Bitcoin slides to $81,000
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"Despite the broader risk-off sentiment, crypto markets demonstrated incredible resilience relative to equities," he said.
From CNBC
President Donald Trump is placing steep new tariffs on virtually all U.S. trading partners, stoking fears of rising prices for consumers and deepening trade wars.
From U.S. News & World Report
The S&P 500 fell 4.8%, while the Nasdaq fell 6% — both their worst since 2020.
From NBC News
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Monness Crespi Hardt’s new stock-price target implies more than 25% downside, as recent sales of securities to buy bitcoin haven’t gone very well.
The strategy is certainly unorthodox, particularly since MicroStrategy has no traditional earnings. But it offers a high dividend yield, a lot of asset coverage, and a better risk/reward than common stock.
GAG founder's new "MemeStrategy" firm will buy Bitcoin for reserves, jailed Bithumb CEO paid $3.5M in salary and bonuses. Asia Express
MicroStrategy has made headlines again with its latest acquisition of Bitcoin, 22,048 BTC under Michael Saylor, at an average of $86,969/BTC, for $1.92 billion.
As Michael Saylor posted today, “there are no tariffs on bitcoin.” Nevertheless, the bitcoin price is seeing red today alongside the massive sell-off in the stock market. While bitcoin’s fractional declines in the past 24 hours pale in comparison to stocks today,
This is an online version of our Markets A.M. newsletter by Spencer Jakab. Get investing insights in your inbox each weekday by signing up here—it’s free. 📧 It’s all fun and games until someone loses a billion.
Bitcoin fell late Wednesday after President Donald Trump’s latest tariff announcement roiled markets. The leading cryptocurrency recently changed hands a bit above $83,000, dropping from near $88,000 just before Trump unveiled the trade policies late this afternoon.
Bitcoin has been under pressure in recent months, declining over 20% since January. See why I rate BTC-USD a hold.