Germany already lost out on $124M profit selling its Bitcoin

July 21, 2024 Coin Telegraph

Germany already lost out on 4M profit selling its Bitcoin

The State of Saxony, gripped by fears of a sudden Bitcoin price crash, hastily ordered the sale of its 50,000 BTC stash.

The German government recently missed out on an extra $124 million in Bitcoin (BTC) gains by cashing in its holdings a bit too soon.

On July 13, Germany’s Saxony state completed the sale of the 50,000 BTC stash it seized from movie piracy website, movie2k, generating around $2.87 billion. In doing so, they secured a profit of over $740 million when compared to their acquisition cost of $2.13 billion in January.

However, right after their sale, Bitcoin prices skyrocketed by up to 16.55%, driven higher by the assassination attempt on former United States president Donald Trump, which has since boosted his odds of a reelection in November.

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ECB Maintains Interest Rates Amid Persistent Inflation Concerns

July 18, 2024 Bitcoin.com

bitcoin.com

The European Central Bank (ECB) maintained its interest rates on Thursday, indicating that domestic price pressures and elevated inflation levels will persist into next year. After a recent rate cut, the ECB adopted a cautious stance, suggesting more evidence is needed before making another move. The ECB highlighted that while corporate profits are mitigating some […]

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Citi Analysts Predict 8 Weeks of Fed Rate Cuts Starting in September, Powell Seeks Evidence

July 9, 2024 Bitcoin.com

bitcoin.com

Analysts from Citi, the American multinational investment bank and financial services corporation, predict the U.S. Federal Reserve will begin reducing rates by September, totaling a 200 basis points (bps) cut over the next eight Federal Open Market Committee (FOMC) meetings. Nevertheless, Federal Reserve Chair Jerome Powell stated on Tuesday that additional progress is required before […]

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Former Fed President Discusses Potential for 2 Interest Rate Cuts This Year

June 24, 2024 Bitcoin.com

bitcoin.com

Former Boston Fed President Eric Rosengren has outlined the potential for two interest rate cuts this year. He cited recent Federal Open Market Committee (FOMC) discussions and stabilizing inflation trends. “I am expecting we’ll probably get some more favorable inflation numbers over the next couple of months,” he opined. ‘I Don’t Think We’re Down to […]

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Fed President Kashkari Finds Bank of America’s December Rate Cut Prediction Reasonable

June 17, 2024 Bitcoin.com

Bank of America

Minneapolis Federal Reserve President Neel Kashkari addressed Bank of America’s prediction for a potential Fed interest rate cut this year in an interview with CBS News on Sunday. Bank of America predicts that the Fed will cut rates once this year, likely in December. “I think that’s a reasonable prediction,” Kashkari said, noting that it […]

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Ryze Labs Weighs In: Fed’s Stance on Interest Rates and Its Impact on Market Dynamics

June 14, 2024 Bitcoin.com

Bitcoin

Following the release of lower-than-anticipated CPI data on June 12, U.S. equities climbed to record highs, with bitcoin exceeding $70,000. However, Ryze Labs, a venture capital firm investing in blockchain and Web3 projects worldwide, particularly in emerging markets, stated that the Federal Reserve’s hawkish dot plot forecast and subsequent comments by Chair Jerome Powell led […]

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Arthur Hayes Says Central Banks About To Catapult Bitcoin and Altcoins to New Heights – Here’s Why

June 9, 2024 The Daily Hodl

Altcoins

BitMEX co-founder Arthur Hayes says that a shift in policy from the central banks is about to boost crypto assets into a new bullish phase. In a new essay, Hayes, now the CIO of crypto investment fund Maelstrom, notes that both the Bank of Canada (BOC) and the European Central Bank (ECB) have decided to […]

The post Arthur Hayes Says Central Banks About To Catapult Bitcoin and Altcoins to New Heights – Here’s Why appeared first on The Daily Hodl.

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Uncertainty Over Fed Rate Cuts Intensifies With Sticky Inflation Metrics

April 13, 2024 Bitcoin.com

bitcoin.com

As each day unfolds, analysts, economists, Wall Street institutions, and Fed watchers have increasingly postponed their forecasts for when the U.S. Federal Reserve will reduce the benchmark interest rate. Current data suggest that a rate cut in June is unlikely, with odds standing at 50-50 for a reduction in July. Financial Analysts Question Timing of […]

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‘Big Short’ Investor Steve Eisman Predicts Fed Flips Hawkish in 2024, Says US Banks May Pay the Price

January 4, 2024 The Daily Hodl

Daily Hodl

“Big Short” investor Steve Eisman, who predicted the 2008 housing crisis, believes that the Fed will not cut rates this year as many expect. In a new interview on CNBC’s Fast Money, the Neuberger Berman senior portfolio manager says that major US banks could suffer if the Fed remains hawkish in 2024. “Let’s pick on […]

The post ‘Big Short’ Investor Steve Eisman Predicts Fed Flips Hawkish in 2024, Says US Banks May Pay the Price appeared first on The Daily Hodl.

rate cuts

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