Crypto exchange Binance profitable despite bear market, CFO says

Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017. “To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday. The company doesn’t disclose its financials publicly, he said, and media outlets have been


Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017. “To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday. The company doesn’t disclose its financials publicly, he said, and media outlets have been
Crypto exchange Binance profitable despite bear market, CFO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: ryan browne, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, crypto, bear, startups, profitable, exchange, publicly, million, cfo, told, binance, net, market, estimates, despite


Crypto exchange Binance profitable despite bear market, CFO says

Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said.

Last year saw the prices of major virtual currencies plunge dramatically. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017.

“To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday.

The company doesn’t disclose its financials publicly, he said, and media outlets have been publishing estimates based on publicly available metrics.

One report, by industry publication The Block, estimates Binance made $446 million last year, based on an analysis of how much it spent to buy back units of its token, called BNB, using its net profits.

The start-up’s Chief Executive Changpeng Zhao told Bloomberg in July that Binance was targeting a net profit of between $500 million and $1 billion in 2018.

The company has only been around since July 2017, but has become a dominant force in the nascent sector. It raised $15 million in its initial coin offering — a funding alternative to venture capital where start-ups sell new crypto tokens instead of equity.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: ryan browne, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, crypto, bear, startups, profitable, exchange, publicly, million, cfo, told, binance, net, market, estimates, despite


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Crypto exchange Binance profitable despite bear market, CFO says

Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017. “To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday. The company doesn’t disclose its financials publicly, he said, and media outlets have been


Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017. “To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday. The company doesn’t disclose its financials publicly, he said, and media outlets have been
Crypto exchange Binance profitable despite bear market, CFO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: ryan browne, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, crypto, bear, startups, profitable, exchange, publicly, million, cfo, told, binance, net, market, estimates, despite


Crypto exchange Binance profitable despite bear market, CFO says

Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said.

Last year saw the prices of major virtual currencies plunge dramatically. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017.

“To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday.

The company doesn’t disclose its financials publicly, he said, and media outlets have been publishing estimates based on publicly available metrics.

One report, by industry publication The Block, estimates Binance made $446 million last year, based on an analysis of how much it spent to buy back units of its token, called BNB, using its net profits.

The start-up’s Chief Executive Changpeng Zhao told Bloomberg in July that Binance was targeting a net profit of between $500 million and $1 billion in 2018.

The company has only been around since July 2017, but has become a dominant force in the nascent sector. It raised $15 million in its initial coin offering — a funding alternative to venture capital where start-ups sell new crypto tokens instead of equity.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: ryan browne, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, crypto, bear, startups, profitable, exchange, publicly, million, cfo, told, binance, net, market, estimates, despite


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Facebook co-founder Sean Parker on Elon Musk AI warnings

Elon Musk’s hellish predictions about artificial intelligence are not worth worrying about, tech entrepreneur Sean Parker said Wednesday. Parker, who co-founded the music file sharing site Napster and was Facebook’s first president, said he was much more worried by the state of the health-care system. “As much as I love Elon, and he’s a great entrepreneur and a friend, his comic book vision of a future in which an artificial superintelligence takes over everything and enslaves the human race is


Elon Musk’s hellish predictions about artificial intelligence are not worth worrying about, tech entrepreneur Sean Parker said Wednesday. Parker, who co-founded the music file sharing site Napster and was Facebook’s first president, said he was much more worried by the state of the health-care system. “As much as I love Elon, and he’s a great entrepreneur and a friend, his comic book vision of a future in which an artificial superintelligence takes over everything and enslaves the human race is
Facebook co-founder Sean Parker on Elon Musk AI warnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: ryan browne, gilbert carrasquillo, getty images
Keywords: news, cnbc, companies, parker, elon, ai, facebook, wednesdayparker, worried, artificial, world, sean, worlds, musk, cofounder, worrying, race, entrepreneur, worth, warnings


Facebook co-founder Sean Parker on Elon Musk AI warnings

Elon Musk’s hellish predictions about artificial intelligence are not worth worrying about, tech entrepreneur Sean Parker said Wednesday.

Parker, who co-founded the music file sharing site Napster and was Facebook’s first president, said he was much more worried by the state of the health-care system.

“As much as I love Elon, and he’s a great entrepreneur and a friend, his comic book vision of a future in which an artificial superintelligence takes over everything and enslaves the human race is probably not what we should be worrying about,” he told CNBC’s Hadley Gamble at the Milken Institute MENA Summit in Abu Dhabi.

Musk has in the past warned about the race between global powers to harness the potential of AI, going as far as to say it could result in a third world war. The U.S. is generally considered to be the front runner in the battle to dominate the technology, but China, the world’s second-largest economy, has its own ambitions to be a leader in the space.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: ryan browne, gilbert carrasquillo, getty images
Keywords: news, cnbc, companies, parker, elon, ai, facebook, wednesdayparker, worried, artificial, world, sean, worlds, musk, cofounder, worrying, race, entrepreneur, worth, warnings


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Facebook co-founder Sean Parker on Elon Musk AI warnings

Elon Musk’s hellish predictions about artificial intelligence are not worth worrying about, tech entrepreneur Sean Parker said Wednesday. Parker, who co-founded the music file sharing site Napster and was Facebook’s first president, said he was much more worried by the state of the health-care system. “As much as I love Elon, and he’s a great entrepreneur and a friend, his comic book vision of a future in which an artificial superintelligence takes over everything and enslaves the human race is


Elon Musk’s hellish predictions about artificial intelligence are not worth worrying about, tech entrepreneur Sean Parker said Wednesday. Parker, who co-founded the music file sharing site Napster and was Facebook’s first president, said he was much more worried by the state of the health-care system. “As much as I love Elon, and he’s a great entrepreneur and a friend, his comic book vision of a future in which an artificial superintelligence takes over everything and enslaves the human race is
Facebook co-founder Sean Parker on Elon Musk AI warnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: ryan browne, gilbert carrasquillo, getty images
Keywords: news, cnbc, companies, parker, elon, ai, facebook, wednesdayparker, worried, artificial, world, sean, worlds, musk, cofounder, worrying, race, entrepreneur, worth, warnings


Facebook co-founder Sean Parker on Elon Musk AI warnings

Elon Musk’s hellish predictions about artificial intelligence are not worth worrying about, tech entrepreneur Sean Parker said Wednesday.

Parker, who co-founded the music file sharing site Napster and was Facebook’s first president, said he was much more worried by the state of the health-care system.

“As much as I love Elon, and he’s a great entrepreneur and a friend, his comic book vision of a future in which an artificial superintelligence takes over everything and enslaves the human race is probably not what we should be worrying about,” he told CNBC’s Hadley Gamble at the Milken Institute MENA Summit in Abu Dhabi.

Musk has in the past warned about the race between global powers to harness the potential of AI, going as far as to say it could result in a third world war. The U.S. is generally considered to be the front runner in the battle to dominate the technology, but China, the world’s second-largest economy, has its own ambitions to be a leader in the space.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: ryan browne, gilbert carrasquillo, getty images
Keywords: news, cnbc, companies, parker, elon, ai, facebook, wednesdayparker, worried, artificial, world, sean, worlds, musk, cofounder, worrying, race, entrepreneur, worth, warnings


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Sony names new PlayStation chief as speculation grows over its next big console

Sony’s gaming division appointed senior executive Jim Ryan as its new president and CEO on Tuesday. Ryan will be appointed to his new role on April 1, taking the reins from John Kodera, Sony Interactive Entertainment (SIE) said in a statement. “Our Game & Network Services business has grown into the Sony Group’s largest business in terms of both sales and operating income,” Yoshida said in a statement. Speculation has been growing over the firm’s next big console, as the PS4 approaches the end o


Sony’s gaming division appointed senior executive Jim Ryan as its new president and CEO on Tuesday. Ryan will be appointed to his new role on April 1, taking the reins from John Kodera, Sony Interactive Entertainment (SIE) said in a statement. “Our Game & Network Services business has grown into the Sony Group’s largest business in terms of both sales and operating income,” Yoshida said in a statement. Speculation has been growing over the firm’s next big console, as the PS4 approaches the end o
Sony names new PlayStation chief as speculation grows over its next big console Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: ryan browne, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, sales, speculation, big, yoshida, grows, president, chief, appointed, wijman, names, console, business, sonys, sony, services, playstation


Sony names new PlayStation chief as speculation grows over its next big console

Sony’s gaming division appointed senior executive Jim Ryan as its new president and CEO on Tuesday.

Ryan will be appointed to his new role on April 1, taking the reins from John Kodera, Sony Interactive Entertainment (SIE) said in a statement.

The executive previously served as SIE’s deputy president and was head of global sales and marketing before that.

“Our Game & Network Services business has grown into the Sony Group’s largest business in terms of both sales and operating income,” Yoshida said in a statement. “Furthermore, our business in this domain holds significant importance as our growth driver going forward.”

He added: “At the same time, this industry is relentlessly fast-moving, and to remain the market leader, we must constantly evolve ourselves with a sense of urgency.”

The move marks the second time in two years that the company has named a new PlayStation boss — Kodera was appointed in October 2017 — and comes after it reported a drop in profits and sales of its PlayStation 4 console.

Speculation has been growing over the firm’s next big console, as the PS4 approaches the end of its lifecycle. Sony President and CEO Kenichiro Yoshida confirmed last year that the product was in development, but remained tight-lipped on the branding and features.

Tom Wijman, senior market analyst at gaming research firm Newzoo, said the leadership change was likely about Sony’s renewed focus on the services side of its business, the PlayStation Network, or PSN.

“Two key trends play a role here: firstly, game franchises are slowly turning into entertainment franchises,” Wijman said. “Secondly, in an era of gaming-as-a-service and the upcoming games subscriptions, owning IP (intellectual property) is very valuable.”


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: ryan browne, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, sales, speculation, big, yoshida, grows, president, chief, appointed, wijman, names, console, business, sonys, sony, services, playstation


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A German payment firm’s shares have plummeted 30% in less than two weeks — here’s why

Shares of German payments firm Wirecard have suffered big losses in less than two weeks. The company drew investor attention last year when its market capitalization climbed above that of Deutsche Bank. It also made waves after the firm joined the domestic blue-chip DAX index, ousting Commerzbank. But since Jan. 30, Wirecard’s stock price has dropped almost 30 percent amid developing reports of an accounting scandal at its Singapore office. CNBC explains what you need to know about the accusatio


Shares of German payments firm Wirecard have suffered big losses in less than two weeks. The company drew investor attention last year when its market capitalization climbed above that of Deutsche Bank. It also made waves after the firm joined the domestic blue-chip DAX index, ousting Commerzbank. But since Jan. 30, Wirecard’s stock price has dropped almost 30 percent amid developing reports of an accounting scandal at its Singapore office. CNBC explains what you need to know about the accusatio
A German payment firm’s shares have plummeted 30% in less than two weeks — here’s why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: ryan browne, alexander pohl, nurphoto, getty images
Keywords: news, cnbc, companies, shares, german, singapore, waves, wirecards, plummeted, suffered, stock, payment, wirecard, 30, weeks, weeksthe, firm, heres, firms


A German payment firm's shares have plummeted 30% in less than two weeks — here's why

Shares of German payments firm Wirecard have suffered big losses in less than two weeks.

The company drew investor attention last year when its market capitalization climbed above that of Deutsche Bank.

It also made waves after the firm joined the domestic blue-chip DAX index, ousting Commerzbank.

But since Jan. 30, Wirecard’s stock price has dropped almost 30 percent amid developing reports of an accounting scandal at its Singapore office.

CNBC explains what you need to know about the accusations facing Wirecard.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: ryan browne, alexander pohl, nurphoto, getty images
Keywords: news, cnbc, companies, shares, german, singapore, waves, wirecards, plummeted, suffered, stock, payment, wirecard, 30, weeks, weeksthe, firm, heres, firms


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Saudi Arabia denies involvement in leak of Jeff Bezos’ messages to the National Enquirer

Saudi Arabia rejected the suggestion it played a role in leaking Amazon CEO Jeff Bezos’ intimate messages to the National Enquirer. “Absolutely not,” Jubeir said when quizzed over whether his government had any involvement in the leaking of messages to AMI, the tabloid’s publisher. His remarks come after Bezos lashed out at AMI for alleged blackmail and extortion in a stunning blog post last week. In the post, Bezos said the National Enquirer threatened to post sexual pictures he had texted to h


Saudi Arabia rejected the suggestion it played a role in leaking Amazon CEO Jeff Bezos’ intimate messages to the National Enquirer. “Absolutely not,” Jubeir said when quizzed over whether his government had any involvement in the leaking of messages to AMI, the tabloid’s publisher. His remarks come after Bezos lashed out at AMI for alleged blackmail and extortion in a stunning blog post last week. In the post, Bezos said the National Enquirer threatened to post sexual pictures he had texted to h
Saudi Arabia denies involvement in leak of Jeff Bezos’ messages to the National Enquirer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: ryan browne, jim watson, afp, getty images
Keywords: news, cnbc, companies, enquirer, post, leaking, denies, national, involvement, ami, arabia, leak, week, saudi, ceo, bezos, messages, jeff, amazon


Saudi Arabia denies involvement in leak of Jeff Bezos' messages to the National Enquirer

Saudi Arabia rejected the suggestion it played a role in leaking Amazon CEO Jeff Bezos’ intimate messages to the National Enquirer.

Adel al-Jubeir, the country’s minister of state for foreign affairs, told CBS’ “Face the Nation” on Sunday that the Arab kingdom had “nothing to do with” the episode.

“Absolutely not,” Jubeir said when quizzed over whether his government had any involvement in the leaking of messages to AMI, the tabloid’s publisher.

“This sounds to me like a soap opera,” he added. “I’ve been watching it on television and reading about it in the paper. This is something between the two parties. We have nothing to do with it.”

His remarks come after Bezos lashed out at AMI for alleged blackmail and extortion in a stunning blog post last week. In the post, Bezos said the National Enquirer threatened to post sexual pictures he had texted to his mistress, Lauren Sanchez, including a “below the belt selfie.”

Bezos alluded to claims that AMI and CEO David Pecker have links to the Saudi government. The Amazon chief also mentioned his ownership of The Washington Post, noting that the newspaper’s “essential and unrelenting coverage of the murder of its columnist Jamal Khashoggi is undoubtedly unpopular in certain circles.”


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: ryan browne, jim watson, afp, getty images
Keywords: news, cnbc, companies, enquirer, post, leaking, denies, national, involvement, ami, arabia, leak, week, saudi, ceo, bezos, messages, jeff, amazon


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SoftBank leads $440 million investment in UK fintech OakNorth, valuing it at $2.8 billion

British digital bank OakNorth said Friday it secured $440 million in an investment round led by Japan’s SoftBank. The firm, which lends to small-to-medium enterprises through its digital platform, said it had raised $390 million from SoftBank’s $100 billion Vision Fund, with the remaining capital coming from Clermont. The deal gives the three-year-old firm an eye-watering $2.8 billion post-money valuation, making it Europe’s most valuable private fintech group. OakNorth’s announcements confirmed


British digital bank OakNorth said Friday it secured $440 million in an investment round led by Japan’s SoftBank. The firm, which lends to small-to-medium enterprises through its digital platform, said it had raised $390 million from SoftBank’s $100 billion Vision Fund, with the remaining capital coming from Clermont. The deal gives the three-year-old firm an eye-watering $2.8 billion post-money valuation, making it Europe’s most valuable private fintech group. OakNorth’s announcements confirmed
SoftBank leads $440 million investment in UK fintech OakNorth, valuing it at $2.8 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: ryan browne, alex rumford
Keywords: news, cnbc, companies, leads, growth, softbank, digital, billion, capital, oaknorth, uk, valuing, softbanks, fintech, 440, investment, million, firm


SoftBank leads $440 million investment in UK fintech OakNorth, valuing it at $2.8 billion

British digital bank OakNorth said Friday it secured $440 million in an investment round led by Japan’s SoftBank.

The firm, which lends to small-to-medium enterprises through its digital platform, said it had raised $390 million from SoftBank’s $100 billion Vision Fund, with the remaining capital coming from Clermont.

The deal gives the three-year-old firm an eye-watering $2.8 billion post-money valuation, making it Europe’s most valuable private fintech group.

OakNorth’s announcements confirmed reports overnight that said the company had received a new cash injection from the Japanese tech giant.

Speculation over the funding began late last year after a Times of London report said that SoftBank was in talks with OakNorth and fellow British fintech firm Revolut about investing in both businesses via its technology investment fund.

“We decided that, with (SoftBank’s) capital, and with their network, that we would be able to significantly expand to growth plans we have for the business,” Rishi Khosla, co-founder and chief executive of OakNorth, told CNBC over the phone.

“Aligned with our mission to support the financing needs of growth SMEs across the globe, we thought SoftBank… would be a really good investor to have alongside our existing strong investors.”


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: ryan browne, alex rumford
Keywords: news, cnbc, companies, leads, growth, softbank, digital, billion, capital, oaknorth, uk, valuing, softbanks, fintech, 440, investment, million, firm


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Fintech start-up Tink raises $64 million at $270 million valuation

Swedish financial technology start-up Tink says it’s raised 56 million euros ($64 million) in a funding round aimed at fueling its expansion plans. The funding exercise values Tink at approximately 240 million euros ($273 million), a person familiar with the deal told CNBC on the condition of anonymity as the valuation has not been publicly announced. The Stockholm-based firm, which is backed by European banks SEB, Nordea and ABN AMRO, offers an app for people to get a snapshot of how they’re sp


Swedish financial technology start-up Tink says it’s raised 56 million euros ($64 million) in a funding round aimed at fueling its expansion plans. The funding exercise values Tink at approximately 240 million euros ($273 million), a person familiar with the deal told CNBC on the condition of anonymity as the valuation has not been publicly announced. The Stockholm-based firm, which is backed by European banks SEB, Nordea and ABN AMRO, offers an app for people to get a snapshot of how they’re sp
Fintech start-up Tink raises $64 million at $270 million valuation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: ryan browne
Keywords: news, cnbc, companies, million, 270, startup, valuation, nordea, funding, venture, seb, 64, round, fintech, abn, tink, technology, raises


Fintech start-up Tink raises $64 million at $270 million valuation

Swedish financial technology start-up Tink says it’s raised 56 million euros ($64 million) in a funding round aimed at fueling its expansion plans.

The funding exercise values Tink at approximately 240 million euros ($273 million), a person familiar with the deal told CNBC on the condition of anonymity as the valuation has not been publicly announced.

The Stockholm-based firm, which is backed by European banks SEB, Nordea and ABN AMRO, offers an app for people to get a snapshot of how they’re spending across all their bank accounts.

But it also licenses its technology to banks with partnership deals, through which it either integrates its platform with their apps or helps them develop new standalone apps.

For instance, the company joined forces with ABN AMRO to help the Dutch lender create a new financial management app called Grip.

Tink said Thursday it had picked up fresh capital in a venture round that was led by Insight Venture Partners, with backing from SEB, Nordea’s venture capital arm and ABN AMRO’s corporate venture fund.

Christian Clausen, former chief executive of Nordea, and Nikolay Storonsky, co-founder and chief executive of fintech start-up Revolut, also invested in the company.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: ryan browne
Keywords: news, cnbc, companies, million, 270, startup, valuation, nordea, funding, venture, seb, 64, round, fintech, abn, tink, technology, raises


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Jack Dorsey says the ‘only’ cryptocurrency he owns is bitcoin

Jack Dorsey, the billionaire founder of tech firms Twitter and Square, is still bullish on the world’s most valuable cryptocurrency. Dorsey said in a tweet Tuesday evening that — out of the hundreds of virtual currencies in existence — the only one he currently holds is bitcoin. Dorsey, whose fintech company Square lets users buy and sell bitcoin via its Cash app, didn’t specify how much bitcoin he owned. The digital asset’s price has tumbled more than 80 percent since an all-time high near $20,


Jack Dorsey, the billionaire founder of tech firms Twitter and Square, is still bullish on the world’s most valuable cryptocurrency. Dorsey said in a tweet Tuesday evening that — out of the hundreds of virtual currencies in existence — the only one he currently holds is bitcoin. Dorsey, whose fintech company Square lets users buy and sell bitcoin via its Cash app, didn’t specify how much bitcoin he owned. The digital asset’s price has tumbled more than 80 percent since an all-time high near $20,
Jack Dorsey says the ‘only’ cryptocurrency he owns is bitcoin Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: ryan browne, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, users, dorsey, bullish, currency, worlds, virtual, cryptocurrency, owns, square, digital, valuable, jack, bitcoin


Jack Dorsey says the 'only' cryptocurrency he owns is bitcoin

Jack Dorsey, the billionaire founder of tech firms Twitter and Square, is still bullish on the world’s most valuable cryptocurrency.

Dorsey said in a tweet Tuesday evening that — out of the hundreds of virtual currencies in existence — the only one he currently holds is bitcoin.

“I only have bitcoin,” the entrepreneur told his followers.

Dorsey, whose fintech company Square lets users buy and sell bitcoin via its Cash app, didn’t specify how much bitcoin he owned. The digital asset’s price has tumbled more than 80 percent since an all-time high near $20,000 it hit in December 2017.

That hasn’t stopped him from making bullish calls for the digital coin. Dorsey has made the prediction that bitcoin will one day become the single global currency, and said he hopes the cryptocurrency will eventually be the “native currency” of the internet.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: ryan browne, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, users, dorsey, bullish, currency, worlds, virtual, cryptocurrency, owns, square, digital, valuable, jack, bitcoin


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