Bitcoin May Be a Better Investment Than Gold, Says DoubleLine CEO Jeffrey Gundlach

“Bond King” Jeffrey Gundlach has had a change of heart on bitcoin. Gundlach – CEO of DoubleLine Capital, an investment firm with more than $130 billion in assets under management – now says bitcoin could be a better bet than gold. Gundlach’s change of stance comes on the heels of bitcoin’s dizzying rise from $10,000 to $52,000 seen in the past 4.5-months. The cryptocurrency has charted a 10-fold rally in the past 11 months, offering a significantly higher return than gold amid the massive inflation-boosting monetary and fiscal stimulus delivered…

Joakim Book: No, Bitcoin Is Nothing Like the South Sea Bubble

Every asset that moves fast attracts the B-word.  But what the last few decades of research in finance has taught us is that it’s not so easy to spot financial bubbles, at least not until after they collapse. The very fact that we don’t have “successful” bubbles tells us that our definition of bubbles is backward-looking, excluding once-lofty assets that actually made it.  Joakim Book is a research fellow at the American Institute for Economic Research and a writer on all things money and financial history. He holds degrees in…

Eth 2.0 Makes the Ethereum Economy more “Sustainable.”

In this episode, Christine Kim and Will Foxley discuss with David Hoffman, the co-founder of Bankless, the market implications of a dual Ethereum blockchain and what new realities staking presents to the long-term value proposition of ether. According to Hoffman’s “Ether as a triple-point asset” thesis, Ethereum 2.0 bolsters ether’s value proposition as a capital asset. This is because Eth 2.0 enables staking on the protocol level. For all ether holders with a minimum balance of 32 ETH, they can earn an annual percentage return for locking in their crypto…

Market Wrap: Bitcoin Rallies On After Passing $50K Psychological Level to $52K

Bitcoin broke above $52,000 Wednesday, with a market capitalization nearing $1 trillion. Bitcoin (BTC) trading around $52,231.69 as of 21:00 UTC (4 p.m. ET). Gaining 7.16% over the previous 24 hours. Bitcoin’s 24-hour range: $48,430.80-$52,536.47 (CoinDesk 20) BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians. Bitcoin trading on Bitstamp since Feb. 15. Source: TradingView Bitcoin trading volume on major exchanges.Source: CoinDesk Bitcoin is in “uncharted territory,” said Hunain Naseer, senior editor at OKEx Insights, after its price surged to a…

Ethereum’s Favorite Lossless Lottery Will Airdrop Its POOL Token Today

The leader of lossless lotteries on Ethereum, PoolTogether, is airdropping a new token to all its users who have joined it for the ride so far: POOL. “I’m really excited about the potential for a consumer financial primitive rather than a financial financial primitive,” PoolTogether founder Leighton Cusack told CoinDesk in a phone call. “This is a much more approachable product to people and therefore I think the idea of user ownership becomes much more approachable too.” Launched in 2019, PoolTogether is a lottery where there is no risk. Users…

Goldman Sachs, JPMorgan, UBS Are Trading an ETP Tied to Polkadot’s Crypto

Traditional finance is going further down the crypto rabbit hole than you might think. Goldman Sachs, ICAP, JPMorgan, and UBS have bought the first exchange-traded product (ETP) that offers exposure to Polkadot’s DOT cryptocurrency for clients, according to Bloomberg terminal data reviewed by CoinDesk. These banks and brokerages purchased small amounts of shares in Switzerland-based 21Shares’ ETP, the data shows. The shares debuted Feb. 4 on the SIX Swiss Exchange at a price of $22-23 and have since climbed to $30. The purchases suggest institutional investors’ appetite for crypto exposure…