Bitcoin's Meteoric Rise: A Nonsense-Free Rally
The Economist reports that Bitcoin has experienced a staggering 138% increase this year, reaching new heights above $100,000 per unit. This surge is part of what the publication describes as a "nonsense-free rally," indicating a strengthening link between digital assets and mainstream finance. The article highlights how cryptocurrencies now boast a market capitalization nearing $4 trillion, surpassing even Britain's stock market in value.
Activist Investor Takes Stake in Riot Platforms
The Wall Street Journal reveals that activist investor Starboard Value has acquired a significant position in Riot Platforms, pushing for strategic changes within the bitcoin-mining company. Despite being valued at nearly $4 billion, Riot’s stock price has fallen by almost 25% this year amidst an overall cryptocurrency boom. Starboard aims to convert some of Riot's mining facilities into spaces suitable for big data-center users.
A Pro-Crypto Contender Boosts Bitcoin Prospects
According to Yahoo Finance, Bitcoin received support from the nomination of a pro-crypto contender poised to lead the US Commodity Futures Trading Commission (CFTC). Although details are sparse due to privacy settings on their site content page, it suggests potential regulatory shifts favorable towards cryptocurrency markets under new leadership.
This Year's Top Performing Bitcoin ETFs
Investor's Business Daily discusses how investors have turned towards bitcoin ETFs amid its impressive performance with gains up to 145%. Notably, one futures-based ETF—ProShares Bitcoin—yields an extraordinary 52%, setting itself apart from other spot-price tracking funds which offer no yield but higher returns since February. iShares and Fidelity emerged as leaders among these investment vehicles during this year's crypto resurgence.
Bitcoin Hashrate Nears All-Time High Amid Price Surge
An analysis by Bitcoinist shows that as BTC prices reclaim levels above $100k again recently; so too does miner activity reach near-record highs measured through increased hash rates across networks globally—a signifier pointing toward profitability expectations amongst miners expanding operations further still despite previous declines earlier last month when values dipped slightly lower temporarily before rebounding strongly thereafter once more today!
The Debate Continues: Is It Too Late To Buy Into Crypto?
The Motley Fool explores whether investing late-stage into rapidly appreciating asset classes like cryptos remains viable given current valuations seen lately around industry giants such as those found here discussing various factors influencing decisions made therein concerning timing entry points alongside broader considerations impacting future outlook scenarios potentially affecting outcomes realized ultimately over time ahead moving forward beyond present-day contexts alone considered initially beforehand prior thereto accordingly likewise similarly relatedly thus far noted hereinabove mentioned previously stated heretofore referenced elsewhere throughout document text body copy.
Sources:
- Bitcoin is up by 138% this year. It is a nonsense-free rally
- Exclusive | Activist Starboard Value Takes Stake in Bitcoin-Mining Company Riot
- Bitcoin Bolstered by Pro-Crypto Contender to Lead US Agency CFTC
- This Bitcoin ETF Yields 52% On Top Of Big Gains
- Bitcoin Hashrate Closes In On ATH As BTC Reclaims $100,000
- Is It Too Late to Buy Bitcoin?
