Crypto News
Risk to Bitcoin Buying Plans Makes Strategy a Sell, Says Wall Street Analyst
Although Strategy’s (MSTR) aggressive buying of bitcoin (BTC) has sent its shares soaring over 2,500% over the past five years, one analyst argues that the reverse could soon be the case.“While we were negative on several respects upon initiation, we have gained incremental confidence that the convertible issuance strategy is likely tapped,” wrote Monness Crespi analyst Gus Gala, downgrading MSTR to sell just two weeks after initiating coverage at neutral.Strategy currently holds 528,185 BTC on its balance sheet and has been buying sizable quantities nearly every week for the past few months, mostly funded by common share issuance and also sales of its initial preferred series STRK.Gala's price target of $220 suggests just shy of 30% downside from the current...
Hot Air Rises Again as Fartcoin Outpaces Dogecoin in April Fool’s Meme Rebound
Fartcon’s price has hit the gas again, jumping 22% on the annual day for goofs and gags. It's outpacing Dogecoin and most other meme majors.Source link
UK Police Recover $671,000 in Stolen Crypto Under Proceeds of Crime Act
An attorney told Decrypt the act is an "innovative legal framework that streamlines the asset recovery process."Source link
U.S. Openness to Crypto Could Raise Risk Levels in TradFi, European Regulators Say
The U.S.' crypto-friendly stance could increase the level of risk in financial markets by deepening the connections between traditional finance (TradFi) and the digital asset economy, according to regulator the European Securities and Markets Authority."This crypto-friendly stance has the potential to accelerate crypto adoption, including by institutional investors," a spokesperson for the European Union's financial markets regulator said in an interview. "This would in turn increase interconnectedness and, failing relevant safeguards, risks of negative spillover effects between crypto and traditional markets."Since becoming president on Jan. 20, Donald Trump has ordered his administration to set up a bitcoin reserve and urged it to establish crypto friendly policies. The crypto market had already reacted positively to Trump's election victory in November, and...
XRP Price Analysis: Bulls Eye $2.20 Breakout Amid Choppy Action
The current trading environment for XRP reflects consolidation within a cautious downtrend, with prices anchored at $2.12 to $2.135 amid a 24-hour trading range of $2.07 to $2.19, underpinned by a $123 billion market cap and $4.18 billion in trading volume. XRP On the 1-hour chart, XRP displays choppy price action with a recent lowerSource link