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The cryptocurrencies that are worth investing in, from bitcoin to altcoins to meme coins

Actor <keyword id="19897962" type="General" weightage="100" keywordseo="Tamannaah-Bhatia" source="keywords">Tamannaah Bhatia</keyword>, who made waves with her recent cameo in Stree 2, is in the news again — but for a very unexpected reason this time. The actor was questioned by the <keyword id="19895344" type="General" weightage="20" keywordseo="Enforcement-Directorate" source="keywords" meta.keywordsubtype="org" meta.entityname="Enforcement Directorate" meta.hostid="261" meta.entityid="Enforcement Directorate">Enforcement Directorate</keyword> (ED) in Guwahati on Thursday in connection with a high-profile <keyword id="19899231" type="General" weightage="20" keywordseo="money-laundering" source="keywords">money laundering</keyword> case involving the ‘<keyword id="19984854" type="General" weightage="20" keywordseo="HPZ-Token" source="keywords">HPZ Token</keyword>’ mobile app, where several investors were allegedly duped on the pretext of <keyword id="23296351" type="General" weightage="20" keywordseo="cryptocurrency-mining" source="keywords">cryptocurrency mining</keyword>. The 34-year-old actor’s statement was recorded under the <keyword id="19912399" type="General" weightage="20" keywordseo="Prevention-of-Money-Laundering-Act" source="keywords">Prevention of Money Laundering Act</keyword> (PMLA), according to the Press Trust of India (PTI). Bhatia allegedly received payments for making a "<keyword id="23595308" type="General" weightage="20" keywordseo="celebrity-appearance" source="keywords">celebrity appearance</keyword>" at an event linked to the app, though there were no incriminating charges against her. Initially called for questioning earlier, she deferred the summons due to professional commitments but appeared on Thursday, as per PTI. The money laundering probe is tied to an FIR filed by the <keyword id="21156024" type="General" weightage="20" keywordseo="cyber-crimes-unit" source="keywords">cyber crimes unit</keyword> of Kohima Police, where several accused were booked under the Indian Penal Code and Information Technology Act. The app in question, 'HPZ Token,' was reportedly used to deceive investors by promising hefty returns on Bitcoin and other cryptocurrency mining. For an investment of ₹57,000, investors were promised returns of ₹4,000 per day for three months, but payments were halted after the first round, and fresh funds were solicited. The ED’s investigation uncovered 299 entities involved, including 76 Chinese-controlled entities, accused of creating "shell entities" to launder funds. The agency seized assets worth ₹455 crore following searches across the country. This case is part of a broader crackdown on fraudulent online schemes and <keyword id="20454123" type="General" weightage="20" keywordseo="illegal-betting" source="keywords">illegal betting</keyword> tied to cryptocurrency investments. (With inputs from sources)

Why is actor Tamannaah Bhatia being questioned by the ED for a money laundering case?

<ul class="summary-list"><li>The presidential election has the potential to reshape the investment landscape.</li><li>Detailed below is what Wall Street is saying about investing implications across multiple asset classes.</li></ul>With the presidential election just over a week away, and the candidates in a dead heat in the polls, Americans are in suspense about how their lives will change under a new leader.Business Insider has prepared a five-part refresher for the final stretch that will unpack the potential impact that both Donald Trump and Kamala Harris presidencies will have on US consumers. Today's first installment is focused on the investment landscape.To date, Trump and Harris have outlined specific policy proposals that will impact different parts of the stock market. Their varying platforms will also be crucial in determining the future path of interest rates, which will shape the bond market.But they're not expected to have diametrically opposed impacts on everything, with both candidates seen as positive forces for crypto.Detailed below is the latest research and commentary from top Wall Street strategists, outlining how the market and investing landscape will shift under potential Trump or Harris administrations.The guide covers four specific asset classes, and is divided between the Trump and Harris impact on each.<h2 id="40896f3b-9c3a-42aa-82ae-49a1761381ac">Stocks</h2>From the perspective of equities, it's helpful to look at the potential impact on both the micro (specific sectors set to be impacted) and the macro (how the broader market will respond).<h3 id="24c47698-0ee7-4a48-bb04-abe2a4f630c2">Trump</h3><h4 id="51cc4655-bf14-43bc-b772-b54703215a1c">Sectors</h4>Much of the industry guidance for the stock market under Trump boils down to his proposed tax policies. Bank of America says his plan to cut the corporate tax rate to 15% from 21% will boost corporate earnings by 4%. How much it impacts each sector ultimately depends on sensitivity to changes in the tax rate.To that end, BofA says the consumer discretionary and communication services sectors — the areas most beholden to tax-rate changes — will benefit the most. On the flip side, less exposed areas like utilities, real estate, and energy will get the smallest boost.For energy specifically, Trump's pro-drilling stance — while supportive of industry activity — will likely lead to oversupply and lower oil prices, says BNY Wealth. That, in turn, will hurt corporate profitability in the sector and drag on stock prices.It's also worth noting that energy was the worst-performing sector during Trump's previous presidential tenure.Financials is another area of the stock market seen benefiting from a Trump win. <a target="_blank" rel=" nofollow" class="" href="https://www.reuters.com/markets/us/if-trump-wins-he-plans-free-wall-street-burdensome-regulations-2024-04-12/">Allies of the former president have said</a> he aims to unburden banks from many of the regulations that were imposed following the 2008 financial crisis, something that his first administration tried to do with limited success.Those looser regulations could could also ignite a fresh wave of mergers and acquisitions, which would increase advisory revenue for big banks and help drive up profits from dealmaking.<h4 id="08ac2f7c-0094-48df-8910-ca3b12ae746a">Broader market</h4>Zooming out and assessing the full equity-market landscape, views are divided, particularly along partisan lines. Trump's proposed tax and regulatory policies are seen by his supporters as pro-business, which would be good news for corporate profit growth and deal activity.But Trump critics argue that his proposal for universal tariffs and steeper levies on Chinese imports — as well as a crackdown on immigration — will be inflationary, which could hold back stock prices. The nonpartisan Tax Foundation says the tariff plan in particular could <a target="_blank" class="" href="https://taxfoundation.org/blog/trump-mckinley-tariffs-great-depression/">hurt profit margins and put pressure on consumer spending</a>.Bank of America estimates that 60% tariffs on China and 10% on other countries would lower S&amp;P 500 earnings per share by 3.1%. That would be a problem since earnings growth has long been the stock market's primary driver of gains."The conventional wisdom is wrong: Trump is not going to substantially cut taxes once in office; he is going to raise taxes by jacking up tariffs. To the extent that this dampens economic activity, it is bad news for stocks," BCA Research chief strategist Peter Berezin said.<h3 id="fe116c39-7eef-494d-b923-93e68c7490b4">Harris</h3><h4 id="82c14dd6-d54a-4af0-a6d6-b171c6d4ccd1">Sectors</h4>Just like with Trump, much of the guidance around the stock market under Harris involves her tax plan. Her proposal to hike the corporate tax rate to 28% from 21% would have an inverse effect on sectors.That means consumer discretionary and communication services — the top beneficiaries under Trump — would be hit the hardest under a Harris regime, BofA says."Consumer discretionary stocks have underperformed the S&amp;P 500 modestly since Harris' presidential candidacy was announced, perhaps reflecting concerns that a Democratic President could result in higher corporate taxes and employee wages," BNY Wealth said.Financial firms will also feel a negative impact of both higher taxes and Harris' proposed regulatory tightening.But there are bright spots too. A Harris victory would likely benefit homebuilder stocks because of her proposal to build 3 million houses. Renewable-energy stocks should also see gains due to the favorable view of wind and solar energy by Democrats.Both sectors have outperformed in recent months during periods when Harris saw positive momentum in election polls.<h4 id="27decf30-ab8c-4ed1-beaf-70dfe2073247">Broader market</h4>The stock market <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-sp500-hits-another-record-high-q3-earnings-2024-10">has soared to records</a> during Joe Biden's presidency, up more than 50% since he was inaugurated, and a Kamala Harris win would likely be a continuation of many of the same policies that have been supportive of the market.Those include infrastructure investments and tax incentives to bring manufacturing jobs back to the country, like in the semiconductor industry via the CHIPS and Science Act.But BofA says Harris' proposed tax hike would also put downward pressure on corporate profits, which estimates a 5% earnings hit. Beyond that, a quadrupling of the stock buyback tax to 4% would also take 1% off S&amp;P 500 profits, the firm said.With all of these cross-currents swirling, a neutral market outcome must also be assessed.<h3 id="cefe8193-23a0-4521-8119-4d27dde3396d">A potentially muted impact</h3>Capital Economics believes neither a Trump nor Harris win will mean all that much for stock prices because bigger trends — specifically AI — will shape the market's direction."Our upbeat projections for the stock market in 2024 and 2025 are predicated on a view that hype over AI will continue to fuel a stock market bubble," the research firm said. Capital Economics has a 2025 year-end price target of 7,000 for the S&amp;P 500, regardless of which candidate wins the election.Meanwhile, Bank of America said that as long as corporate profits continue to grow, the stock market will <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-election-impact-outlook-harris-trump-energy-tesla-biden-2024-10">rise regardless of who wins</a> the White House.<h2 id="7a7d474f-4301-46c7-a48c-d475d0abd0a4">Bonds</h2>The performance of the US bond market largely hinges on the direction of interest rates.As interest rates rise, bond prices generally fall, and vice versa. And since presidential actions usually impact rates, the bond market will be shaped by what either Trump or Harris end up doing.<h3 id="aa298578-a5d5-4e0a-ab3b-fcb78a88d8dc">Trump</h3>A Trump win would is seen ushering in higher interest rates, which would push bond prices lower. It ultimately boils down to inflation.Economists see Trump's double-whammy proposals of mass deportation and universal tariffs as inflationary. And since the Federal Reserve's primary tool for fighting inflation is raising interest rates, bond prices would suffer as yields rise."Our assessment is that a Trump win would lead to higher US yields," Capital Economics said.Estimates from the <a target="_blank" class="" href="https://www.crfb.org/papers/fiscal-impact-harris-and-trump-campaign-plans">Committee for a Responsible Federal Budget</a> — a non-profit think tank — say a wider deficit and an increasing pile of debt under a Trump presidency, compared to a Harris presidency, would also put upward pressure on interest rates. That would also hurt the performance of bonds.<h3 id="c267d16e-6b3a-4db4-8316-c599ab723494">Harris</h3>Capital Economics said it expects interest rates to fall under a Harris win, which would be good news for bonds, as she wouldn't pursue certain inflationary policies like tariffs or immigration deportations, which could fuel wage inflation.Harris' policies, considered to be less inflationary than Trump's, would also allow the Federal Reserve to continue on their path of cutting interest rates, which would boost bond prices.A Bloomberg survey of institutional investors last month found that 30% of investors would add to their bond exposure if Harris wins, while just 17% said they would buy more bonds if Trump wins.Additionally, 46% of respondents said they would reduce their bond exposure if Trump wins, compared to just 23% under a Harris win.<h2 id="648d1263-465a-44c9-b50e-97ea3cd444a7">Crypto</h2><h3 id="77a393b0-f8c1-49d8-b73b-e2f0119e53e1">Trump</h3>A Trump win is seen as bullish for bitcoin and the broader cryptocurrency industry, as former President Donald Trump has <a target="_blank" class="" href="https://www.businessinsider.com/trump-bitcoin-stance-2024-7?utm_medium=ingest&amp;utm_source=markets">firmly embraced digital assets</a> in recent years.According to Bernstein analyst Gautam Chhugani, <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-90000-target-if-trump-wins-november-election-2024-9">bitcoin could hit $90,000 by December</a> if Trump wins the election, representing potential upside of about 37% from current levels."Elections remain hard to call, but if you are long crypto here, you are likely taking a Trump trade," Chhugani said.<h3 id="58f9bbfb-d544-465f-8607-1b699202db17">Harris</h3>Harris <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-donald-trump-crypto-bitcoin-donors-young-men-2024-9">has also embraced the crypto industry</a> in recent months, though she's seen as slightly less bullish compared to Trump, given his public displays of support, including addressing crypto conferences and <a target="_blank" class="" href="https://www.businessinsider.com/trump-nfts-digital-cards-mahattan-trial-2024-5">launching his own NFTs</a>.Yet, Wall Street seems to think that a big case for bitcoin will remain intact no matter who wins. The US government debt pile is expected grow regardless of who controls the White House. That scenario is among bitcoin's biggest bull theses."I'm not sure if either President or other candidate would make a difference. I do believe the utilization of digital assets is going to become more and more of a reality worldwide," BlackRock CEO Larry Fink said during the company's third-quarter earnings call.<h2 id="bb5f6b7e-fd9d-459b-a7dd-22eebbb1993b">US dollar</h2><h3 id="0ae89f53-6e41-467c-8f2a-8aa885fcaf18">Trump</h3>Trump's tax plan and protectionist trade policies are expected to strengthen the dollar. It's <a target="_blank" class="" href="https://www.businessinsider.com/us-dollar-trump-presidential-election-weaker-usd-policy-intervention-trillions-2024-7">the opposite</a> of what the presidential hopeful has said he wants, since a weaker currency makes a nation's exports more competitive in global trade.These policies are expected to be inflationary, which would push interest rates higher and possibly prompt the Fed to tighten. Those climbing rates would then underpin dollar gains."Should he re-take the White House ... the dollar would probably rally sharply, at least in the near term, on expectations of higher US tariffs and interest rates," Capital Economics said in recent research.<h3 id="e5ae53de-b9c3-4069-a7a1-5fc244dc29c6">Harris</h3>A Harris presidency would continue the trends of a weaker dollar due to "policy continuity" of the Biden administration, Capital Economics said.Since Harris' overall platform is less expansionary, it's expected to drive less inflationary pressure, and therefore keep the coast clear for the Fed to cut rates and stimulate the economy as currently planned.That likelihood of lower interest would, in turn, push the dollar lower.

How a Trump or Harris presidency could impact your investments

<ul class="summary-list"><li>A London-based millennial sold $30,000 of his cryptocurrency investments in 2021 to buy an apartment.</li><li>He shared the top investment strategies he's used since he began investing in 2017.</li></ul>When Bill first heard about <a target="_blank" href="https://www.businessinsider.com/crypto-market-cap-bubble-peak-bitcoin-ethereum-solana-2024-4">cryptocurrency</a> in 2012, he said he made an unsuccessful attempt at getting into <a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-rally-crypto-miner-revenue-record-halving-etfs-supply-2024-3">bitcoin mining</a>.It wasn't until 2017 that the London-based millennial began investing in crypto tokens, he told Business Insider via email."I was really interested in <a target="_blank" href="https://markets.businessinsider.com/currencies/xrp-usd">Ripple</a> and decided to invest," said Bill, whose identity is known to BI but has been withheld because of his fear of professional repercussions. "I then bought <a target="_blank" href="https://markets.businessinsider.com/currencies/xlm-usd">Stellar</a>, <a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> and <a target="_blank" href="https://markets.businessinsider.com/currencies/eth-usd">Ethereum</a>."Bill said most of his investment gains came from Ripple and Stellar. Between December 2020 and April 2021, when the prices of both tokens were near their recent peaks of about <a target="_blank" href="https://finance.yahoo.com/quote/XRP-USD/chart?nn=1#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">$1.60</a> and <a target="_blank" href="https://finance.yahoo.com/quote/XLM-USD/">$0.54</a>, respectively, he started cashing out. Bill sold roughly $30,000 (or €28,000) worth of Ripple and Stellar, according to documents viewed by BI. He estimated that he invested between $6,000 and $7,000 in these tokens and that his average return across the sales was over 300%.Last year, shortly after turning 30, he said he put these proceeds toward the purchase of a $350,000 (or £280,000) apartment in London.Bill is among the millions of people across the world who have invested in cryptocurrencies. While <a target="_blank" href="https://www.lendingtree.com/debt-consolidation/crypto-investors-survey/#:~:text=A%20higher%20percentage%20of%20cryptocurrency,13%25%20say%20they%20broke%20even.">some</a> of these investors <a target="_blank" href="https://www.businessinsider.com/personal-finance/lost-life-savings-voyager-bankruptcy-crypto-crash-2022-7">lost money</a> — particularly when <a target="_blank" href="https://www.businessinsider.com/why-it-was-a-chaotic-year-for-crypto-2022-12">token values plunged in 2022</a> — others have benefited from a surge in crypto prices in recent months.In February, the total value of the cryptocurrency market <a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-crypto-market-cap-trillion-eth-investors-etf-2024-2?utm_medium=ingest&amp;utm_source=markets">reached $2 trillion</a> for the first time since April 2022. In March, the price of bitcoin <a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-explained-cryptocurrency-record-high-interest-rates-fed-2024-3">hit $66,000</a> for the first time in nearly three years and reached a record high of <a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-73000-new-record-high-etf-demand-btc-price-2024-3">over $73,000</a>. While bitcoin is now trading <a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">around $70,000</a>, it remains well above the roughly $16,000 it plummeted to in November 2022. The prices of some other tokens, including <a target="_blank" href="https://markets.businessinsider.com/currencies/eth-usd">Ethereum</a> and <a target="_blank" href="https://markets.businessinsider.com/currencies/sol-usd">Solana</a>, have also risen considerably over the past year.Experts have pointed to the <a target="_blank" href="https://www.businessinsider.com/bitcoin-price-record-impact-interest-rate-cuts-federal-reserve-outlook-2024-3">prospect of lower interest rates</a>, growing demand for <a target="_blank" href="https://markets.businessinsider.com/news/currencies/spot-bitcoin-etfs-btc-crypto-funds-gbtc-ibit-fbtc-ownership-2024-2">bitcoin ETFs</a>, and the upcoming <a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-crypto-halving-blockchain-finance-markets-eth-btc-2023-8?utm_medium=ingest&amp;utm_source=markets">bitcoin halving event</a> — when the number of bitcoin tokens rewarded to miners will be cut in half — as explanations for the crypto market's strong performance in recent months.While some crypto investors are likely to bet on <a target="_blank" href="https://markets.businessinsider.com/news/stocks/bitcoin-to-hit-150k-analysts-bank-on-record-rally-to-predict-target-for-2025-1033154745">prices rising even more</a>, others, like Bill, might start selling some of their proceeds. This could be <a target="_blank" href="https://www.forbes.com/sites/digital-assets/2024/03/15/bitcoin-falls-back-after-reaching-latest-all-time-high-above-73000/?sh=142705c250a0">among the reasons</a> the price of bitcoin has fallen from its March peak.<h2>Targeting certain tokens and investing over time proved to be a good strategy</h2>Bill, who works as an M&amp;A professional, said the first step in his crypto-investing strategy was to buy tokens he believed in. He said these tended to be <a target="_blank" href="https://www.businessinsider.com/personal-finance/what-is-altcoin">utility tokens</a> like <a target="_blank" href="https://www.ccn.com/analysis/ripple-utility-european-governance-institute-xrp-major-downtrend/">Ripple</a> and <a target="_blank" href="https://crypto.com/university/top-crypto-utility-tokens-2023">Ethereum</a>, which are created — <a target="_blank" href="https://www.sofi.com/learn/content/what-is-a-utility-token/">rather than mined</a> — and typically <a target="_blank" href="https://crypto.com/university/crypto-tokens-vs-coins-difference">provide access</a> to services or products within a blockchain ecosystem. They're distinct from <a target="_blank" href="https://www.investopedia.com/terms/s/security-token.asp">security tokens</a>, which effectively function as investment assets like stocks.He said he tried to make his investments when prices were falling and then deployed a <a target="_blank" href="https://www.businessinsider.com/personal-finance/dollar-cost-averaging">dollar-cost averaging</a> approach, which involved making a series of investments over time in the hopes of decreasing the average cost of his investment.When prices rose to what Bill thought were their near-term peaks — and he'd made a good return on his investment — he started selling his tokens in batches over a given period of time."I tend to do a first sale to cover my investment and then do a few more transactions until I fully exited the position," he said. "I mostly look at the market sentiment and charts to ascertain where we are in the cycle."While he's had some success as a crypto investor, Bill doesn't consider himself an expert."I simply follow this strategy which is highly based on the belief that the markets will go up long-term, and the tokens that I believe in won't lose value," he said.To be sure, an investor is <a target="_blank" href="https://www.businessinsider.com/personal-finance/safe-investments">never guaranteed</a> positive returns, whether they're investing in cryptocurrency or another asset like stocks. The crypto market has been <a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-crypto-trading-volatility-investors-etf-btc-cryptocurrency-2024-2">particularly volatile</a> in recent years, which can come with <a target="_blank" href="https://www.businessinsider.com/personal-finance/bounce-back-crypto-crash-losses-build-wealth-2022-7">significant risks</a> for investors.Going forward, Bill said he's not rushing to invest more in the crypto market. Between 2022 and this past February, he said he sold roughly 95% of his investments, though he reinvested about $15,000 of the proceeds.For now, Bill said he's waiting for crypto prices to fall or for an attractive investment opportunity to arise. In the meantime, he said he's turning his attention to a <a target="_blank" href="https://privateequitybro.com/">side hustle</a> he hopes will provide an additional income stream."I sold pretty much everything," he said of his crypto investments. "I am not buying anymore now though, so just waiting."Have you sold some of your cryptocurrency investments and spent the proceeds? Are you willing to share your story? If so, reach out to this reporter at <a target="_blank" href="mailto:jzinkula@insider.com">jzinkula@insider.com</a>.

A London millennial who turned about $6,000 into $30,000 through cryptocurrency investing shares his top investment tips

<ul class="summary-list"><li>The bitcoin ETF boom is the cryptocurrency's "IPO moment," Bitwise CIO Matt Hougan said.</li><li>"It's in a new era of price discovery, and I think prices could go substantially higher from here."</li></ul>Since the start of 2024, the spot bitcoin ETF hype has driven the cryptocurrency up 40%, and the latest rally back toward all-time highs could be a watershed moment for the crypto, according to Bitwise CIO Matt Hougan. "This has been bitcoin's IPO moment," <a href="https://www.youtube.com/watch?v=VmmrLxfdHxk" target="_blank" rel="noopener">Hougan said on CNBC</a>. "It's in a new era of price discovery, and I think prices could go substantially higher from here."Bitwise has its own bitcoin ETF that was one of nearly a dozen approved by the Securities and Exchange Commission at the beginning of January. <a href="https://finance.yahoo.com/quote/BTC-USD/history/">Bitcoin</a> is trading around $63,000 on Thursday, edging closer back to all-time highs of $69,000. On Monday, technical analyst Katie Stockton said the currency still has a <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-technical-breakout-suggests-more-upside-ahead-btc-2024-2">22% upside ahead.</a>Spot bitcoin ETFs, which allows investors to gain exposure to bitcoin without owning it, have attracted strong interest since their debut, with inflows surging since bitcoin's latest rally kicked off this month. BlackRock's ETF <a href="https://markets.businessinsider.com/news/etf/bitcoin-etf-blackrock-cryptocurrency-record-daily-inflow-rally-halving-crypto-2024-2?_gl=1*1bnc7ix*_ga*MzE5NjcxNzA3LjE2OTU3NDM1ODY.*_ga_E21CV80ZCZ*MTcwOTIyNTY2MS41NzguMS4xNzA5MjI1NzM5LjYwLjAuMA..">drew $520 million</a> in a single day this week, the second-largest ever influx into a US ETF. "I think there's an even bigger wave coming in a few months as we start to see the wirehouses turn on," Hougan said.The biggest buyers are retail investors, Hougan said, while independent advisors and hedge funds have also shown strong interest. "The supply-demand dynamic is just off the hook," he added.This week, 30,000 tokens were purchased through the ETFs, while bitcoin miners have produced less than three thousand, Hougan said. That mismatch between supply and demand could drive the price of bitcoin to as high as $200,000. The halving event scheduled for April 2024 will also drive scarcity. The bitcoin ETF craze has spilled over into other crypto assets. Excitement for a possible ether ETF has driven the token's gains by even <a href="https://markets.businessinsider.com/news/currencies/ether-bitcoin-price-return-comparison-cryptocurrency-market-etf-hype-investors-2024-2">more than bitcoin's so far this year.</a>"I think there's a good chance we'll see [an ether ETF approval] by the end of this year," Hougan said.

The bitcoin ETF boom is the cryptocurrency's 'IPO moment,' says the investment chief of a fund provider

What is cryptocurrency? What to know about this increasingly popular digital currency before investing

<ul class="summary-list"><li>Alexis Ohanian said his early investment in Ethereum's pre-token sale is now worth $17.1 million.</li><li>The Reddit cofounder called it his best-ever investment.</li></ul>Alexis Ohanian recently revealed his single-best investment — and also some financial moves he now regrets.In a <a target="_blank" href="https://youtu.be/xZOld-6nSM4?si=5neOofH__yXEZUHb&amp;t=4336">podcast interview</a> with venture capitalist Harry Stebbings, the Reddit cofounder said that he made millions from investing early in Ethereum.Ohanian said he invested $10,000 at the company's pre-token sale — which turned out to be a highly lucrative move as the company's cryptocurrency, <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/ether-price-etfs-launch-outlook-crypto-bitcoin-rally-ethereum-2024-7">ether</a> (ETH), is now the second largest in the world by market cap.At the time of the podcast recording, Ohanian said his ether stake is now worth $17.1 million.The <a target="_blank" rel="" class="" href="https://www.businessinsider.com/seven-seven-six-names-ohanian-first-3-operators-in-residence-2021-2">SevenSevenSix venture capital firm</a> founder also said that, along with some ether, he also sold a lot of bitcoin — another profitable move for a more romantic reason."I sold it for a wedding and engagement ring and all that stuff, so it was a good investment," he said.Ohanian got engaged to tennis champion Serena Williams in 2016, and the two married the following year.<h2 id="cbc03656-e129-44b6-a951-f36a11faebcd">Biggest investment regrets</h2>While he successfully predicted Ethereum's rise, financial risks don't always pay off — and Ohanian talked about some examples of when he wished he had exited an investment sooner.Ohanian said one of his biggest investing regrets is Clubhouse, the social audio app that gained mass popularity during the COVID-19 lockdown. The startup raised over $100 million and at one point enjoyed <a target="_blank" class="" href="https://www.businessinsider.com/clubhouse-funding-round-4-billion-valuation-social-media-app-2021-4">a reported $4 billion valuation</a>.The app, which reached over 10 million downloads, inspired competing features such as Spaces on X, then Twitter, and Spotify's Greenroom."I had like the Series A," Ohanian said. "And I remember when that multibillion-dollar round came up, I actually put more money in because I'm an idiot."However, the post-pandemic return to normal life and outdoor socializing hit Clubhouse particularly hard, with daily downloads and <a target="_blank" class="" href="https://www.businessinsider.com/rise-and-fall-of-clubhouse-poster-child-pandemic-hype-2021-11">users dropping significantly</a> by 2021.But the "one that hurt the most" for Ohanian was the online HR platform TriNet Zenefits, formerly called Zenefits.After launching in 2013, Zenefits quickly became one of Silicon Valley's unicorn startups. Within two years, the company raised over $500 million and was <a target="_blank" class="" href="https://www.businessinsider.com/the-inside-story-of-zenefits-2016-3">valued at $4.5 billion</a> until it started unraveling amid <a target="_blank" class="" href="https://www.businessinsider.com/the-inside-story-of-zenefits-2016-3">various controversies</a>.In 2016, Fidelity marked down the value of several startups it had investments in, including Zenefits, by as much as 38%, The Wall Street Journal <a target="_blank" class="" href="https://www.wsj.com/articles/fidelity-marks-down-startups-including-dropbox-zenefits-1459346847">reported</a>."We could have returned the fund once over whenever the Fidelity markdown was," Ohanian said. "Literally putting an SPV together to sell Zenefits, and then the Fidelity markdown happened, and it killed the SPV."

Reddit cofounder reveals his best-ever investment — and his biggest flops

As major crypto exchanges like FTX go bankrupt amid high volatility, almost 90 per cent of <keyword id="2420795" type="General" weightage="20" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword> have a low trading volume, with just 2 per cent of <keyword id="11098664" type="General" weightage="20" keywordseo="crypto-coins" source="Orion">crypto coins</keyword> having a healthy liquidity, a new study has found. There are only 153 crypto coins with high volume that are traded in many exchanges. In contrast, there are 5,886 cryptocurrencies with very low volume that are traded in a very small number of exchanges, according to the report compiled by BitStacker. This reaffirms the fact that there is unequal balance of trading volume among the thousands of cryptocurrencies and it provides a warning against speculating on crypto coins with a low liquidity, the report mentioned. "The fact that so many cryptocurrencies suffer from a low liquidity or trading volume is another reminder of how risky it can be to speculate in some of the smaller crypto coins," said Kris Lucas, a BitStacker.com analyst. "After all, there is nothing stopping an unregulated cryptocurrency exchange from creating statistics that overvalue a particular coin," he added. The researchers tracked 6,656 crypto coins, and only 2.30 per cent of these cryptocurrencies were categorized as having a good liquidity. Liquidity is a term used to refer to the trading volume of an asset. The liquidity metric used in the study aims to highlight those crypto coins that have a low daily trading volume, or those cryptocurrencies where the trades take place in a very limited number of exchanges. "Such an understanding of liquidity is useful in that it can explain more than something like market capitalization. In particular, it can help traders understand when it might be difficult to buy or sell significant quantities of any crypto coin," the report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/how-indians-have-spent-their-money-on-swiggy-in-2022/slidelist/96285686.cms">Spending ₹75,000 on an order to buying groceries worth ₹16.6 lakh, here’s how Indians used Swiggy in 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/upcoming-electric-scooters-in-india-in-2023/articleshow/96278794.cms">From Suzuki and TVS to Hero Electric: Here are some of the top electric scooters expected to launch in 2023</a>

Only 2% of cryptocurrencies have 'healthy' liquidity, says BitStacker

<ul class="summary-list"><li>It's a bad idea to view luxury watches like they're investments, the CEO of Rolex said.</li><li>"This sends the wrong message and is dangerous," Jean-Frédéric Dufour told NZZ last week.</li></ul>If you think an expensive watch is akin to an investment that can offer stock market-style returns, you're doing it all wrong — according to the CEO of Rolex at least. "I don't like it when people compare watches to stocks. It sends the wrong message and is dangerous. We make products, not investments," Jean-Frédéric Dufour told Swiss newspaper <a target="_blank" href="https://www.nzz.ch/english/watches-and-wonders-2024-rolex-ceo-on-cooling-markets-and-the-idea-behind-the-watch-fair-ld.1825387">NZZ</a> last week.His comments as <a target="_blank" href="https://markets.businessinsider.com/news/stocks/whiskey-rolexes-trading-cards-collectibles-federal-reserve-stock-market-outlook-2024-1">secondhand watch prices slide</a> after spectacular pandemic-era growth.<a target="_blank" href="https://watchcharts.com/watches/price_index">WatchCharts' Overall Market Index</a>, which tracks prices, spiked 72% between January 2021 and March 2022 as retail investors who got rich trading cryptocurrencies and meme stocks sought to diversify their portfolios.Since that peak, the gauge has tumbled 38%, while the benchmark <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500 index</a> of US stocks is up 13% over the same period.Watch prices started dropping as the Federal Reserve started raising interest rates. Between May 2022 and July 2023, the central bank jacked up borrowing costs from near-zero to about 5%. When interest rates are higher, demand for big-ticket items tends to fall, because there's more incentive for consumers to save rather than spend.Dufour, who's been Rolex CEO since 2015, also told NZZ he's expecting a "challenging" year. Luxury watch companies such as Rolex, Patek Philippe and Audemars Piguet can't necessarily cut prices to stimulate demand, he added."It marks the end of a phase in which all manufacturers have been doing well. In good times, production tends to be too high. When markets weaken, as is the case now, retailers come under pressure to cut prices. This is extremely problematic because discounts damage emotional products like ours," Dufour said.A year ago Patek Philippe chairman Thierry Stern warned that the market for luxury watches was "<a target="_blank" href="https://www.businessinsider.com/swiss-luxury-watch-execs-say-the-market-is-slowing-down-2023-4">slowing down</a>."His company makes the <a target="_blank" rel="" href="https://www.businessinsider.com/tiffany-co-patek-philippe-nautilus-ref-5711-watch-blue-face-2021-12">coveted Nautilus</a> sports watch and only produces between 60,000 and 70,000 watches a year, which start at about $30,000.

Stop thinking your expensive watch is an investment, says Rolex boss

Our experts answer readers' investing questions and write unbiased product reviews (<a href="https://www.businessinsider.com/personal-finance/investing-rating-methodology" class="not-content-link" target="_blank">here's how we assess investing products</a>). Paid non-client promotion: In some cases, we receive a commission from <a href="https://www.businessinsider.com/personal-finance/our-partners" class="not-content-link" target="_blank">our partners</a>. Our opinions are always our own.Bottom line: Cash App Investing - Product Name Only is best for beginners wanting to pick and choose their own stocks, ETFs, and fractional shares. Although a decent option for folks who are already banking through Cash App, Cash App Investing is rather lackluster when it comes to advanced trading tools, account flexibility, investment options, and features. It doesn't offer mutual funds, futures, or options trading. <h2>About Cash App Investing</h2>Cash App is an online banking and investing platform that offers accessible, commission-free trading of more than 1,800 <a href="https://www.businessinsider.com/personal-finance/how-to-invest-in-stocks">stocks</a> and ETFs when you open a brokerage account. You can open an online brokerage account through Cash App investing for free.The beginner-friendly platform provides investors with simplified, hands-on trading strategies on the go. You can also opt-in to get access to trade <a href="https://www.businessinsider.com/personal-finance/fractional-shares">fractional shares</a> and bitcoin. However, bitcoin is the only supported cryptocurrency currently on the platform. Cash App Investing - Product Name Only links to your bank account to let you transfer money to friends, family, and other users. The company also has a debit card that lets you use your account balance to make purchases. But it doesn't offer investment advice or portfolio recommendations. Nor does it offer an advanced trading platform, or assets like mutual funds, futures, or options trades. Check out the <a href="https://www.businessinsider.com/personal-finance/best-online-brokers-for-free-stock-trading">best free stock trading apps</a> for investing platforms similar to Cash App Investing. These apps offer low account minimums, financial tools, educational resources, commission-free trading, and more. <h3>Is Cash App Investing Right For You?</h3>If you're looking for simplified, low-cost banking and investing all on the same platform, then Cash App Investing may be a good option for you. You'll get access to a wide range of commission-free stocks and <a href="https://www.businessinsider.com/personal-finance/what-is-an-etf">ETFs</a>, as well as fractional shares and bitcoin. If you're already banking with Cash App, then opening a brokerage account is a no-brainer. But you may want to reconsider if you're looking for stronger trading tools, extensive educational content, or hands-off trading features. Crypto investors are also better off with one of the <a href="https://www.businessinsider.com/personal-finance/best-crypto-bitcoin-exchanges">best cryptocurrency exchanges</a> for access to a much larger selection of coins and tokens, and crypto-specific investing features. <h2>Cash App Investing: Overall Rating</h2><table style="border-collapse: collapse; width: 100%;" border="1"><tbody><tr><td style="width: 50%;">Feature</td><td style="width: 50%;">Insider rating (out of 5)</td></tr><tr><td style="width: 50%;">Fees </td><td style="width: 50%; text-align: center;">4.90</td></tr><tr><td style="width: 50%;">Investment selection </td><td style="width: 50%; text-align: center;">3.00</td></tr><tr><td style="width: 50%;">Access </td><td style="width: 50%; text-align: center;">3.80</td></tr><tr><td style="width: 50%;">Customer service </td><td style="width: 50%; text-align: center;">4.70</td></tr><tr><td style="width: 50%;">Ethics </td><td style="width: 50%; text-align: center;">3.50</td></tr><tr><td style="width: 50%;">Overall score</td><td style="width: 50%; text-align: center;">3.99</td></tr></tbody></table><h2>Cash App Investing: Pros and Cons</h2><table style="border-collapse: collapse; width: 100%; height: 287px;" border="1"><tbody><tr style="height: 22px;"><td style="width: 37.2078%; height: 22px;">Pros</td><td style="width: 37.7922%;">Cons</td></tr><tr style="height: 265px;"><td style="font-weight: normal; width: 37.2078%;"><ul><li>Commission-free stocks and ETFs</li><li>No minimum to open an account</li><li>Online banking and investing on the same platform</li><li>fractional shares and bitcoin trading</li></ul></td><td style="width: 37.7922%; height: 265px;"><ul><li>Limited tools and features</li><li>No advanced trading platform</li><li>No robo-advisor</li><li>Doesn't offer mutual funds, options, or futures</li><li>Only cryptocurrency available for trading is bitcoin</li></ul></td></tr></tbody></table><h3>Cash App Investing: Is it Trustworthy?</h3>Cash App currently has an A+ rating with the <a href="https://www.bbb.org/us/ca/oakland/profile/mobile-apps/cash-app-1116-919908" target="_blank" rel="noopener">Better Business Bureau</a> and has been BBB accredited since 2021. BBB ratings range from A+ to F and reflect the bureau's opinion of how well a company interacts with its customers.Before issuing ratings, the bureau also considers a company's time in business (including the type of business it is), customer complaint history, licensing and government actions, and advertising issues.In March 2023, Block Inc., the parent company of Cash App, was accused of allegedly allowing rampant crime and fraud on the platform. <a href="https://hindenburgresearch.com/block/" target="_blank" rel="noopener">Hindenburg Research</a> interviewed former Cash App employees who estimated that 40% to 75% of reviewed accounts were attached to another user, fake, or involved in fraud. These claims triggered an investigation by the SEC. Cash App currently denies these allegations. In 2022, a data breach lawsuit was filed against Block Inc. after 8.2 million users' personal data was hacked through the Cash App Investing platform after a former employee downloaded internal company reports without legal permission. Since Cash App Investing users were at greater risk of identity fraud and theft, <a href="https://www.kgglaw.com/class-action-lawsuits/cash-app-data-breach-class-action-lawsuit/" target="_blank" rel="noopener">KGG Law</a> filed a lawsuit against Block Inc. and Cash App for alleged negligence and is seeking monetary compensation for various damages. This case is still pending. <h2>How to Invest With Cash App Investing</h2>Anyone can open a self-directed brokerage account on Cash App for no minimum requirement. Cash App Investing - Product Name Only offers commission-free trading of over 1,800 stocks and ETFs, as well as fractional shares for as little as $1. When you sell stocks, ETFs, and other assets on Cash App Investing, the money from the sale will be automatically transferred into your Cash App Balance. Securities purchased through Cash App Investing are held by the platform's third-party custodian, DriveWealth LLC., and are separate from the regular Cash App balance. You can directly pull existing funds from your Cash App balance to purchase investment securities. There are only a handful of tools and features available with Cash App Investing, such as direct deposits, automatic recurring trades, stock analyst opinions and earnings, and market trend alerts. Moreover, <a href="https://www.businessinsider.com/personal-finance/what-is-bitcoin">bitcoin</a> investors can store their assets with the app's built-in bitcoin wallet. Cash App Investing does not offer IRAs, <a href="https://www.businessinsider.com/personal-finance/what-is-a-custodial-account">custodial accounts</a>, or education savings accounts. <h2>Cash App Investing Fees</h2>There is no minimum requirement to open a brokerage account with Cash App Investing. Stocks and ETFs are commission-free. Fractional shares start as low as $1 per trade but may be more depending on the stock. The price of buying bitcoin can vary, but Cash App doesn't charge additional fees on trades. Investors will be charged a trading activity fee of $0.000145 per share sold for equity trades. There's an SEC Fee of $0.0008 per $100 principal balance. <h2>Cash App Investing — Frequently Asked Questions (FAQs)</h2><h3 class="faq-question">Is investing on Cash App good?</h3>Investing on Cash App may be a good option for beginner, active traders wanting to trade commission-free stocks, ETFs, fractional shares, and bitcoin. However, there are plenty of other low-cost beginner-friendly investing apps with better trading features, account options, and resources. <h3 class="faq-question">Can you make money on Cash App stock?</h3>Yes. You can make money on Cash App when you trade stocks, ETFs, bitcoin, and fractional shares. Cash App doesn't charge commissions on stock and ETF trades. Plus, there are no management fees or account minimums. <h3 class="faq-question">Can you invest $1 in Cash App?</h3>Yes. You can invest $1 in Cash App to purchase stocks, ETFs, fractional shares, or bitcoin. You may have to pay more depending on the asset and current market rates. <h3>How Cash App Invest Compares</h3>Cash App vs. Acorns InvestAcorns Invest - Product Name Only is a one-stop shop for banking, investing, and learning for passive investors. You'll get a personalized ETF portfolio based on your risk tolerance, goals, and time horizon. There's a Acorns Invest - Account Minimum minimum requirement to start investing. Cash App Investing and Acorns are both mobile-forward platforms best for beginners. However, Acorns is the better option for passive investors as it mainly functions as a robo-advisor. You'll also get a much larger selection of assets, account options, and trading tools with Acorns. Active investors may prefer Cash App Investing. However, the platform is significantly more limited than Acorns overall. <a href="https://www.businessinsider.com/personal-finance/acorns-investing-review">Acorns review</a>Cash App vs. Robinhood Like Cash App Investing, Robinhood offers hands-on investing strategies for new investors to trade commission-free stocks and ETFs. Plus, it also offers fractional shares, cryptocurrencies, and IPOs. Robinhood Investing - Product Name Only is the overall better choice as it offers a larger selection of cryptocurrencies, as well as options and margin trading. Experienced traders can utilize the platform's more in-depth analysis, Nasdaq market data, and advanced charting features with Robinhood Gold. Retirement-focused investors will even get a 1% match on contributions. Unless you already have a Cash App banking account and want to directly draw funds from your Cash App balance to invest in stocks and other assets, Robinhood is the better investment app. <a href="https://www.businessinsider.com/personal-finance/robinhood-investing-review">Robinhood review</a><h3>Related Terms</h3><ul><li>Cryptocurrencies: A type of decentralized, digital asset created and traded on the blockchain. Cryptocurrencies are not issued by the government and are generally high-risk assets. </li><li>ETFs: Exchange-traded funds (ETFs) are investment funds comprised of a blend of stocks, bonds, and other securities. Investing in ETFs is a great way to diversify your investment portfolio. </li><li>Fractional shares: Buy a small portion of a whole stock for a cheaper price. Fractional shares earn the same gains and losses as whole stocks. </li></ul><h2>Methodology: How We Reviewed Cash App Investing</h2>We examined Cash App Investing app using <a href="https://www.businessinsider.com/personal-finance/investing-rating-methodology" rel="">Personal Finance Insider's rating methodology for investing platforms</a> to compare and examine account types, pricing, investment options, and overall customer experience when reviewing investing platforms. Platforms are given a rating from 0 to 5. Investing platforms generally offer multiple assets, trading tools, fees, and other resources. Some investing platforms are better for more advanced investors or active investors, while others may better suit beginner investors and passive investors. Cash App Investing - Product Name Only was evaluated with a focus on how it performed in each category.

Cash App Investing Review 2023

The world's biggest <keyword id="6357017" type="General" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> <keyword id="6354947" type="General" weightage="70" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> touched a 19-month high above $42,000 which was triggered by some "panic buying", reports said on Tuesday. The surge in Bitcoin prices pushed the <keyword id="6380571" type="General" weightage="50" keywordseo="crypto-market" source="Orion">crypto market</keyword> capitalization over $1.5 trillion for the first time since May 2022, when <keyword id="19718276" type="General" weightage="20" keywordseo="terra-crypto" source="Orion">Terra crypto</keyword> token collapse kicked-off the crypto winter. Bitcoin was hovering around $41,700 per token on Tuesday. According to analysts, bets on lower interest rates, spot bitcoin ETF anticipation and "panic buying" helped the rally, reports <keyword id="11929735" type="General" weightage="80" keywordseo="coindesk" source="Orion">CoinDesk</keyword>. Smaller crypto tokens, however, lagged behind, with ether (ETH), BNB and ADA gaining 2-3% during the day, while XRP traded flat. "This shows panic buying from traders who are closing out shorts or increasing leveraged longs," according to crypto investment services provider Matrixport. The macroeconomic environment is also supporting Bitcoin's price rise. "Dovish talk from some Fed officials, a weakening dollar, and relatively sturdy domestic data helped propel markets over the weekend," Alex Thorn, head of research at digital asset investment firm Galaxy, was quoted as saying in the report. While Bitcoin's outlook looks bright, there are some possible short-term headwinds looming, according to analysts. "The reason for concern is that even though selling pressure was being exhausted in the futures markets, there was a lack of follow-through from spot markets," Bitfinex analysts said. Bitcoin is up more than 150% year-to-date, and it is one of the world's best-performing assets on a risk-adjusted basis. "Despite the run, Bitcoin remains very constructive," said analysts.

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