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Bitcoin recovers losses after Musk's tweet; jumps 5.6% to trade above $49,000


Bitcoin recovers losses after Musk s tweet; jumps 5.6% to trade above $49,000
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Last Updated: May 16, 2021, 02:31 PM IST
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Bitcoin, the world s biggest and best-known cryptocurrency is up 77.9% from the year s low of $27,734 on Jan. 4, and down 24% from the year s high of $64,895.22 hit on April 14.
Reuters
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BENGALURU: Bitcoin rose 5.63 % to $49,337.72 on Sunday, adding $2,628.83 to its previous close.
Bitcoin, the world s biggest and best-known cryptocurrency is up 77.9% from the year s low of $27,734 on Jan. 4, and down 24% from the year s high of $64,895.22 hit on April 14.
Ether, the coin linked to the ethereum blockchain network, rose 6.1 % to $3,868.42 by 0800 GMT on Sunday, adding $222.41 to its previous close. ....

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Bitcoin rate falls 1.8% to $50,270


Bitcoin rate falls 1.8% to $50,270
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Last Updated: Apr 25, 2021, 10:19 AM IST
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Bitcoin and other cryptocurrencies suffered hefty losses on Friday amid fears that U.S. President Joe Biden s plan to raise capital gains taxes will curb investment in digital assets.
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But while social media lit up with posts about the plan hurting cryptocurrencies, and individual investors complaining about losses, some traders and analysts said declines are likely to be temporary.
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Bitcoin dropped 1.77% to $50,269.9 on Saturday, losing $906.75 from its previous close.
Bitcoin, the world s biggest and best-known cryptocurrency, is down 22.5% from the year s high of $64,895.22 on April 14.
Ether, the coin linked to the ethereum blockchain network, dropped/dipped 4.91 % to $2,253.41 on Saturday, losing $116.36 from its previous close. ....

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bitcoin price today: Bitcoin on your balance sheet? Here's what you need to know


LONDON/NEW YORK: Large companies from carmaker Tesla Inc to business intelligence firm MicroStrategy Inc have swapped billions of dollars in cash for bitcoin in recent months.
Yet hurdles remain for the quick dawn of a wider trend of major corporations holding bitcoin, from the cryptocurrency s volatility to reputational risk, financial chiefs and accountants told Reuters.
Here are some of the key questions over cryptocurrency bookkeeping and tax:
HOW DOES CRYPTO ACCOUNTING WORK?
The bookkeeping rules used by U.S. companies make no specific reference to cryptocurrencies such as bitcoin.
Under guidance from 2019 issued by the U.S. accounting trade body, companies account for bitcoin under rules for intangible assets such as intellectual property. ....

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