April 29, 2021

Bitcoin

Tesla Makes More Money Trading Bitcoin Than Selling Cars

After just months under the same roof, bitcoin and Tesla are becoming the best of friends.

That is one takeaway from the car company’s first-quarter results out on Monday. Revenue of $10.4 billion and adjusted earnings of 93 cents a share both topped Wall Street expectations. Net income reached $438 million, a quarterly record for the company. What’s more, Tesla said it expects to increase vehicle deliveries by more than 50% this year from the 2020 total. That implies roughly 800,000 deliveries this year.

Tesla didn’t exactly earn its record profit from selling cars, however. The company said that it

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‘Britcoin’ not bitcoin? UK considers new digital currency

British finance minister Rishi Sunak told the Bank of England on Monday to look at the case for a new “Britcoin”, or central bank-backed digital currency, aimed at tackling some of the challenges posed by cryptocurrencies such as bitcoin.

A BoE-backed digital version of sterling would potentially allow businesses and consumers to hold accounts directly with the bank and to sidestep others when making payments, upending the lenders’ role in the financial system.

“We’re launching a new taskforce between the Treasury and the Bank of England to coordinate exploratory work on a potential central bank digital currency (CBDC),” Sunak told

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Insurance giant AXA Switzerland now allows customers to pay premiums in bitcoin

Insurance giant AXA Switzerland now allows customers to pay premiums in bitcoin.

Announcing the news on Thursday, AXA Switzerland said the bitcoin payment option is available for all its non-life products. Life insurance products do not support the option for “regulatory reasons.”

“This is AXA’s response to growing demand from its customers for alternative payment solutions, with new technologies playing an ever-greater role,” said Claudia Bienentreu, head of open innovation at AXA Switzerland.

The company has partnered with Swiss crypto broker Bitcoin Suisse for the initiative, meaning bitcoin payments would go to Bitcoin Suisse and be converted into Swiss francs

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Jim Cramer says he sold some of his bitcoin and paid off a mortgage

CNBC’s Jim Cramer said Thursday he recently paid off a mortgage using profits from his investment in bitcoin.

Cramer said he bought “a lot of bitcoin” when the world’s biggest cryptocurrency was priced at around $12,000. He said he has now sold about half of his position.

“I paid off a mortgage yesterday with it,” Cramer told “Squawk on the Street.”

The price of bitcoin hit a record high above $64,000 per coin Wednesday. On Thursday, bitcoin traded around $63,000. Its price has risen more than 115% year to date.

“From the chart, I may be the only natural seller,

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From Barter to Bitcoin: The History of Money

Human transactions have come far since the Stone Age. The commodity trading of our ancestors eventually gave way to money, which in the past few thousand years has cycled through different forms, from wampum beads and metal to paper. In the 21st century, it often manifests as intangible electronic transfers and even cryptocurrencies. 

Money is one of humanity’s most momentous inventions. For millennia, it’s made the world go round, and that’s no new sentiment: As the Latin writer Publilius Syrus put it in the first century B.C., “Money alone sets all the world in motion.” But what is this shape-shifting

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China’s bitcoin crackdown contradicts Peter Thiel’s belief that it is a ‘financial weapon’ against U.S.

Billionaire venture capitalist Peter Thiel made waves Tuesday when he suggested that bitcoin could be thought of as “in part a Chinese financial weapon against the U.S.,” because, he argued, bitcoin undermines the U.S. dollar’s status as the world’s reserve currency.

“From China’s point of view, they don’t like the U.S. having this reserve currency because it gives the U.S. a lot of leverage over Iranian oil supplies and all sorts of things like that,” the PayPal
PYPL,
+0.86%
founder and Facebook
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board member said during a virtual event for the Richard Nixon Foundation. Bitcoin
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+3.46%,

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