(Bloomberg) -- Bitcoin and most other top cryptocurrencies fell on Sunday on concerns that there may be a further crackdown on the industry in China and as a report from Goldman Sachs Group Inc. served as a reminder that institutional adoption may be a long process.

Bitcoin, Ether and the rest of the top 30 cryptocurrencies excluding stablecoins declined in the past 24 hours as of 1:40 p.m. in Hong Kong, according to pricing data from CoinGecko. Chinese social-media service Weibo suspended some crypto-related accounts -- when trying to view them, a message comes up that says the accounts have been reported for violations of laws, regulations or Weibo rules.

Weibo’s media relations officer didn’t immediately reply to an email request for comment on Sunday. The micro-blogging service took similar action in 2019 when it s ... Read more »

Category: News | Views: 264 | Added by: 4zvezda | Date: 06.06.2021 | Comments (0)

Ruffer has made a quick $1.1 billion with its short-term Bitcoin bet, according to a June 6 report by The Times.

The U.K. asset management firm claims that it dumped its entire holdings in April after selling off half of its position in February.

The trade was timely given that Bitcoin topped out at $64,854 on Apr. 14.

Part of the reason why Ruffer got out of the cryptocurrency is that it expects younger people to stop actively trading now that lockdowns are over.

As reported by U.Today, Ruffer initially announced its $600 million Bitcoin bet back in December.

If you have a multi-asset strategy then things that behave in different ways are really helpful. There’s no point being multi-asset if al ... Read more »

Category: News | Views: 232 | Added by: 4zvezda | Date: 06.06.2021 | Comments (0)