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news-imageOctober 8, 2024

BlackRock Classifies Bitcoin as Gold Alternative, Ethereum as Tech Investment

BlackRock, a major investment firm, now views Bitcoin as a "gold alternative" for wealth protection and Ethereum as a "technology bet," signaling growing mainstream acceptance of cryptocurrencies in the financial world.
Publisher: Blockonomi
Sentiment: Positive
BTC
ETH

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Positive
cover-imageBenzinga
October 8, 2024

Jack Dorsey's Block Started Buying Bitcoins Four Years Ago: Here's How Much They Are Worth Today

Financial services company Block, Inc. (NYSE:SQ), co-founded by tech mogul Jack Dorsey, is well-known for holding a significant amount of Bitcoin (CRYPTO: BTC) on its balance sheet. What happened: Exactly four years ago on Oct. 7, 2020, the company, which also sells point-of-sale equipment to small businesses, acquired 4,709 BTCs for a total of $50 million, or $10,618 per unit.

Neutral
cover-imageBenzinga
October 8, 2024

Bitcoin Dips Below $63K: What Does Technical Analysis Say?

In his latest “Monday Markets” podcast, technical analyst CryptoCred offers insights into the current cryptocurrency market, focusing on Bitcoin's (CRYPTO: BTC) key levels and potential trading strategies for altcoins. What Happened: CryptoCred identifies $64,200 as a crucial resistance level for Bitcoin on the weekly timeframe, noting that it represents the highest close before a recent pullback.

Negative
cover-imageCrypto Economy
October 8, 2024

Bloomberg ETF Analyst Faces Criticism Over ‘Ethereum Shutdown' Remarks

TL;DR Eric Balchunas, Bloomberg's top ETF analyst, faced backlash for suggesting the U.S. government could shut down Ethereum by instructing AWS to turn off its cloud services, implying Ethereum is less secure than Bitcoin. The crypto community, including Ethereum educator Anthony Sassano and Consensys product manager Jimmy Ragosa, criticized Balchunas for spreading misinformation and propaganda.

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