Ray Dalio, billionaire investor and founder of Bridgewater Associates, the world’s largest hedge fund, said that the more successful that bitcoin becomes, the more likely that it will get neutralized by governments and regulators supporting traditional monetary systems.

In an interview with CNBC on Wednesday, Dalio reiterated comments that he has made in the past, repeating that governments have the power to undercut the growth of the nascent cryptocurrency market, including bitcoin BTCUSD, -0.92% and Ether ETHUSD, 0.54% on the Ethereum blockchain, which may pose a threat to conventional finance and global central banks.

Dalio said that bitcoin may not “have intrinsic value” but said that it could still be useful in a diversified portfolio. The hedge-fund manager said that he thinks it’s worth considering all the alternatives to cash and all the alternatives to some of the financial assets…read more.

Block data from Blockchain.com reveals that a colossal Bitcoin (BTC) transaction worth $2 billion was processed on Monday night. Despite the enormous financial value, the unknown wallet holder only paid 0.00001713 BTC fees equivalent to $0.78.

Although it is unknown what the purpose of this transfer was, or indeed which individual or entity enacted it, what has clearly been showcased is the enormous potential of financial transactions utilizing cryptocurrency and blockchain technologies.

However, this is not the first instance of a transaction of this magnitude with minimal fees. Back in August 2020, a Bitcoin transaction worth $1 billion was recorded with a nominal fee of just $4…read more.

Crypto investors got a fresh injection of volatility on Monday, after Litecoin (LTC-USD) spiked — then quickly tanked — after news of a partnership with Walmart (WMT) was exposed as a hoax.

Litecoin rallied as high at 25% in under half an hour, after a fake announcement circulated early Monday that stated the U.S. retail giant would allow customers to pay in the digital currency. It spurred LTC up from $174 to a session high of $232 — before it came back to earth once Walmart knocked down the fake press release.

“As it pertains to Litecoin, the press release is not real,” a representative for Walmart said in a statement, which fabricated a quote from CEO Doug McMillon…read more.

Bitcoin (BTC) kept traders on their toes on Tuesday as a sudden price dip sparked a retest of $50,000.

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it shed $2,000 in two hours Tuesday.

The pair had hit $52,960 — nearly a four-month high — before consolidating and then heading lower.

The volatile conditions mark a memorable day for Bitcoin adoption, coming as El Salvador becomes the first country in history to adopt a partial “Bitcoin standard.”

For traders, the BTC price reversal, which at the time of writing had cooled at $50,500, was likely merely a technical event…read more.

Bankrupt car-rental firms and Bitcoin-to-the-moon bets are falling out of fashion, as the retail army plunges into the digital art world like never before.

Thanks to collectibles like Pudgy Penguins and the Bored Ape Yacht Club going viral on social media, sales of non-fungible tokens on the largest marketplace, OpenSea, jumped to $3 billion in August. That’s more than 10 times the tally in the prior month, and the exchange is now routinely the no. 1 user of computing power on the Ethereum network.

Day traders are going all-in on computer-generated avatars, leaving rival speculative trades like mainstream cryptocurrencies and meme stocks in the dust. Even as Bitcoin rebounds to $50,000, tell-tale signs of euphoria from leverage to collateral are far below the May peak. Meanwhile Wall Street data suggests the zeal among the Robinhood crowd for trading U.S. equities and options is easing…read more.