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Posts published in “Currencies”

Bitcoin price soars after Tesla bets big on the cryptocurrency

Listen to this story Worshippers at the house of Bitcoin are likely looking to Elon Musk as a heaven-sent blessing today, as the price of the usually unstable cryptocurrency surged following a big Tesla announcement. On Tuesday morning, electric vehicle and clean energy company Tesla unveiled its annual report, and buried there, without any sort…

Leverage crypto traders lose over $US13 billion in 2020

Data from cryptocurrency trading simulator Crypto Parrot has found that cryptocurrency traders on Bitfinex and BitMEX lost $US13.47 billion in 2020. The data found that $US9.26 billion of long positions and $US4.21 billion of short positions were liquidated over 2020. Credit: Crypto ParrotCrypto shorting is a bet that the price of a certain crypto asset…

Will we see more Australian businesses transact with cryptocurrency?

Cryptocurrencies have had a rocky road towards mainstream acceptance. In 2017, the CEO of JP Morgan, Jamie Dimon, called bitcoin “a fraud”. However in 2019, JP Morgan became the first US bank to successfully test its own digital coin.   The growth of digital currency has enthralled investors. Bitcoin, the world’s largest cryptocurrency by market…