This week both Bitcoin and Ethereum surpassed new milestones. After surpassing the $11,000 mark this week, Bitcoin is now trading at $9,614. Nick Spanos, Founder of Bitcoin Center NYC and Ryan Vlastelica, Reporter at Marketwatch, break down their take on the cryptocurrency market.
Bitcoin has been extremely volatile to its inception, but this past year has seen a major move to the upside, says Vlastelica. While the IRS treats Bitcoin like a commodity, Vlastelica explains how this cryptocurrency is being legitimized by other financial markets. Big steps include introducing futures contracts tethered to cryptocurrency, a Bitcoin based ETF, and corporate use of blockchain.
Spanos launched Bitcoin Center NYC, a brick-and-mortar place dedicated to promoting Bitcoin, and says he doesn't think Bitcoin is in a bubble. He thinks Bitcoin still has a way to go upward, and only 21 million Bitcoin in the world will ever be released on Blockchain.
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Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Bristol Myers Squibb agreed to buy schizophrenia drug maker Karuna Therapeutics in a $14 billion deal.
Supermarket chain Ralphs is facing a new lawsuit from the state of California.
Shake Shack is giving out free fried chicken sandwiches, bacon cheese fries and milkshakes nationwide.
The IRS is announcing a voluntary disclosure program.
Lionsgate announced its studio division is going to spin off in a merger with Screaming Eagle Acquisition Corp., which is a special purpose acquisition company.
A new report suggests that it's getting more difficult for an average American to afford a home.
The Food and Drug Administration warned consumers about a copycat version of the diabetes drug Ozempic.
Tesla is reportedly moving forward with its plan to make energy shortage storage batteries in China.
