StockTwits CEO Says People Are Looking For the Next Bitcoin
The rise and fall of Bitcoin has everyone looking for answers for what’s behind the cryptocurrency’s massive fluctuations.
And StockTwits CEO Ian Rosen discussed what social media chatter is saying about the moves.
“People will come up with an incredibly wide range of theories as to what drives the price of Bitcoin,” he told Cheddar in an interview Friday. “A lot of the percentage of the coin is held by a relatively small amount of people, so they can affect the price of the coin a lot. But I don’t think there’s any real, systemic logic that anyone’s applied to this, to my knowledge.”
Rosen says the ubiquitous media coverage of Bitcoin has created a lot of enthusiasm and curiosity in the market. In fact, interest in the digital currency on his site ranked higher than that for Microsoft!
And now traders and investors are looking for the next opportunity.
In terms of sentiment, he says, “some of the largest cryptos...have gotten not bearish, but slightly less bullish. People are looking for the next Bitcoin, [whether it’s] Ripple, Litecoin, whatever.”
Bitcoin, which approached $20,000 last weekend, fell as low as $11,000 Friday morning before bouncing back to end the day.
Emily Peck, Axios reporter and co-author of Axios Markets, breaks down AI funding, Anthropic’s IPO and how the midterms could threaten data center investments.
Tim Luckow, Co-Founder and CEO of Notes.fm, discusses $10 million in missing music royalties, AI’s impact on artist payments and the future of music ownership.
Thomas DiFazio, ETF Strategist at Roundhill Investments, breaks down the Fed’s rate decision, inflation risks and what comes next for stocks and small-caps.
Abigail Buckwalter, President and CEO of Ocean Spray, discusses its “Bog Core” fashion collection, reaching Gen Z and reinventing an iconic cranberry brand.
Chris Yu, founder and president of ALSO, explains how the Rivian spin-off is reinventing electric bikes and developing new solutions for urban delivery.
Irene Solaiman, Hugging Face's Chief Policy Officer and SVP of Strategy, discusses open-source AI, model sharing, safety and the fight for transparency.
