JPMorgan Buys Bitcoin-Bullish WePay in ‘Rare’ Fintech Move
Unpredictable global banking giant JPMorgan has bought up payment network WePay in a “rare” fintech acquisition.
The move is aimed at JPMorgan’s four million business customers which it wants to be able to accept payments “faster,” Bloomberg reports.
The bank has made headlines several times over the past month after its CEO Jamie Dimon called Bitcoin a “fraud,” only to U-turn on his comments and “not talk about Bitcoin anymore.” At the same time, senior executive said the company was “open-minded” on cryptocurrency and Blockchain.
WePay has hinted at a markedly different stance, CEO Bill Clerico saying he was “bullish on Bitcoin” as far back as 2014.
Full story at http://bit.ly/2yIVFKt
Source: CoinTelegraph
Italian Auction House is First to Allow Bidding with Bitcoin
A Geo TV article originally covered the story: “ROME: Italian auction house Sant’Agostino said Wednesday bidders at its next sale will be able to settle up in bitcoin, a world first according to the auctioneers.”
The auction is slated to sell roughly 600 items, which include furniture and other household objects. All of the items can be purchased with bitcoin via the bidding process. Furthermore, the following Sant’Agostino auction — which will include bidding on jewelry, watches, and art pieces — will also accept bitcoin as part of the settlement process.
This means there could be a movement developing in this particular area of retail services, and spur more popularity for bitcoin and other cryptocurrencies.
Full story at http://bit.ly/2yIVIG9
Source: Bitcoin News
Cryptocurrency Just Hit A Major Milestone -- and Entrepreneurs Shouldn't Ignore It
If you haven't heard or paid attention to the phenomenum that is cryptocurrency, then it's time to take notice.
First, if it's still a foreign concept for you, cryptocurrency is any of a number of digital currencies that can be used for online transactions without intermediaries such as banks. Without banks, cryptocurrency can be traded and used for commerce between two or more people without the oversight -- and expense -- of those intermediaries.
The underlying power behind cryptocurrency is blockchain technology, which is as difficult to understand as it is to explain. There are certainly in-depth descriptions of how blockchains function available, but in general, each is built on a publicly distributed digital ledger aimed at ensuring the security and transparency of the transaction for all involved.
Cryptocurrency was first launched in 2009 as an experiment limited to a handful of adopters. However, It has grown into a legitimate and credible global currency and payment option, as countries like Singapore, India, China and Russia have moved to adopt their own digital versions of their currencies.
Full story at http://bit.ly/2yIP8iW
Source: Entrepreneur
Bitcoin Breather? Higher Price Push Still Possible on Search Demand
The price of bitcoin may have hit a new all-time high above $6,000 today, but it's already showing signs it may be primed to push higher.
At press time, the bitcoin-US dollar (BTC/USD) exchange rate was roughly $5,950, down slightly from the day's high, but up 9 percent on the week amidst what proved to be strong demand for bitcoin in the $5,000-to-$5,500 range.
Week-on-week, bitcoin is up 9 percent, while on a monthly basis, it is up a staggering 53.66%.
Looking ahead, however, at least two underlying trends suggest it may trace higher in the days or weeks ahead.
Full story at http://bit.ly/2yIP9n0
Source: CoinDesk
If you bought $100 of bitcoin 7 years ago
Full story at http://bit.ly/2yK94lx
Source: SydesJokes Blog
Big money stays away from booming bitcoin
LONDON (Reuters) - Bitcoin is booming, digital currency hedge funds are sprouting at the rate of two a week and the value of all cryptocurrencies has surged tenfold this year to more than $170 billion.
Yet for all the hype, mainstream institutional investors are steering clear of the nascent market, taking the view that it is too lightly regulated, too volatile and too illiquid to risk investing other people’s money in.
Bitcoin, the biggest and most well-known cryptocurrency, has outperformed all the world’s traditional currencies each year since 2011, except for 2014. But many investors still view it as an opaque, esoteric instrument used by gun-runners and drug-dealers on the Dark Web that should be avoided.
This year, though, a flood of new hedge funds focused on cryptocurrencies has offered institutional investors who might be unfamiliar with the market a potential route into the world of digital currencies.
Full story at http://reut.rs/2yKbiBE
Source: Reuters
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