Bitcoin and other Cryptocurrencies

Bitcoin prices have climbed significantly thus far in 2021, rising from less than $29,000 at the start of the year to nearly $45,000 today.

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Bitcoin currently trade above 50,800.00.

Latest bitcoin chart update.

EOSUSD latest chart update (Daily chart).

Latest crytocurrency chart update as at 20 feb 2021

Bitcoin vs USD

Ethereum vs USD

Tesla and Spacex CEO Elon Musk has clarified his position on bitcoin. Emphasizing that he is an engineer, not an investor, Musk says that bitcoin “is simply a less dumb form of liquidity than cash.” Musk also disputed gold bug Peter Schiff’s claims about bitcoin and commented on the price of the cryptocurrency.

What Elon Musk Thinks About Bitcoin

The CEO of cryptocurrency exchange Binance, Changpeng Zhao, was interviewed by Bloomberg Thursday after the demand for dogecoin on his exchange soared. He commented on Elon Musk’s enthusiasm towards the meme cryptocurrency during the interview.

“I’m surprised that Elon’s so gung-ho on dogecoin,” Zhao began, noting that “This is a decentralized, free world and anybody can like anything. He [Musk] can like dogecoin for any reason he likes.” Emphasizing his strong belief that Musk is not associated with dogecoin, the Binance CEO pointed out that Musk’s electric car company, Tesla, bought $1.5 billion of bitcoin, not dogecoin.

Musk saw the interview on Twitter and replied:

"Tesla’s action is not directly reflective of my opinion. Having some bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company."

“To be clear, I am ‘not’ an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla,” he elaborated.

Nonetheless, Musk clarified: “However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as BS as fiat money. The key word is ‘almost.'”

Gold bug Peter Schiff, who recently bashed Musk and Tesla for buying bitcoin, tweeted Friday: “According to Elon Musk ‘Bitcoin is almost as BS as fiat money.’ So Musk regards both bitcoin and fiat as BS.”

He further wrote: “I agree, I just think bitcoin, which is digital fiat, is even more BS than the paper fiat issued by central banks. Gold is not BS. It’s real money and better than both.”

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The firm said it has now reached its internal product limit for exposure to cryptocurrencies after an FCA ban on crypto derivatives in January.

London-listed forex and derivatives trading platform IG Group (IGG) is asking retail clients to close their open spread bet and contract for difference (CFD) positions on cryptocurrencies.

According to a post from an administrator on IG’s forum Sunday, the firm has now reached its internal product limit for exposure to cryptocurrencies, and as a result, will be removing them from its offerings. Until then, IG will be increasing its margin requirements, the admin said.

The relevant positions on cryptocurrencies must be closed by 15:00 local time on March 24. After that, IG will close any positions still open based on its prevailing bid/ask prices, they said.

The move comes after the U.K.’s Financial Conduct Authority (FCA) ban on the sale of derivatives and exchange-traded notes came into effect on Jan. 6, after the financial regulator said it considers the products to be too high risk for retail consumers.

Since the ban was implemented, IG has restricted U.K. retail clients from increasing their exposure to cryptocurrencies, the admin said.

The FCA’s restriction has been criticized by some in the crypto industry, who argued that U.K. retail investors should have access to the same opportunities as institutions and that the ban would drive traders to unregulated exchanges.

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