It's been a rough week for Bitcoin. The cryptocurrency dropped below $8,000 on Friday, marking the third biggest drop over a five-year span. Bitcoin developer Jimmy Songs explains why he remains bullish. "This is something that has happened in the past, and will happen in the future," says Song. "If you're looking out five to ten years this is an excellent investment." Shares of Bitcoin plummeted after India's Minister of Finance announced plans to ban the digital currency. "Not everyone is fit for it, especially during these down times," said Song.

Share:
More In Technology
Musk loses crown as world’s richest to software giant Larry Ellison
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
Book authors settle copyright lawsuit with AI company Anthropic
A group of book authors has reached a settlement with AI company Anthropic after suing for copyright infringement. A federal appeals court filing Tuesday said both sides have negotiated a proposed class settlement, with terms to be finalized next week. Anthropic declined to comment. A lawyer for the authors called it a "historic settlement." In June, a federal judge ruled that Anthropic didn't break the law by training its chatbot on copyrighted books. However, the company was still facing trial over acquiring those books from online "shadow libraries" of pirated copies.
Load More