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ProShares Bitcoin Strategy ETF, which began trading late last month, was up 10.95% on Monday.
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Mr Rocket also cited some concerns over whether there is a "strong liquidity pool" or not.
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From the rise of meme stocks to the increasing mainstream adoption of crypto, Wall Street has embraced once-fringe areas of investing and finance.
Additionally, there are no standards to protect your business because authorities like the Financial Conduct Authority (FCA) do not regulate the cryptocurrency market. It could lose value and become useless if firms or consumers switch to a different cryptocurrency or stop utilizing digital currencies altogether.
Musk reaffirmed his belief that cryptocurrency has a “promising future” but that it “cannot come at great cost to the environment”, in his Twitter post.
But of course you'll want to be wary of another possible Squid Game fiasco, which reportedly scammed users of an estimated $3.38million.
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The U.S. firm shares a name with Binance Holdings Ltd., the world’s biggest crypto exchange -- and Changpeng Zhao, the CEO of Binance Holdings, is chairman of the board at Binance.US. Binance Holdings faces a U.S. Justice Department investigation into whether its platform has facilitated money laundering and tax evasion. Numerous countries have also announced probes and demanded that Binance curtail or amend operations within their borders.
The crypto community is witnessing impressive growth in the fourth quarter. With several altcoins rising out of the odds. Meanwhile, the dominance of the star crypto is at 41.4%. Numerous newer and lesser-known coins in the crypto industry are giving out impressive returns, leaving out top-tier coins behind the dust.
We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.
Investing is always a risk but investing in cryptocurrency is an even higher risk as they are VERY volatile.
He added: "You’re simply reliant on someone further down the line being willing to pay more than you did to turn a profit, which is a risky bet indeed."
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