Takeover of bitcoin creates new list of risks

Quick Summary:

NEW YORK: Bitcoin exchange-traded funds (ETFs) have been such a smashing success in the United States that they now hold more than one million of the tokens, or about 5% of what currently exists.

On paper, the Fed has plenty of gold – about US$690bil worth at current market prices – to sell to purchase a proposed quantity of bitcoin currently valued at almost US$100bil.

For now, however, as the market waits for Trump and a new Congress to arrive, there’s a honeymoon period in which it’s hard to find many investors who are bearish on bitcoin in the short term.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaAustraliaUnited States

Topics: Risk Government Trump Price Gold Sell Stockpile Market Bitcoin Been Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-03 @ 00:00:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 1155 words

Reading Time: 7 minutes read

Sentences: 34 lines

Sentence Length: 34 words per sentence (average)

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Copyright Owner: © The Star

News ID: 24069023

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