Tag Archives: CME GROUP INC

Bitcoin Plunges After Plans for Split Called Off

Bitcoin continued its retreat from a record high after traders weighed in on the cancellation of a technology upgrade that threatened to disrupt the biggest cryptocurrency. Investors who were expecting the extra coins stemming from a split of the chain may be taking profits, while others who are disappointed the update was scrapped earlier this week may be switching to alternative coins, according to Charlie Lee, founder of litecoin, the fifth-largest cryptocurrency by market value. While bitcoin soared to a record $7,882 within minutes of news that […]

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How to Make Money Off Bitcoin Without Actually Owning It

It’s the equity investor’s conundrum: how to get access to the skyrocketing returns of bitcoin and blockchain without actually owning the tokens. To Thomas Lee, a major bitcoin bull who heads research for Fundstrat Global Advisors, a dozen stocks should do the trick. “We believe investors should have exposure to blockchain, particularly given bitcoin has essentially zero correlation to equities, bonds and commodities —- hence, as a portfolio strategy, bitcoin is a good diversification tool,” Lee wrote in a note to clients Friday. “But this is impractical […]

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Why Arbitrage Traders Are Salivating Over Bitcoin Futures

The proverbial free lunch is just sitting there in the hours-old bitcoin futures market. So why isn’t it being gobbled up? Cboe Global Markets Inc.’s new contracts were priced as much as 13 percent higher than bitcoin itself since trading began Sunday night, according to data compiled by Bloomberg. That should have arbitrage traders salivating, especially among market makers starving after their — already successful and hugely profitable — efforts to make other similar assets trade in lockstep. Pity the poor S&P 500 arb living off spreads […]

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Bitcoin Soars Past $8,000

Bitcoin’s relentless and volatile rally shows no sign of abating, with the world’s largest cryptocurrency defying growing bubble fears to hit yet another milestone. Bitcoin rose as much as 7.7 percent to a record $8,290 as of 2:47 p.m. in New York. It’s been a tumultuous year for the virtual currency, with three separate slumps of more than 25 percent all giving way to subsequent rallies. Even the most bullish analysts can’t keep up with bitcoin’s rally. Standpoint Research’s Ronnie Moas, who says bitcoin’s market cap will […]

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