Someone familiar with the situation stated that the cost was below the $250 million that was spent on acquiring the custody firm Metaco back in May.
The prominent NFT project is on the verge of parting with a significant portion of its treasury as disillusioned investors prepare to make their exit.
Michael Barr, the head of the central bank's regulatory division, emphasized that the Federal Reserve is currently in the preliminary research stage and would require official legislation from Congress to formalize any action.
So if the dollar loses value and Bitcoin does not, Bitcoin should be a safer asset class. But critics argue this narrative doesn't hold water. If Bitcoin were a good hedge against inflation, its price would be increasing right now. The trouble is that inflation rose 7% in 2021 -- faster than it's risen in 40 years -- and Bitcoin's price is falling.
There, nevertheless, are two convincing reasons why Bitcoins is a good buy today; first, it is currently trading more than 13% below its peak price, which means that there is plenty of room for upward growth - making it a good long-term buy.
You should invest in Bitcoin somewhere around 5% to 30% of your investment capital. I consider 5% to be very safe and 30% to be pretty risky. Personally, I sit most of the time between 15% and 50%. This is because I have a background in gambling (former professional poker player) and feel particularly comfortable losing money.
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