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Scott Reeves

Scott Reeves

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Articles by Scott Reeves

U.S.

Donald Trump: Bitcoin a ‘Scam, ‘ But ‘Competes Against the Dollar’: ‘Shrinkflation’ Raises Retail Costs

“In true Trump style, his words are contradictory, claiming that Bitcoin is both a ‘scam’ and yet it competes with the dollar,” Jason Deane, Bitcoin analyst at Quantum Economics, in London, told Newsweek.

10 min read

U.S.

Elon Musk’s Bitcoin Tweets Rile Crypto Faithful; Economists Struggle Comparing 2021 to 2020

Elon Musk’s recent comments about Bitcoin undercut the efforts of investors to establish it as an asset class, and could erode Musk’s standing as leader of his two major companies, Tesla and SpaceX.

8 min read

U.S.

Bitcoin Finds Investment Portfolio Niche; Crude Oil Reaches Pre-Pandemic Price

“It’s not about avoidance but rather portfolio construction based on an individual’s investment goals or situation,” Bill Herrmann, Co-Founder and Managing Partner at Wilshire Phoenix in New York told Newsweek.

9 min read

U.S.

Bitcoin Will Recover, But New Highs Unlikely; Retailers Eye Expansion

“Several on-chain and network indicators have reflected a bullish skew over the week [for Birtcoin], albeit most being relatively neutral for the short and medium-term,” Lennard Neo, a certified financial analyst and head of research at Stack Funds in Singapore, said in a research report.

7 min read

U.S.

Male Millennials Dominate Crypto Investing; Elon Musk Tweets Getting SEC Attention

Males outnumber females about 86% to 14% in the crypto market, while millennials, ages 25 to 35, make up 41.5% of Bitcoin investors. Meanwhile, Elon Musk keeps tweeting, and the SEC is taking notice.

7 min read

U.S.

Crypto Wobbles, with more ‘Puts’ than ‘Calls’; Dollar Ticking Down

Crypto prices have recovered from the lows, but investors remain cautious. Meanwhile, the dollar continued to tick down as traders assessed U.S. inflation, job growth and consumer spending amid the economic rebound from the COVID-19 lockdown.

9 min read

U.S.

NFTs Can Be Trojan Horse for Buyers; PC Sales Pandemic Surge Continues

“Copyright in NFTs is not automatically assigned,” Anita K. Sharma, an entertainment attorney and managing partner of Sharma Law in Brooklyn, New York, told Newsweek. “The buyer owns the tokens that are in their digital wallet, but not necessarily the artwork associated with the NFT.”

7 min read

U.S.

Crypto is Key to Ransomware; Biden Says Canada Unfair to U.S. Dairy Farmers

“We can live in a world with cryptocurrency or a world without ransomware, but we can’t have both,” said Lee Reiners, executive director of the Global Financial Markets Center at Duke University’s Law School in Durham, North Carolina. “It is time for the adults to tell the children: Party’s over.”

7 min read

U.S.

‘Extreme Fear’ on Bitcoin Fear and Greed Index, Housing Demand Surges

The Bitcoin fear and greed index registered “extreme fear” Wednesday—but that could be a buying opportunity for gutsy investors, especially as the timid have sold into a falling market.

8 min read

U.S.

Elon Musk Dons a Bitcoin Mining Hat, and Fed Downplays Inflation Risk

On the strength of two recent tweets from Elon Musk, Bitcoin Armageddon has been avoided—at least for now. And Federal Reserve Chairman Jerome Powell has predicted that any increase in inflation above the Fred’s 2% target will be “transitory.”

8 min read

U.S.

Bitcoin Losing Support as ‘Store of Value,’ Inflation Looms Over Recovery

The price of gold has risen as Bitcoin’s value has plunged, and the economic recovery from the pandemic is threatened by indications of impending inflation.

9 min read

U.S.

Fed and Treasury Look to Regulate Crypto, Semiconductor Shortage Hobbles U.S. Auto Industry

“Although cryptocurrency is a small share of current business transactions, such comprehensive reporting is necessary to minimize the incentives and opportunity to shift income out of the new information reporting regime,” the Treasury Department said in a report.

9 min read

U.S.

Bitcoin Goes from ‘Trendy to Tacky’ in Just Three Months, Analyst Says

Two events caused the drop in Bitcoin value: Elon Musk said Tesla would no longer accept Bitcoin as payment for its electric cars and the People’s Bank of China restated its ban on the use of cryptos for any type of payment.

9 min read

U.S.

Bitcoin Continues Swoon, Crypto Fear & Greed Index Reads ‘Extreme Fear’

Bitcoin continued its five-day retreat Wednesday, losing about 34% in May and tumbling below $40,000 in what could be the worst month since November 2018.

8 min read

U.S.

Following Elon Musk, Another Electric Car Maker Announces It Will Not Accept Bitcoin

Henrik Fisker, CEO of the Los Angeles-based company, said he will not invest in Bitcoin or accept the cryptocurrency as payment. He didn’t rule out future use of a cryptocurrency, but told CNBC that Bitcoin isn’t a “sustainable solution.”

6 min read

U.S.

Talk and Tweets from Elon Musk Send Bitcoin Value Reeling

The manic price swings underscore Bitcoin’s evolving—some might say immature —market, and raise questions about Musk’s seriousness as well as his understanding of market dynamics.

8 min read

U.S.

Aggressive Bitcoin Investors Look to Profit by ‘Buying the Dip’

Michael Saylor, CEO of Nasdaq-listed Microstrategy, said the company invested another $15 million in Bitcoin after Tesla CEO Elon Musk said Wednesday his company would no longer accept the cryptocurrency as payment for its electric cars.

8 min read

U.S.

Bitcoin Plummets as Elon Musk Reverses Course on Accepting the Crypto at Tesla

On Thursday, Bitcoin fell 28.59% below its record high after Elon Musk tweeted Tesla would no longer accept it to pay for its products, based on environmental concerns.

8 min read

U.S.

As Bitcoin Enters Market Mainstream, Regulation Appears Imminent

“It’s impossible for digital assets to go mainstream without clear regulation and sufficient safeguard,” Vytautas Zabulis, CEO ofH-Finance, a digital asset trading company based in Vilnius, Lithuania, said in a research report.

8 min read

U.S.

46 Million Americans Now Own Bitcoin, as Crypto Goes Mainstream

In a survey conducted by the New York Digital Investment Group (NYDIG), about 75% of the respondents said they wanted to learn more about Bitcoin annuities and Bitcoin life insurance.

7 min read

U.S.

Crypto Investors Turn to Ethereum as Alternative to Bitcoin

Ethereum, the world’s second largest cryptocurrency, soared to a record high Monday as investors placed their bets on the coin’s future in commerce and looked for an alternative to Bitcoin’s lofty valuation.

8 min read