Bitcoin was last down about 3.6% at $37,809. Musk tweeted "#Bitcoin" and a heartbreak emoji above a meme appearing to show a couple discussing their breakup. Bitcoin is up 6.3% this week.
Cryptos such as Bitcoin are a farce: Amundi CIO
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Last Updated: Jun 03, 2021, 09:14 PM IST
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LONDON: Cryptocurrencies such as bitcoin are a farce and a symptom of bubbles forming in financial markets, Amundi chief investment officer Pascal Blanque said on Thursday.
Bitcoin, trading at around $39,364, fell 35% last month after China doubled down on efforts to prevent speculative and financial risks by cracking down on mining and trading of the largest cryptocurrency.
Speaking at a news conference, Blanque described the crypto currency as a farce, adding that it was a symptom of the bubbles forming in markets. Bitcoin will be remembered for pushing central banks to adopt digital money, he said, adding that governments and regulators will ultimately stop the music.
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Closer home, the Centre may form a new panel of experts to study the possibility of regulating cryptocurrency in India. The Finance Ministry is also monitoring the growing volume of cryptocurrency trading in the country
BusinessToday.In | May 20, 2021 | Updated 13:02 IST
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It is such a tumultuous time for Bitcoin investors that if you are one, you are probably having nightmares. All the soaring and dipping of cryptocurrencies value has sent the investors in a tizzy. On Wednesday, Bitcoin dipped 30 per cent to $31,000, wiping out $500 billion from its peak market value. Ethereum was down 40 per cent and Dogecoin was down 45 per cent.