Bitcoin extended its selloff Wednesday, with prices of the cryptocurrency falling below $10,000 on some exchanges. Bitcoin lost nearly half its value from its record high last month. James Altucher, Managing Director at Formula Capital, was with us to discuss whether we will see another rally in the market.
Altucher stresses that a year ago bitcoin was at $1,000. The reality is, people who are long-term believers have been winning and it's not too late for others, he says. The real opportunity is adoption by institutions, which he says is going to drive up prices significantly. Altucher says they are slow to get in on the trade because they aren’t sure how to regulate it.
The financial guru says 95% to 98% of cryptocurrencies are scams and will be wiped out. The real purpose of cryptocurrency is to solve problems created by a paper currency. He says start with bitcoin and ethereum, then do research to find the coins that solve a real problem.
Meta is under scrutiny for the way it has moderated reproductive health content. Women's health advocates say the social media giant has allowed male health content to flow more freely than content geared toward women and gender diversity.
Lynn Martin, president of the New York Stock Exchange, talks to Cheddar News about the bounceback of the IPO market, the future of artificial intelligence, and the strength NYSE continues to command in the world of investing.
TSG Entertainment, which helped Disney finance 'Avatar: The Way of Water' just filed a lawsuit against the House of Mouse, claiming it has withheld profits and used other methods to avoid paying what is due.
