Browsing: bitcoin

The CFTC’s weekly report on CME Bitcoin futures positions from May 18 to May 24 showed that the total open interest increased slightly from 11,644 contracts to 11,729 contracts. Institutional long positions were 7,693 contracts, and short positions were 9,150 contracts. The ratio of long and short positions was 1:1.2. Institutional long and short positions were balanced, with a slight bias towards bearishness.

Large investors have 2,171 long positions, 682 short positions, and the ratio of long and short positions is 3.2:1, and large players are significantly bullish; retail investors have 1,072 long positions and 1,104 short positions, and the ratio of long and short positions is 1:1. The power of retail investors is balanced, slightly Biased to bearish.

Venture capitalist Tim Draper said in an interview that Bitcoin’s importance in the downside that cryptocurrencies and traditional markets are experiencing has to do with its inflation-hedging properties.

“I’m still bullish on bitcoin because it’s a good hedge against inflation, and it’s going to diverge from tech stocks as speculators leave,” he said. “I believe tech stocks will continue to fall as long as interest rates continue to rise.”

Draper sees Bitcoin as a hedge against inflation, a property that only appreciates in the long term. In addition, he said, Bitcoin offers a safe haven against poor governance and excessive regulation.

Alex Barrett of the NFL’s San Francisco 49ers is now paying 100% of his salary in Bitcoin. Barrett signed a deal with bitcoin payroll service provider Bitwage, which allows anyone to pay their wages in bitcoin.

Bitwage doesn’t require employers to get involved in their system to get paid in bitcoin, and it’s open to anyone. Barrett joins the ranks of professional athletes such as Matheus Nicolau, Achara Ifunanyachi and Alex Crognale who now accept bitcoin for their salaries.

Tokyo-based Japanese used car export company SBI Motor Japan has announced that it accepts XRP and Bitcoin as payment options.

Payments will be settled through SBI VC Trade, the cryptocurrency trading subsidiary of financial giant SBI Group. SBI Motor Japan is focused on doing business in the African region.

Brett Winton, director of research at Ark Invest, posted a tweet about old-school people not understanding Bitcoin miners. In response, Elon Musk posted a video about Dogecoin saying it “explains everything.”