When 2023 began, a single bitcoin could be had for less than $17,000 after losing more than 75% of its value. Investors, however, began returning in large numbers this year as inflation started to cool. And the collapse of prominent tech-focused banks actually led more investors to turn to crypto as they bailed out of positions in Silicon Valley start-ups and other more risky bets.
Now, bitcoin is getting another boost on the prospects of creating a much larger pool of investors. Industry advocates say a new way to invest in bitcoin at spot prices, instead of futures, could make it easier for anyone to enter the cryptoverse while lowering some of the well-documented risks associated with investing in cryptocurrencies.
There’s rising optimism about the possibility of bitcoin exchange-traded funds — a pooled investment security that can be bought and sold like stocks — potentially being launched.
A green light from federal regulators hasn’t arrived yet, but recent wins for some crypto fund managers with applications for bitcoin spot ETFs have improved odds for approval, perhaps in the coming months.
This story is from the October 28, 2023 edition of Techlife News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 28, 2023 edition of Techlife News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
EUROPE'S CYBERSECURITY CHIEF SAYS DISRUPTIVE ATTACKS HAVE DOUBLED IN 2024, SEES RUSSIA BEHIND MANY
Disruptive digital attacks, many linked to Russian-backed groups, have doubled in the European Union in recent months and are also targeting election-related services, according to the EU's top cybersecurity official.
T-MOBILE TO BUY ALMOST ALL OF U.S CELLULAR IN DEAL WORTH $4.4 BILLION WITH DEBT
T-Mobile is buying U.S. Cellular's wireless operations and certain spectrum assets in a deal valued at $4.4 billion, and further consolidating the industry.
JUDGE WEIGHS PROPOSED CHANGES TO GOOGLE'S ANDROID APP STORE TO PREVENT ANTICOMPETITIVE TACTICS
Google is tried to confront the latest in a succession of legal attacks on its digital empire as federal judge began to address anticompetitive practices in the app market for smartphones powered by its Android software.
THE 'MAD MAX' SAGA TREADS (HARD-TO-FIND) WATER WITH FRUSTRATING 'FURIOSA'
At the beginning of \"Furiosa: A Mad Max Saga,\" we are introduced to a kick-ass woman who rides a horse, then a motorbike, nails a few bad guys with sharpshooting finesse and fights off a mob. But it's not Furiosa — it's her mom.
NORTH KOREAN ROCKET CARRYING ITS 2ND SPY SATELLITE EXPLODES SHORTLY AFTER LAUNCH
A rocket launched by North Korea to deploy the country's second spy satellite exploded shortly after liftoff Monday, state media reported, in a setback for leader Kim Jong Un's hopes to operate multiple satellites to better monitor the U.S. and South Korea.
NOT A GYM RAT? HERE'S HOW TO GET STARTED ON AN OUTDOOR EXERCISE ROUTINE
Between the sweat smell, fluorescent lights and omnipresent television screens, April Herring has never connected with going to the gym.
ARM OFFERS NEW DESIGNS, SOFTWARE FOR AI ON SMARTPHONES
Arm Holdings this week unveiled new chip blueprints and software tools to help smartphones handle artificial intelligence tasks, along with changes to how it delivers those blueprints that could help speed their adoption.
NVIDIA'S STOCK MARKET VALUE IS NEARLY $3 TRILLION. HOW IT ROSE TO AI PROMINENCE, BY THE NUMBERS
Nvidia's stock price has more than doubled this year as of the close of trading this week, increasing the company's market value by more than $1.3 trillion. Those numbers are headed higher again this week after the company reported better-than-expected quarterly results.
OPENAI SIGNS CONTENT DEALS WITH THE ATLANTIC AND VOX MEDIA
Sam Altman-led OpenAl said this week it has signed content and product partnerships with The Atlantic and Vox Media, helping the artificial intelligence firm to boost and train its products.
TOP APPLE EXEC ACKNOWLEDGES SHORTCOMINGS IN EFFORT TO BRING COMPETITION IN IPHONE APP PAYMENTS
Longtime Apple executive Phil Schiller last week acknowledged a court-ordered makeover of the U.S. payment system in its iPhone app store hasn't done much to increase competition a shortcoming that could result in a federal judge demanding more changes.