Tuesday, March 2, 2021
Only Bitcoin Market News
Advertisement
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
Only Bitcoin Market News
No Result
View All Result

Key financial-crisis regulator Sheila Bair says ‘stay away’ from bitcoin while it is

3 weeks ago
in investors
2 min read
Key financial-crisis regulator Sheila Bair says ‘stay away’ from bitcoin while it is
Share on FacebookShare on Twitter


Former Federal Deposit Insurance Corporation chair Sheila Bair warned investors of getting into bitcoin at its current record-high price. Bair, a key banking regulator during the height of the global financial crisis in 2008, said she does not have confidence in the cryptocurrency.

“Stay away from it,” she said on Wednesday in an interview with Bloomberg. “It’s volatile. It’s at nosebleed levels now. We don’t know how sustainable that is.”

Bair’s comments came before two big announcements on Thursday, as Mastercard announced it will allow merchants to accept select cryptocurrencies on Thursday and Bank of New York Mellon said that it will issue, hold, and transfer bitcoin for clients in the future.

The news of further participation from large institutions send the price of bitcoin soaring to an intraday record of $48,364.06.

“If you’re a very wealthy person with some money to risk, fine,” she added. “The problem with bitcoin is it is so volatile. So its original premise as a method of payment really, its volatility gets in the way of its usefulness.”

Bair did add that what she is more interested in is the “technology that underpins Bitcoin.” She is currently a board member of Paxos, a New York-based fintech company that specializes in blockchain, and Spring Labs, a tech company focused on building a blockchain-based network.

“Yes, [bitcoin] has risks but where there are risks, there are definitely also opportunities,” Julius de Kempenaer, senior technical analyst at StockCharts told Insider. “But for those who know what they are doing, have proper risk management in place, can handle the stress, and can afford the potential losses – give it a go.”

Others voice concern about bitcoin’s decentralized nature and lack of oversight. 

“The price of bitcoin is like a meme, it gets everyone excited,” said Mike Venuto, co-portfolio manager of the Amplify Transformational Data Sharing ETF, an approximately $808 million ETF that focuses on blockchain technologies and companies dealing with cryptocurrencies. 

“This excitement obscures the reality of the original bitcoin thesis of decentralization, replacing the trusted third party and banking the unbanked,” he said. “The focus now seems to be the store of value argument from the limited supply.”

The portfolio manager added that while the adoption of bitcoin as a store of value and as a means of the transaction has reignited interest in cryptocurrencies especially because of Elon Musk, he still doubts “we will ever buy coffee with bitcoin.”



Read more:Key financial-crisis regulator Sheila Bair says ‘stay away’ from bitcoin while it is

Related articles

NIO, Zoom Video, Bitcoin, Target and Kohl’s – 5 Things You Must Know Tuesday

NIO, Zoom Video, Bitcoin, Target and Kohl’s – 5 Things You Must Know Tuesday

March 2, 2021
Billionaire Bitcoin battle: Elon Musk praises crypto, Bill Gates warns investors to

Billionaire Bitcoin battle: Elon Musk praises crypto, Bill Gates warns investors to

March 2, 2021
Tags: BairBitcoinbitcoin news todayfinancialcrisiskeyRegulatorSheilaStay

Related Posts

NIO, Zoom Video, Bitcoin, Target and Kohl’s – 5 Things You Must Know Tuesday

NIO, Zoom Video, Bitcoin, Target and Kohl’s – 5 Things You Must Know Tuesday

by Bitcoin Market
March 2, 2021
0

Here are five things you must know for Tuesday, March 2:1. -- Stock Futures Fall After S&P 500 Posts...

Billionaire Bitcoin battle: Elon Musk praises crypto, Bill Gates warns investors to

Billionaire Bitcoin battle: Elon Musk praises crypto, Bill Gates warns investors to

by Bitcoin Market
March 2, 2021
0

Elon Musk has made an estimated $1 billion betting on Bitcoin, but Bill Gates warns that anyone with less...

Citi sees bitcoin as the ‘North Star’ for cryptos as adoption reaches tipping point

Citi sees bitcoin as the ‘North Star’ for cryptos as adoption reaches tipping point

by Bitcoin Market
March 1, 2021
0

Bitcoin has reached a “tipping point” that could see it either be adopted as the preferred currency for international...

Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay,

Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay,

by Bitcoin Market
March 1, 2021
0

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has begun investing in bitcoin. Having previously called the cryptocurrency “garbage,”...

Bitcoin’s appeal grows as more investment platforms facilitate dollar loans backed by

Bitcoin’s appeal grows as more investment platforms facilitate dollar loans backed by

by Bitcoin Market
February 28, 2021
0

More investment firms are giving bitcoin investors an extra avenue to raise cash from their digital assets by accepting...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

June 8, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

February 18, 2021
Bitcoin boom backstopped by central banks’ easy-money policies

Bitcoin boom backstopped by central banks’ easy-money policies

February 4, 2021
5 Cryptocurrency Staking Providers – A Review | Hacker Noon

5 Cryptocurrency Staking Providers – A Review | Hacker Noon

January 30, 2021
Bitcoin’s value falls by over 10% after hitting all-time high

Bitcoin’s value falls by over 10% after hitting all-time high

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
Bitcoin’s value falls by over 10% after hitting all-time high

Bitcoin’s value falls by over 10% after hitting all-time high

March 2, 2021
Legendary investor Jim Rogers warns of ‘bubble stocks,’ predicts a gold-and-silver

Legendary investor Jim Rogers warns of ‘bubble stocks,’ predicts a gold-and-silver

March 2, 2021
Bitcoin volatility rocks market for graphics cards in China

Bitcoin volatility rocks market for graphics cards in China

March 2, 2021
En route to $200K? Bitcoin closed February 26% above Stock-to-Flow model price

En route to $200K? Bitcoin closed February 26% above Stock-to-Flow model price

March 2, 2021
Cryptocurrency This Week: Weighing The Impact Of A Potential Ban, How To Tax Crypto &

Cryptocurrency This Week: Weighing The Impact Of A Potential Ban, How To Tax Crypto &

March 2, 2021
NIO, Zoom Video, Bitcoin, Target and Kohl’s – 5 Things You Must Know Tuesday

NIO, Zoom Video, Bitcoin, Target and Kohl’s – 5 Things You Must Know Tuesday

March 2, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • bitcoinBitcoin(BTC)$48,686.00-1.09%
  • bitcoin-cashBitcoin Cash(BCH)$534.956.69%
  • binance-coinBinance Coin(BNB)$246.60-3.81%
  • bitcoin-goldBitcoin Gold(BTG)$26.993.99%
  • bitcoin-privateBitcoin Private(BTCP)$0.50113.08%
  • blocktixBlocktix(TIX)$0.0200.00%