Bitcoin News and Finance

Ark Invest Now Sees Higher Probability of Bitcoin Soaring to $1.5 Million, CEO Says

Ark Invest CEO Cathie Wood has doubled down on her bullish bitcoin forecasts, now seeing a higher probability of the price of bitcoin soaring to $1.5 million per coin. She emphasized that the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) has raised the probability of her bull case prediction.

Ark Invest Sees Increased Probability of Bitcoin Reaching $1.5 Million

Cathie Wood, the CEO of Ark Investment Management (Ark Invest), doubled down on her bitcoin price predictions on Thursday following the approval of 11 spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).

Referencing Ark’s Big Ideas 2023, the asset management firm’s yearly report highlighting “the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow,” Wood explained: “Our base case is in the $600,000 range” for the price of bitcoin. Ark’s “bull case” prediction sees the price of BTC reaching $1.48 million per coin. Wood detailed:

We think the probability of the bull case has increased with this ETF approval, this is a green light. Our bull case is $1.5 million by 2030.

“This is a big idea. It is the first global decentralized digital … rules-based monetary system in history. It’s a very big idea,” the Ark Invest executive opined.

Ark and 21shares’ spot bitcoin ETF proposal was one of the 11 spot bitcoin ETFs approved by the SEC on Wednesday. On the first day of trading, spot bitcoin ETFs racked up $4.6 billion in trading volume. Blackrock, the world’s largest asset manager, debuted its Ishares Bitcoin Trust with $1 billion in trading volume.

Wood recently said that she expects spot bitcoin ETFs to attract “substantial” institutional flows into bitcoin, pushing the price of BTC “much higher.” Despite the approval of 11 spot bitcoin ETFs, SEC Chair Gary Gensler stressed that the agency did not approve or endorse bitcoin.

What do you think about the bitcoin price prediction by Ark Invest CEO Cathie Wood? Let us know in the comments section below.

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Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

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Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r

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