Page 14 - Purpose Bitcoin News Today

Bitcoin, Ether, and Dogecoin are nosediving this week, but should Canadian investors who recently got in sell before the crypto crash worsens?

Bitcoin Collapses: Should Investors Buy the Dip? More on: Image source: Getty Images. Bitcoin took a serious tumble this morning, as the price of each token dropped 24% in a matter of hours. The cryptocurrency has now wiped off US$500 billion (CA$600 billion) in aggregate market value. This could have an impact on investors who hold cryptocurrency, Bitcoin mining stocks, and digital asset exchange-traded funds (ETFs).  It could also be an opportunity for new adopters and l...

Forget Bitcoin: Dogecoin, Ethereum, and Cardano Have Lower Mining Costs! Image source: Getty Images The cryptocurrency markets have taken a beating after Elon Musk tweeted about Bitcoin’s high mining costs. The price of one Bitcoin has fallen by 30% at the time of writing. Comparatively, Ethereum, which is the second-largest cryptocurrency in terms of market cap, is also down 25% from all-time highs. Musk had tweeted, “We are concerned about rapidly increasing use of fos...

After a lengthy court battle, the agency won the right to demand customer data from Coinsquare, a cryptocurrency exchange. As a result, 5-10% of the exchange’s largest Canadian customers will have their account data handed over to the CRA. And they won’t be the last to have the CRA scrutinizing their accounts. With this ruling, the precedent has been established that the CRA can pull data on Canadians’ crypto transactions — not just from Coinsquare, but from all exchanges. The result w...

The CRA can tax your gains from Bitcoin trading. But you can avoid this tax by investing in BTC smartly and in a tax-efficient way. 

Alternative Investment: What Are the Risks of Investing in Bitcoin? More on: Image source: Getty Images Bitcoin has suddenly come under the limelight. Some are criticizing it for the lack of regulation and the unprecedented growth. Warren Buffett even went ahead and called it a gambling device. But is Bitcoin a gamble or a form of investment? For this, you need to understand the nature of alternative investments. It is not every day you hear about alternative investments be...

Article content Not that long ago, cryptocurrencies were a curiosity, viewed with enthusiasm among a small group of early investors — and with a heavy dose of skepticism from the broader institutional investor community. All that has changed. In recent months, the coin that was largely traded among tech junkies has been embraced by big-name companies, financial institutions, and even auction house Sotheby’s, which held the first auction ever on Wednesday to accept cryptocurrency as pa...

Image source: Getty Images There are a lot of cryptocurrency stocks to buy now on the market. While at first it was mainly just Bitcoin, today you have a host of options. Yet this has caused many to wonder whether now is the time to get out, especially as cryptocurrencies such as Ethereum reached all-time highs. Ethereum recently passed the $5,000 mark and has since come down only slightly. But it has Canadian investors worried. Just like any new industry, it appears that th...

In a surprise development, Tesla CEO Elon Musk announced that the company was no longer accepting Bitcoin payments. The reason is that Bitcoin mining and transactions are not currently environmentally friendly. This news triggered the Bitcoin price to fall to below US$50,000. However, Musk noted that Tesla would be keeping the Bitcoin that’s on its balance sheet and suggested that Tesla intends to use Bitcoin for transactions as soon as mining transitions to more sustainable energy. He also ...

Looking for the adrenaline rush of investing in Bitcoin but without the bother of crypto-exchanges and digital wallets? An exchange-traded fund might do the trick, except an investor won’t find one tracking Bitcoin anywhere in the $6.2 trillion U.S. ETF universe -- at least not yet. While exchange-traded crypto-tracking products exist in Europe and a Bitcoin ETF opened in February in Canada, U.S. regulators have repeatedly batted down attempts to introduce them, citing concerns about potential...