Bitcoin hits new record high. Bank of England Governor warns against stablecoins. Peter Schiff urges investors to sell BTC & buy silver, and, memecoin Pump.Fun raises $600 million in 12 minutes. Jane King with the latest from the NYSE.
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Here's a look at your Coin Street headlines.
Bitcoin hit a new all-time high above $122,000 over the weekend.
BTC price action is coming late 2024.
That could result in fresh 50% gains according to one trader.
It says late Bitcoin shorts are feeling the pain again.
The latest data from monitoring resource Coin Glass put short BTC.
Liquid at over 20 million in a single hour.
Well, Bank of England Governor Andrew Bailey issued a warning on Sunday against banks issuing stablecoins and said the BOE should adopt tokenized deposits instead.
Bailey said that stablecoins threaten the fabric of the financial system and could cause governments to lose control of their fiat currencies.
Well, Bitcoin critic Peter Schiff is calling Bitcoin a selling opportunity.
As it hits new highs, he says investors should buy silver instead.
Schiff posted on X that silver has more upside potential than Bitcoin and added that while BTC can easily crash, Silver's downside seems very limited.
One another sign of the ongoing popularity of mean coins, a platform that lets people create their own highly speculative tokens, raised $600 million within.
Minutes on Saturday, pumped up funds, so-called initial coin offering ranks among the largest ever.
The platform, which is based on the Salon blockchain, said in a July 9th post on X that it planned to sell 150 billion of its tokens and that it had already sold a block of 180 billion tokens at the same price to private investors, and that's the latest coin3 headline.