Bitcoin Surges to $86,455, an 8-Month High, After America's SEC Announces Tokenized Stock Experiment (yahoo.com)
- Reference: 0185745450
- News link: https://slashdot.org/story/26/09/23/0744202/bitcoin-surges-to-86455-an-8-month-high-after-americas-sec-announces-tokenized-stock-experiment
- Source link: https://finance.yahoo.com/markets/article/crypto-winter-is-over-analyst-says-as-bitcoin-tops-86000-chart-of-the-day-124006079.html
$62,991
September 23:
$86,456 Bitcoin shot up 37% over the last 39 days, reaching an eight-month high on Monday. "Bitcoin is back," [1]declares Yahoo Finance :
> The token held near $86,000 on Tuesday after a [2]stunning multisession rally ... [Fundstrat head of digital assets Sean Farrell told Yahoo Finance on Monday] "I think the crypto winter is over, although that does not necessarily mean the path higher will be linear." For now, momentum is on crypto's side, with bitcoin jumping more than 5% on Friday and another 6% on Monday. "We believe crypto is in the early innings of a new bull market and we see few signs of overheating," Compass Point analyst Ed Engel wrote on Tuesday.
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> The move looks "like a combination of renewed ETF demand and a large short squeeze," Nicolai Søndergaard, senior research analyst at Nansen, said as traders betting against bitcoin are forced to buy it back, adding further fuel to the rally.
Bitcoin got bad news and then good news last week. After the U.S. Congress [3]failed Thursday to pass a cryptocurrency 'Clarity Act', America's Securities and Exchange Commission instead announced a tokenized-stock experiment. It's a five-year "innovation exemption" that "creates a path for tokenized U.S. stocks to trade through automated market makers on public blockchain," [4]according to CoinDesk . Yahoo Finance [5]notes that Bitcoin and other altcoins surged after the announcement.
[1] https://finance.yahoo.com/markets/article/crypto-winter-is-over-analyst-says-as-bitcoin-tops-86000-chart-of-the-day-124006079.html
[2] https://finance.yahoo.com/markets/article/bitcoin-is-back-at-80000-as-rest-of-crypto-joins-the-rally-chart-of-the-day-115955499.html
[3] https://news.slashdot.org/story/26/09/16/0454223/americas-cryptocurrency-clarity-act-fails-spectacularly-despite-hundreds-of-millions-in-industry-lobbying
[4] https://www.coindesk.com/business/2026/09/20/coinbase-robinhood-circle-could-be-early-winners-of-sec-s-tokenized-stock-push-analysts-say
[5] https://finance.yahoo.com/markets/article/crypto-winter-is-over-analyst-says-as-bitcoin-tops-86000-chart-of-the-day-124006079.html
Re: (Score:3)
It was akin to playing the lottery. Who knew something that originally was worth pennies would balloon to $100k? I remember following Bitcoin early on when Gizmodo was still worth reading. Had I bought $100 worth back then and held onto it I wouldn't need to work. But of course you can't do a massive sell off or it craters the value. So you sell as needed.
Re: (Score:1)
that's not an answer to the question
just because the whole thing hasn't been rug pulled doesn't make it not a scam, particularly when it's been used for hundreds or thousands of smaller rug pulls, tends of thousands of ransomware hacks, thousands of phishing scams, hundreds of thousands of black market deals, billions in money laundering
amway is a scam, been around like 100 years. people love scams, doesn't make them not scams! [1]this is america, you can be proud you got rich off scams [youtube.com]
[1] https://www.youtube.com/watch?v=MVu428E9xrY
Re: (Score:2)
That's total, not YoY. Calculating since the first time BTC received serious attention in late 2013 to today's price, BTC gained 73.3x in 13 years, or 39% YoY average. Over the same 13 years, Nvidia went from a 2013 high of 0.41 to a high yesterday of 229.98, for a mind-blowing 561x gain, or 62% YoY. Admittedly Nvidia is unique in that regard, though we could come up with another handful in the 40x range. And if we want to bring the likes of Kalshi into the mix, you can find high double digit gains almost o
Re: (Score:3)
You got on the pyramid early. Is it hard to recognize it for what it is from up there?
Re: (Score:3)
Claims of infinite growth is definitely not a sign of a shady investment!
Bitcoin - victim of its own success (Score:2)
IMO, a major headwind facing the price of Bitcoin is that its advocates have already gotten so much of what they could have possibly hoped for. So many of the milestones that boosters viewed as the "next big thing" that would cause Bitcoin to really take off are past us: you can buy a Bitcoin ETF, big banks have entered the market, governments take it seriously, etc.
If you're buying into the Bitcoin market now, there's less to look forward to as a potential "gamechanger" that'll make the price jump, while
Re: (Score:2)
This is simple physics. The bigger the mass the more the attraction, and this can also increase the stability unless something unnatural happens (like every government deciding on the same day to introduce some heavy taxation). It takes longer for the price to change when it grows, as the involved masses will operate less in sync due to distances, timezones, etc.
Bitcoin is obsolete and should not be used (Score:4, Insightful)
There are plenty of useful alternative payment systems now making its use as currency redundant and Bitcoin was obsolete from day one because anyone can irreversibly steal your money if your private key gets leaked (of which it is very easy with AI-found security flaws in operating systems, see Coldcard and MTGox). You can't even get "rich" with Bitcoin anymore as all the "cheap" coins have been cashed out it lost in a landfill.
The only reason Bitcoin still exists is because people don't take real economics classes anymore and think they can generate "value" by "hodling". Same goes for all those stupid Pokemon cards where low wage retail workers get harassed by scalpers. Slashdot should have a topic ban on Bitcoin so we don't keep having the same "number go up" posts.
Re: (Score:2, Offtopic)
Bitcoin is also a great way for Trump to benefit.... and for Iran to do commerce outside the dollar system.
Re: Bitcoin is obsolete and should not be used (Score:2, Insightful)
Given our performance at the U. N., I think Iran will be free to bank in Europe. Perhaps most oil trade will soon be in Euros.
Re: (Score:2)
I wouldn't say it was obsolete from day one, but pointless from day one. There weren't any problems that it solved, nothing new it added (other than itself), and its stated purpose was ridiculous and doomed.
Re: (Score:2)
Well, scratch that, it did add something. The blockchain it's built on is a useful tracking mechanism. And that seems to be what the stock market wants to use it for - making and tracking stock transactions.
Why that would boost the value of bitcoin does not make much sense to me.
Re: (Score:1)
and yet 15 years on what are the prominent blockchain based tools being used in professional industry?
Re: (Score:2)
It didn't. Hash trees are nearly 50 years old. Bitcoin's novelty was proposing a 1) a practical proof of work system based on computing hashes 2) a distributed transaction system based on it where the users would perform the processing.
The proof of work system has proven to be enormously expensive and Bitcoin processing was quickly taken over by large organizations so it failed to achieve (2) as well.
The SEC thing the story is about has nothing to do with Bitcoin. It uses "smart contracts" which is an Ether
The Environment (Score:2)
Hear me out. When we get this kind of reporting on Bitcoin it leads to the the capitalist tragedy of the commons.
For the energy costs of bitcoin, it would be great to get updates on how much it is shifting us over the 1.5C target for global warming. Actual numbers. Something concrete we can tell our children... like where they are going to need to move in 20 years.
Now of course it is possible to fudge this kind of information. For example, if all bitcoin mining is moved to solar, it takes away solar for
Re: The Environment (Score:1)
Bitcoin is not having a notable impact on the environment. The overall consumption is barely enough to make a dent even if it were all mined using coal. Unless you think countries like Uruguay are the problem with climate change, then you shouldn't be pointing a finger at Bitcoin.
Re: (Score:1)
BTC mining moved to renewables a long time ago.
Tell me though, how much CO2 do all the diesel burning cash trucks (armored cars etc) produce?
Re: (Score:2)
By "some" you mean "most"
https://finance.yahoo.com/news/study-over-74-bitcoin-mining-180300738.html
To
Re: (Score:2)
Wait... did you think that "the tragedy of the commons" was a problem of Capitalism? It's a human nature problem that was already a well-known issue in Aristotle's time. You could even say it was a civilization problem, as it isn't faced by nomadic hunter-gatherers. As soon as a people settle down and create shared spaces, the problem arises.
Re: (Score:2)
> it isn't faced by nomadic hunter-gatherers
Hunter-gatherers are generally nomadic because of the tragedy of the commons. They show up, hunt and gather out the area they're in with no motivation to manage it sustainably, then move elsewhere to do the same thing again. Nomads don't "face" tragedy of the commons, they pack up and leave. It becomes a problem that needs to be solved for civilizations because they give up that option.
Good new for bitcoin? (Score:3)
I'm surprised the tokenized stocks thing is seen as good news for Bitcoin - that stuff will not be happening on the Bitcoin chain, so I'd have thought it would be more like good news for Bitcoin's competitors, smart contract platforms like Ethereum and Solana? Maybe it's being seen as good news for crypto as a whole, I guess.
Re: (Score:2)
Bitcoin booms and crashes on vibes and market manipulation. [1]https://en.wikipedia.org/wiki/... [wikipedia.org]
The big crypto bubble will pop eventually... and if it's allowed to get be commingled into other financial institutions it's going to hurt all of us.
[1] https://en.wikipedia.org/wiki/Cryptocurrency_bubble
This just in - Trump Grifts some more (Score:2)
President Donald Trump reported over $1.4 billion in income from cryptocurrency in just the FIRST YEAR of his second term.
So when congress doesn't bow down to the orange menace..... he just tells his appointed toadies to fuck up our economy even more with speculation. All to make him more cash.
This country is so fucked.
Re: (Score:3)
Almost all of that money came from overseas players to buy influence with him. It's a legal avenue for purchasing influence with the US president. A suitcase of cash is "bribery". But, a middle eastern leader can "invest" 500 million USD in TrumpCoin, which was designed to instantly crater in value, directly putting the cash into the pockets of Trump, his family, and his friend. Completely legal.
It amazes me that US society has decided to tolerate this sort of behavior. We chose this consciously and wit
It really pisses me off (Score:1)
That I would have to explain to anyone why it's a bad idea to integrate pretend money with no government backing and virtually no regulation that is primarily used for money laundering directly into our financial system...
I wish I could get the libertarian types to understand you can't not have government.
People are going to organize. They're going to form groups. Those groups are going to need a mechanism for making decisions. People are not going to be able to spend all day monitoring and processi
Re: (Score:2)
Not saying you are wrong, but isn't cash used almost exclusively for criminal activities as well?
All money is pretend at the end of the day. The only value that a dollar or a gold bar has is what other people are willing to trade for it.
Re: (Score:2)
> Not saying you are wrong, but isn't cash used almost exclusively for criminal activities as well?
The fuck is a coin-operated laundromat? A criminal enterprise now, simply because machines eat cash?
Every person caught with actual dollars on their persons, is at least committing a misdemeanor of a crime of suspicion?
Let's get a grip on the reality of the currency defended as fiat before you shove it into the same shady back alley where fine art likes to launder its self-worth through tax write-offs.
Re: It really pisses me off (Score:2)
Don't worry WW3 is going to break out soon and we'll all be dead.
Re: (Score:2)
Moreover, people are already organized. There are people organized into groups that specialize in making money. Groups that specialize in moving money around to make more money. Why on earth would anyone think that people with that expertise wouldn't immediately move in and use it to dominate a new currency market?
At best, crypto provided a path for new players to enter the finance industry. Which immediately put them under finance regulations.
Humans organize. They create social structures and thos
shakes head (Score:2)
Some people clearly still have too much money.