former equities CIO of Goldman Sachs drew an strong response on Twitter after suggesting Tesla should sell its Bitcoin and buy back company shares. The price of TSLA shares have fallen 28% from $863.42 to $621.44, since news broke on Feb. 8 that Tesla had made a $1.5 billion BTC acquisition. MicroStrategy’s shares have fared even worse in the short term. The company, which is headed by Bitcoin bull Michael Saylor and just completed its latest acquisition of $15 million in BTC on Mar. 3, is now down 50% from its all-time high of $1,315 from Feb. 9. Tesla’s …

In hindsight, February can be viewed as a watershed moment in the history of Bitcoin. The entire month could be looked back upon by market specialists and economists, as the markets saw an enormous surge before correcting themselves later in the month. The flagship cryptocurrency asset, Bitcoin (BTC), hit its all-time high of $58,352 on Feb. 21 while finally breaking the $1 trillion mark in market capitalization. On the same day, the second-most prominent asset in the space, Ether (ETH), hit its all-time high of $2,033.08. In February, Bitcoin’s price was a bit of a rollercoaster, almost drawing a bell …

Updated 1:09 AM UTC: At the time of publication, SpaceX had not ruled out making one last attempt to launch the Starship SN10. It completed a successful launch and landing, but the Starship exploded shortly thereafter. Heavily pumped by Elon Musk’s tweets, Dogecoin may be the first cryptocurrency to literally reach the moon following an aborted launch of a SpaceX ship. The aerospace company attempted to launch its Starship SN10 vehicle today from SpaceX’s facility in Boca Chica, Texas. The final version of the spacecraft will reportedly be capable of reaching the moon after refueling in Earth orbit, but the …

Rumors of a possible investigation by the United States Securities and Exchange Commission into Tesla CEO Elon Musk's alleged impact on Dogecoin's (DOGE) price moves have been circulating on social media over the past day — a phenomenon that one Twitter user has quipped is "peak 2021." I hope they do! It would be awesome — Elon Musk (@elonmusk) February 25, 2021 Musk's previous showdowns with the SEC notwithstanding, the CEO appears to be unfazed about the possibility of an all-too-real legal fallout sparked by his penchant for the meme cryptocurrency. Musk's professed love for "dogs & memes" has spurred …

Tesla CEO Elon Musk has lost his crown as the world’s richest man following a sharp correction in Bitcoin (BTC) and a slump in his company’s stock that some analysts believe are correlated. Tesla stock (TSLA) has dropped 21% from its high of $890 on January 26, accelerating those losses over the past two days in a fall to $698. Shares of the electric vehicle maker dipped as much as 13% on Tuesday, the stock’s worst day since early September 2020. Fox Business has blamed this week's stock drop on the company’s association with Bitcoin, citing analyst Dan Ives of …

Bitcoin (BTC) will be the savings method of choice for 1 billion people on their phones by 2026, MicroStrategy CEO Michael Saylor predicted. In an interview with CNBC on Feb. 23, Saylor, whose company owns in excess of 70,000 BTC, continued his public Bitcoin advocacy, calling it "the dominant digital monetary network." Saylor: Billions will choose Bitcoin for savings Saylor was speaking a day after United States Treasury Secretary Janet Yellen described Bitcoin as "inefficient," comments that accompanied a price dip of over 20% from all-time highs of $58,300. For him, however, the comments were of little consequence compared with …

Microsoft founder Bill Gates has issued a warning to would-be Bitcoin (BTC) buyers looking to follow Elon Musk’s investment strategy. Speaking to Bloomberg’s Emily Chang, Gates suggested Musk had access to sophisticated trade management techniques that the average investor isn’t privy to. When asked about the susceptibility of Bitcoin to tumble in price in reaction to a mere tweet — undoubtedly a reference to Musk’s own social media posts — Gates said Musk was probably insulated from such market crashes: “Elon has tons of money and he’s very sophisticated so, you know, I don’t worry that his Bitcoin would randomly …

Amid a major downward correction in the cryptocurrency market, the head of South Korea’s central bank is skeptical about digital currencies like Bitcoin (BTC). Bank of Korea Governor Lee Ju-yeol said that crypto assets like Bitcoin have no intrinsic value, local news agency Yonhap reports Tuesday. The official said that he expects more price swings on the market, stating, “It is very difficult to predict the price, but its price will be extremely volatile.” Speaking at the National Assembly, Lee also addressed possible reasons behind the recent sharp crypto rally, which led Bitcoin to become a $1 trillion asset. The …

Tesla’s strategic embrace of Bitcoin (BTC) will have a dramatic impact on corporate adoption of the digital asset, according to Dan Ives of Wedbush Securities. In a Monday interview with CNBC, Ives said Tesla’s exposure to Bitcoin is “not just a fad,” but part of a long-term strategy that’s driven by an investment thesis and business thesis. “I think Tesla is going to double down on its Bitcoin investment,” he said. "No doubt this is something @elonmusk and @Tesla they're going to dive into the deep end of the pool on #bitcoin because they're not just doing it from an …

American electric car giant Tesla has seen some massive gains from its Bitcoin (BTC) investment, reportedly having made up to $1 billion in profit, according to a new report. An analyst at Wedbush Securities, a private investment firm in the United States, has calculated that Tesla has made “roughly $1 billion” in the aftermath of its $1.5 billion Bitcoin investment. Daniel Ives estimated Tesla’s Bitcoin profits in an investor note on Saturday, CNBC reports. Amid Bitcoin’s parabolic surge to become a $1 trillion asset, Ives said, “Tesla is on a trajectory to make more from its Bitcoin investments than profits …