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.
Microsoft's planned $69 billion purchase of video game company Activision Blizzard was blocked by a federal judge Tuesday, giving more time for an antitrust review of the deal.
Consumer prices in the United States cooled last month, rising just 0.1% from April to May and extending the past year's steady easing of inflation. At the same time, some measures of underlying price pressures remained high.
People are using apps more than ever to help manage and save their money, and it's hard to know which ones work best. We recently sat down with Insider financial correspondent Jennifer Streaks to help us break down some of the best apps out there right now.
Stocks rose Tuesday after a cooler reading on inflation cemented Wall Street’s bets for the Federal Reserve to hold off on hiking interest rates this week.
The Federal Trade Commission has sued to block Microsoft from completing its deal to buy video game company Activision Blizzard, the latest antitrust challenge to the proposed merger but one that could hasten its conclusion.
