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$35 TRILLION Global Stock Market Meltdown!!! (#GotBitcoin)

$35 TRILLION in global market value erased since the beginning of the year. That’s 14% of all global wealth. Includes the $1T losses in crypto. $35 TRILLION Global Stock Market Meltdown!!! (#GotBitcoin)

For reference – 2008 was a 19% decline.


* Doesn’t include non-financial assets such as housing.

$35 TRILLION Global Stock Market Meltdown!!! (#GotBitcoin)

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Financial Inequality Grouped By Race For Blacks, Whites And Hispanics

 

 

Updated: 5-10-2022

Global Equity Markets Experience $11 Trillion Of Value Erased Since The End Of March

* European Stocks At ‘Oversold’ Levels, Nasdaq 100 Nearing That
* Goldman, JPMorgan See Buying Opportunities After Selloff

The rout in global equity markets that erased $11 trillion since the end of March may be reaching a floor for now as battered valuations, particularly among tech stocks, attract dip buyers.

For some, the argument rests on technical indicators, while others are looking at what corporates are offering, such as strong balance sheets and high dividend yields. Plus, investors have already priced in a lot of concerns, according to Peter Oppenheimer, chief global equity strategist at Goldman Sachs Group Inc., including about inflation and growth, central bank policy tightening and the war in Ukraine.

“Equities are starting to look attractive for medium-to-longer term buyers,” he told Bloomberg Television on Tuesday. While the downside risks still lurk, “all of that really is absorbed into the market already.”

European stocks rebounded on Tuesday, following another selloff across both sides of the Atlantic on Monday. The Stoxx 600 index was up 1.3% as of 1:30 p.m in London. S&P 500 and Nasdaq 100 futures pointed to a positive open for U.S markets, with the latter advancing as much as 1.8% as bargain hunters returned.

Amid concerns about how aggressively central banks will move, markets may also have taken some relief from Raphael Bostic, Federal Reserve Bank of Atlanta president, who said late Monday that he doesn’t support rate hikes bigger than 50 basis points.

The S&P 500 has fallen for four straight weeks, while the Stoxx 600 has tested the lows reached after the war in Ukraine erupted. In Europe, stocks are technically “oversold” based on the 14-day relative strength index, a momentum indicator measuring the magnitude of recent price changes, while the Nasdaq is also closing in on such levels. The reading has been a good predictor of a short-term bottom in the past year.

$35 TRILLION Global Stock Market Meltdown!!! (#GotBitcoin)

“While it has been realized on a lower volume profile with less panic, it is worth noting the Stoxx 600 just hit its most technically oversold level since March this year,” said Carl Dooley, head of EMEA trading at Cowen. “The last time that happened markets rallied over 10% in a straight line.”

Stocks are getting notably cheaper, as earnings growth forecasts continue to improve, while prices have plunged. Europe’s Stoxx 600 is now trading at 12 times its forward earnings, below its average forward price-to-earnings ratio of 13.2 since 2005. It’s suffered a 22% de-rating this year, a similar valuation drop to the S&P 500.

“We have seen quite a big correction now,” Oppenheimer said. “There are inevitably times when you are going to get some of the setback rebounding.”

Oppenheimer is not alone in seeing a floor. JPMorgan Chase & Co.’s Marko Kolanovic repeated his dip-buying calls on Monday, urging investors to add risk as central bank hawkishness has reached its peak. Still, the problem is that such calls by die-hard bulls have failed investors before.

Back in mid-April, Kolanovic said sentiment and positioning are too bearish, and advised investors to buy growth stocks including tech, biotech and innovation, alongside value stocks like metals and mining. The Nasdaq 100 index has ended every single week since then in the red.

For bears, such as Bank of America Corp.’s equity strategy team, the selloff may continue until October, and the S&P 500’s fall below 4,000 index points may tip it into a more severe rout as investors flee. Morgan Stanley’s Michael Wilson has said the “S&P 500 has minimum downside to 3,800 in the near term and possibly as low as 3,460.”

Much of that concern is tied to the economic backdrop, and the growing risk of stagflation looming large over the investment outlook. Even the long tradition of markets outperforming during earnings seasons has been challenged. While corporate profits both in Europe and the U.S. came in again above expectations, the beats have failed to assuage broad concerns.

“We have a perfect storm at the moment — inflation, Ukraine war, zero Covid policy in China, normalization of monetary policy,” said Vincent Juvyns, a global market strategist at JPMorgan Asset Management. Still, he insisted, “a lot is priced in at the moment” and “we may soon hit the bottom.”

Updated: 5-14-2022

$11 Trillion And Counting: Global Stock Slump May Not Be Over

* MS, Citi Strategists See Growth Woes Pressuring Stocks Further
* Key Technical Indicators Show Room For More Declines

A mass exodus of money, an $11 trillion wipeout, and the worst losing streak for global stocks since the 2008 financial crisis. The bad news is that it may not be over yet.

The selloff in the MSCI ACWI Index has dramatically lowered valuations of companies across the US and Europe, but strategists ranging from Michael Wilson at Morgan Stanley to Robert Buckland at Citigroup Inc. expect stocks to fall further amid worries of high inflation, hawkish central banks and slowing economic growth, especially in the US.

Money is continuing to leave every asset class and the exodus is deepening as investors rush out of names like Apple Inc., according to Bank of America Corp. Historically significant technical levels for the S&P 500 show the index has room to fall nearly 14% more before hitting key support levels, while the share of companies that have so far hit a one-year low is still a far cry from the number during the economic growth scare that slammed stocks in 2018.

“Investors continue to reduce their positions, particularly in technology and growth stocks,” said Andreas Lipkow, a strategist at Comdirect Bank. “But sentiment needs to deteriorate significantly more to form a potential floor.”

On the other side, some say the rout has already created pockets of value across sectors including commodities and even technology, which is valued on future earnings growth and, therefore, generally shunned during periods of high interest rates. The Nasdaq 100 rallied on Friday, but it still closed the week down over 2%.

Goldman Sachs Group Inc.’s Peter Oppenheimer has been among the most high-profile strategists to say it’s time to buy the dip, while Thomas Hayes, chairman at Great Hill Capital LLC, said “old school tech” stocks including Intel Corp and Cisco Systems Inc. were now trading at attractive multiples.

But amid the morsels of value, the broader market looks to be buckling as recession creeps more and more into the conversation. And even as growth worries mount, the inflation focus at the Federal Reserve and other central banks means investors can’t count any more on the monetary elixir that’s helped to keep alive the long-running bull market.

The MSCI ACWI has fallen for six straight weeks, the Stoxx Europe 600 is down 6% since late March, while the S&P 500 has dropped more than twice as much.

Here are some key metrics showing the potential downside for stock markets.

Falling Fast

The S&P 500 is still about 14% above its 200-week moving average, a level that’s previously been a floor during all major bear markets, except for the tech bubble and the global financial crisis. Strategists at Canaccord Genuity say there could be further declines on Monday on forced margin selling after yet another red week for the US benchmark.

Stressing Out

For all the recent declines — the S&P 500 is down more than 13% from its high on March 29 — stress indicators also aren’t at levels seen during comparable slumps. Fewer than 30% of the benchmark’s members have hit a one-year low, compared with nearly 50% during the growth scare in 2018 and 82% during the global financial crisis in 2008.

In addition, the 14-day relative strength index suggests the S&P 500 isn’t yet at the floor. While the Stoxx Europe 600 Index entered into oversold territory last week, the US benchmark has not yet hit that level, which is generally a precursor to a rebound.

Getting Defensive

Defensive stocks have been in demand as the specter of slowing growth hammers economically sensitive cyclical sectors. The Stoxx 600 Defensives Index is flat in 2022 versus a 15% drop for cyclicals, and strategists at Barclays and Morgan Stanley expect that trend to continue. At UBS Wealth Management, Claudia Panseri sees pricing for a “mild recession” in the cyclical-versus-defensive relative performance.

Comparison with past periods of defensive strength also signals the potential for more to come. Relative gains this year still trail the performance in 2016, brought on by a slowdown in China and Brexit worries, and in the early days of the pandemic in 2020.

Cheap-ish

Although valuations of technology stocks have fallen sharply — the tech-heavy Nasdaq 100 now trades at about 20-times forward earnings, the lowest since April 2020 — some strategists expect them to remain under pressure from aggressive monetary tightening by central banks.

Tech stocks just suffered their biggest weekly outflows of the year, according to Bank of America. And even after the crushing price drops, Valerie Gastaldy, a technical analyst at Day By Day SAS, says the sector is at risk of losing another 10% before finding a floor.

“I don’t think we have seen capitulation just yet,” said Dan Boardman-Weston, chief executive of BRI Wealth Management. “This week has been pretty brutal, and investor sentiment, especially in the technology area, is shot to pieces. We’re going to have a tricky few weeks and months ahead.”

 

Updated: 4-29-2022

Amazon Stock Falls As Loss Rattles Investors

Shares tumble 14%, the largest one-day drop since July 2006.

Shares of Amazon.com Inc. tumbled Friday after the online retailer posted its first quarterly loss in seven years, wiping out billions of dollars from the company’s market value and weighing on major stock indexes.

Amazon’s shares fell 14% to $2,485.63 a share, the lowest closing price for the stock since June 2020 and its largest one-day drop since July 2006.

Megacap growth companies such as Amazon have enjoyed blockbuster earnings and stock performances for much of the past two years, as Americans hunkered down during the Covid-19 pandemic and relied heavily on technology.

Now, some of those trends are starting to reverse. Amazon on Thursday reported that its revenue in the first quarter rose about 7%, the slowest pace in about two decades, as consumers returned to prepandemic habits and spent more money in person at stores.

Investors watch earnings from Amazon and its large-cap tech peers closely, in part because of the outsize influence that their performance has on major indexes. Amazon alone accounts for 4.1% of the market value of the S&P 500, FactSet data show. The S&P 500 fell 3.6% Friday amid a decline from Amazon and other

The drop wiped out roughly $206 billion of Amazon’s nearly $1.5 trillion market capitalization.

U.S. technology companies are navigating a difficult environment as they try to get a handle on changing consumer habits, soaring inflation, labor shortages and supply-chain crunches. Even more, they are vulnerable to rising interest rates. Higher yields can make growth stocks less appealing because they reduce the value that investors place on future earnings.

It was a tough month for big technology stocks. The so-called FAANG stocks—which include Facebook owner Meta Platforms Inc., Apple Inc., Amazon, Netflix Inc. and Google parent Alphabet Inc.—along with Microsoft Corp. lost $1.169 trillion in market capitalization in April, according to Dow Jones Market Data.

That marks the largest one-month market-cap loss for the group since Meta, then Facebook, started trading in 2012.

Including Friday’s stumble, Amazon has fallen 25% this year, worse than the S&P 500’s 13% loss.

Netflix has plunged 68% year-to-date and tumbled severely after the streaming service reported it had lost subscribers in the first quarter. Alphabet is down 21% for the year. This week, the company posted its slowest sales growth since late 2020.

Of the megacap technology stocks, only Apple has performed better this year, with a loss of 11% in 2022. Its shares lost 3.7% Friday.

The iPhone maker on Thursday reported revenue that far exceeded analysts’ expectations, though the company cautioned that the resurgence of Covid-19 cases in China threatens to hinder sales by as much as $8 billion in the current quarter.

Amazon Will Close Six Whole Foods Stores In Four States

* Chicago Mayor Calls Decision ‘Disappointing,’ Cites Concerns
* Englewood Location Opened In 2016 With Great Fanfare

Amazon.com Inc. said it’s closing six Whole Foods Market locations in four states, almost two months after shutting dozens of bookstores and gift shops around the country.

The closed locations, out of more than 500 stores nationwide, are in Montgomery and Mobile, Alabama; Tarzana, California; Brookline, Massachusetts; and the Englewood and DePaul neighborhoods of Chicago, Amazon said Friday. Five stores will close by May 6 and the Englewood location will close in coming months.

“As we continue to position Whole Foods Market for long-term success, we regularly evaluate the performance and growth potential of each of our stores, and we have made the difficult decision to close six stores,” a Whole Foods spokeswoman said in an email. “We are supporting impacted Team Members through this transition and expect that all interested, eligible Team Members will find positions at our other locations.”

Amazon on Thursday said it had excess warehouse space and employees when explaining an unexpected first-quarter loss and a bleak outlook for the current period. Online sales dropped 3% in the quarter. The shares declined 14% on Friday, the biggest one-day drop since July 2006.

Revenue from physical stores, which is mostly Whole Foods, was one of the few bright spots from Amazon’s quarterly results, with sales of $4.59 billion, up 17% from a year earlier.

Amazon in March announced it would shutter its physical bookstores, “Amazon 4-Star” locations and mall pop-up kiosks to narrow its brick-and-mortar efforts to the grocery sector. The Seattle-based company made its biggest move into physical retail in 2017 with the $13 billion acquisition of Whole Foods Market.

Since then, the company has also launched its own Amazon Fresh supermarkets and now has more than 20 locations in California, Illinois and the mid-Atlantic region.

Chicago Mayor Lori Lightfoot on Friday said the decision to close the two stores in her city was “disappointing.” She expressed concern for the workers as well as the harm to some residents in communities who risk having few other choices for their grocery shopping. The mayor also said new uses will need to be found so the locations don’t remain empty.

“Together with both communities and local elected leaders, my administration will work to repurpose these locations in a way that continues to serve the community and support the surrounding businesses,” Lightfoot said in a statement. “We as a city will continue to work hard to close food deserts that meet community needs with community at the table.”

The Englewood location opened in 2016 with great fanfare by then Mayor Rahm Emanuel, who had advocated for it as a way to bring fresh food and economic opportunity to a lower income, minority community on the city’s South Side. Amazon this month opened a new Whole Foods near the Chicago River North and Gold Coast neighborhoods.

Updated: 5-17-2022

Walmart Flashes A Warning Sign To The Entire Consumer Economy

The world’s biggest retailer is known for being careful about costs. But that’s harder to do when prices for everything are going up.

Walmart Inc. just highlighted the dark side of inflation.

The world’s biggest retailer on Tuesday reported profit that fell short of Wall Street expectations and downgraded its outlook for full-year earnings per share from a mid-single digit increase to a 1% decline.

Chief Executive Officer Doug McMillon said the bottom-line results were “unexpected” and reflecte the “unusual” environment. Walmart shares tumbled more than 11% on Tuesday, the most in 35 years.

The outcome is certainly surprising — and it should be a warning sign for the broader consumer economy.

Inflation is usually a benefit to supermarkets and consumer-goods companies, as higher prices elevate the value of their sales. If they can keep volumes stable, then their same-store sales automatically rise. Indeed, this is exactly what happened at Walmart: US same-store sales excluding fuel rose 3% compared with a year ago, topping analysts’ estimates of a 2% increase.

But higher staff costs, bloated inventories and more expensive fuel took their toll on profits. Each accounted for about a third of the shortfall.

First, Walmart’s wage bill expanded. It hired many employees at the end of last year to cover for staff who were out sick with the Covid omicron variant. But they recovered in the first half of the quarter, which meant the company had weeks where it was overstaffed.

Second, it sold less clothing and home furnishings than expected, and these are some of its more profitable categories. It had stocked up on such items amid last year’s supply chain snarl-ups, and inventories were up about a third to $61.2 billion.

Finally, it had to pay $160 million more for fuel in its U.S. business, and it could not pass this through to store prices as quickly as it had hoped.

The results are unusual, though, because Walmart has been famously cost-conscious. Its frugal philosophy is a big part of why it’s able to charge low price.

If Walmart is struggling even with its thriftiness and superior scale, then smaller and less efficient retailers are in for a very difficult time — not least because there was another note of caution in Walmart’s first quarter announcement.

The squeeze of inflation on discretionary incomes is starting to affect what consumers buy. Because Americans were having to spend more on food, they cut back on clothing and home furnishings more than Walmart had expected. Unseasonably cool weather, affecting items such as apparel and patio furniture, didn’t help either.

Walmart isn’t the only retailer to feel the pinch of high prices. While Home Depot Inc. reported better-than-expected first-quarter sales and saw an 11% increase in the average amount that each consumer spent in the first quarter, the number of customer transactions fell by 8%.

And the big-box bloodbath continued on Wednesday when Target Corp. cut its full-year margin forecast from at least 8% to to 6%. It said fuel and freight costs were $1 billion more than expected in the first quarter, and it saw little sign of the surge in expenses easing. The shares fell more than 20% in pre-market trading.

Despite the pressures on Walmart and Target, the retailers are relatively well placed to weather the storm. The share price falls look overdone.

Walmart should be able to work through its high stock levels in the coming quarters. It helps that it is facing these issues at the start of the summer season rather than the end. And its focus on value should help it win over more customers.

While some shoppers will inevitably trade down, or put fewer items into their baskets, others will move from pricier retailers to Walmart. Even though inflation increased the average amount each customer spent, the number of transactions in stores also rose slightly versus a year ago.

Meanwhile, Walmart’s scale means it should have more clout with suppliers, such as Procter & Gamble Co. and Nestle SA, as they try to pass down their own cost increases. That should help the retailer manage food price inflation.

And Target is one of America’s best-run retailers, and it has been doing many of the right things to attract consumers, such as refurbishing its stores and using them as delivery hubs for online orders.

Of course there are dangers, particularly the rise of the German no-frills supermarkets, Aldi and Lidl, which are expanding across the US. and competing on the same battleground of stable, low prices.

But if Walmart and Target are feeling the effect of the stretched consumer, other retailers have much more to worry about.

The big surprise, however, came from grocery giants Walmart and Target, both of which saw the biggest intraday declines since the weeks prior to the 1987 “Black Monday” market crash.

At the time of writing, WMT was down over 15% in five trading days, while TGT was nearing 25%. Both came after reports of deteriorating earnings amid a squeeze on consumer spending from inflation.

“Bear market rallies can last weeks or just a few days. The combo Walmart/Target bombs indicate the U.S. consumer might not be as healthy as thought. The 3-day rally could be over,” Fred Hickey, editor of The High-Tech Strategist, told Twitter followers on the day.

 

Updated: 5-18-2022

Target Hit By Worst Rout Since Black Monday As Margins Sag

* Company Sees Lower Operating Margin Amid Squeeze On Costs
* Share Plunge Drags Down Other Retailers, Hits Broader Market

Target Corp. plunged the most since 1987’s Black Monday crash after becoming the second big retailer in two days to trim its profit forecast.

A surge in costs during the first quarter shows little sign of easing, Chief Executive Officer Brian Cornell said. Operating profit will amount to only about 6% of sales this year, 2 percentage points below the previous forecast, Target said Wednesday. And the company’s first-quarter adjusted profit missed the lowest of 23 analyst estimates compiled by Bloomberg.

“We were less profitable than we expected to be, or intend to be over time,” Cornell said in a briefing. “Looking ahead, it’s clear that many of these cost pressures will persist in the near term.

Target’s worsening outlook echoes the darker panorama at Walmart Inc., which cut its profit forecast on Tuesday and also posted its biggest stock decline since 1987.

Target’s fuel and freight costs soared in the first quarter while a shift in consumer spending caused a sharper-than-expected slowdown in apparel and home-goods sales, prompting the company to mark down bloated inventories.

“For the last two years, these guys have done nothing but blow out expectations,” said Brian Yarbrough, a retail analyst at Edward Jones. “In one quarter, that’s all wiped away. Now it’s a ‘show-me’ story.”

Target sank 25% to $161.61 at the close in New York, the worst plunge since Oct. 19, 1987, an infamous market collapse known as Black Monday. The shares had fallen 7% this year before the results, outperforming a 26% drop in an S&P 500 index of consumer-discretionary stocks.

Target is now trading at its lowest level since late 2020, giving back much of its pandemic-era gains. The share plunge dragged down other retailers as well and provided fuel for the biggest market rout in almost two years. Costco Wholesale Corp., Dollar General Corp. and Dollar Tree Inc., which are preparing to report results next week, all posted double-digit declines.

Investors received another dose of bad news after the close when Bath & Body Works Inc. slashed its profit outlook. The company cited inflation as well as a decision to boost investment in information technology and its customer loyalty program. The shares slumped 4.5% in after-hours trading at 4:43 p.m. in New York.

The retailers’ results reinforced how profitability is starting to erode across the industry.

“The Target margin shortfall is more dramatic than what Walmart posted on Tuesday and clearly there are some industrywide/macro problems occurring,” Adam Crisafulli, an analyst at Vital Knowledge, said in a report. “Food/gas inflation are drawing dollars away from discretionary/general merchandise, forcing aggressive discounting to clear out product.”

On a conference call to discuss earnings, Barclays Plc analyst Karen Short questioned why Target was cutting its outlook so soon after an upbeat investor meeting in early March. Cornell said the company “did not anticipate the rapid change in conditions” that has occurred since then.

Adjusted earnings tumbled to $2.19 a share during the three months ending in late April, the Minneapolis-based retailer said in a statement. Analysts had been expecting $3.06 on average.

Like Walmart, Target reported robust sales as US consumers powered ahead despite the highest inflation in four decades. Target’s comparable sales climbed 3.3% in the first quarter, almost three times the average of analyst estimates compiled by Bloomberg. Revenue rose 4% to $25.2 billion. Wall Street had expected $24.3 billion.

‘Dramatic Change’

But strong demand for food and beverages, beauty products and household essentials went along with “lower-than-expected sales in discretionary categories,” Target said. That’s a sign that shoppers are pulling back as they struggle to buy basic goods. Cornell said customers are buying more of Target’s store brands, a common strategy for shoppers seeking bargains.

The CEO also cited a “dramatic change in sales mix” as the Covid-19 pandemic abates. Customers who bought television sets or kitchen appliances last year might be purchasing restaurant gift cards or luggage for upcoming trips this year, he said.

The value of Target’s inventory surged 8.5% from the previous quarter and 43% from a year earlier. Retailers generally try to avoid piling up inventory because it can incur costs. Indeed, inventory impairments were one of the causes of the company’s lower-than-expected profitability. Chief Financial Officer Michael Fiddelke said additional markdowns are likely in the current quarter.

Freight, Wages

“Unexpectedly high costs” are another challenge, Target said. During the current quarter, operating margins will be similar to the first-quarter result of 5.3%, according to the Minneapolis-based company. Analysts had been expecting 9.5%.

Cornell and Chief Financial Officer Michael Fiddelke reiterated their confidence in Target’s long-term ability to earn operating margins of 8% even as they abandoned that goal for this year. Fiddelke said the company has been raising some prices, although it’s also trying to avoid turning off customers with big increases.

“We have seen prices rise, but it is the last lever we pull,” he said. “You’ll see us continue to use all the levers.”

 

Walton Family Loses $34 Billion In Two Days, As Walmart Stock Continues Nosedive

The Walton heirs have lost a staggering $33.7 billion in the last two days as shares of their family’s retailing giant, Walmart, continue to be pummeled.

The reason for the carnage? The company said on Tuesday that its profits had been slammed by higher costs on everything from products to shipping to labor. As a result, net income for the quarter through April fell 25% from a year ago, with earnings per share coming in below analyst estimates.

Investors reacted badly, causing the stock to slide 11.4% yesterday, the worst single-day decline for the company since 1987. The wipeout didn’t end there, with shares falling nearly 7% on Wednesday. While the market was down broadly on Wednesday, that was steeper than the 4% loss suffered by the S&P 500.

“Our first-quarter performance is a disappointment to us, and we’re going to put it behind us and have a strong year,” said Walmart CEO Doug McMillon on the company’s earnings call.

The brunt of the decline was born by Jim, Rob and Alice Walton, children of founder Sam Walton, who saw $9 billion apiece wiped from their fortunes in the last two days.

The fortune of their sister-in-law Christy Walton, wife of deceased brother John, contracted by more than $1 billion. Her son Lukas, who received a larger share of his father’s estate, saw his net work knocked down by over $2 billion.

Ann Walton Kroenke and sister Nancy Walton Laurie, who inherited a stake in the company from their father Bud Walton (brother to Sam), also lost over $1 billion each.

The Waltons, who together own about half of Walmart’s stock, are still plenty rich, with a cumulative fortune of $212 billion as of late Wednesday, Forbes estimates. Jim remains the world’s 19th richest person in the world with a net worth of $59 billion, followed by sister Alice (No. 20 with $58.1 billion) and brother Rob (No. 21 with $57.9 billion).

Walmart Witnesses Biggest Crash In 25 Years, Consumer Stocks Follow

All eyes were on Walmart (NYSE: WMT) as the retail giant reported its much-anticipated Q1 results. Considering how worried investors are about the state of the markets, retailers like Walmart are considered one way of gauging the health of our economy. On that note, Walmart and other consumer stocks plunged after the retail giant’s Q1 results proved disappointing.

Walmart saw a 25% drop in quarterly earnings, with earnings per share coming in at $1.30 compared to Wall Street’s $1.48 EPS target.

Revenues were slightly better than expected, $141.6 billion versus $138.9 billion expected, but markets right now place more importance on hitting earnings targets than revenue targets. That’s especially the case now, with investors migrating away from growth stocks and into value investments.

So far this quarter, we’ve seen reoccurring theme amongst companies whose Q1 results fell short. Generally, it’s a combination of rising costs, specifically fuel, as well as rising labor prices, that tend to be the main explanations we see for why some companies seem to be struggling right now. Lingering supply chain issues and growing inventories have also been a problem in the retail world.

All of these were reasons cited by Walmart’s management on Tuesday as to why the company’s results were underwhelming. At the same time, management was quick to claim that investors were overreacted to the news as well.

While the earnings miss came as a disappointment to many, some experts aren’t too worried about this earnings miss. Many think this will be just a one-time thing, especially as Walmart has a history of doing well during bear markets.

“We don’t expect this miss to become a norm, seeing that Walmart has historically outperformed competition during tough economic times,” said analyst Arun Sundaram on Tuesday.

Despite this, the news was enough to send Walmart crashing. Shares plunged more than 11.4% over the course of the day, marking the worst single-day performance in over 25 years. The Dalton family lost over $17 billion alone in today’s selloff.

We’ve already started seeing headlines about how Walmart’s earnings miss could be a warning sign of further pain in the retail sector.

Other related consumer stocks were down as well following the Walmart news. Target (TGT), Dollar General (DG), and Dollar Tree (DLTR) were all down a few percent as well following the Walmart miss.

Updated: 5-19-2022

Retail Stock Meltdown Shows Signs of Seeping Into Junk Bonds

* Debt From Macy’s, Bath & Body, Neiman Marcus Is Slumping
* Walmart, Target Just Saw Massive Stock Routs After Earnings

Retailers have gotten smacked in the US stock market this week amid worrisome earnings reports from Walmart Inc. and Target Corp. — and the pain is spreading to the industry’s bonds.

Macy’s Inc.’s notes maturing in 2029 and 2030 hit record low prices below 87 cents on the dollar on Thursday, according to Trace. Bath & Body Works Inc.’s unsecured bonds dropped after the company cut its earnings outlook. Neiman Marcus, which traded at par as recently as May 4, saw its 2026 bonds slip below 95 cents.

Bonds tend to hold up better than stocks during market routs, so the decline is potentially a bad sign and could signal investors are starting to get worried interest payments will be harder to make amid an economic slowdown. Retailers are grappling with escalating costs amid spiking inflation.

Walmart and Target both generated an enormous amount of concern about retailing this week. Both saw their stocks post the biggest one-day drops since October 1987 after they warned about a spending slowdown.

Soaring inflation has put pressure on retailers who are holding at least 20% more inventory than they have on average over the past three years, according to Bloomberg Intelligence analyst Mike Campellone, citing it as a “risk to profitability if consumer demand wanes.” Inventory is likely to swell more after earnings finish, he added.

“High inflation and labor costs add to this risk, and could negatively affect the credit metrics of investment grade and high-yield retailers,” he wrote in a note earlier this month.

Retail bonds are the worst performing sector in high-yield so far this year. The industry has collectively plunged 16% on a total return basis, according to data compiled by Bloomberg. That compares to an 11% loss for the overall Bloomberg high yield index.

Updated: 5-20-2022

Retailer Rout Erased $500 Billion, Stirs Worry of More Ahead

* Walmart And Target Plunged 19% And 29% Respectively This Week
* Dollar General, Macy’s And Costco Have Yet To Report Earnings

The wild swings in consumer stocks this week that erased about $500 billion in market value are far from over with earnings reports from well-known retailers including Dollar General Corp., Macy’s Inc. and Costco Wholesale Corp. still to come.

Volatility in consumer stocks reached levels not seen since the early days of the pandemic-driven rout as retailers from Walmart Inc. to Target Corp. cut their annual profit forecasts and stoked concern over the impact of rising inflation and the challenge to pass on higher costs to consumers.

Walmart and Target each posted their biggest one-day declines since 1987 after their results, with selloffs of 19% and 29%, respectively, this week. Given Walmart’s drop, Procter & Gamble Co. has overtaken the retailer as the biggest company in the S&P 500 Consumer Staples Index by market value.

Ross Stores Inc. was the latest to trim its forecasts for comparable sales and profit, fueling its biggest decline on record in data going back to 1985.

“The implications for retailers that have yet to report are not promising,” said John Zolidis, president of Quo Vadis Capital, after Walmart and Target’s bleak updates. Several brokerage firms, including Truist Securities and Oppenheimer, have trimmed profit expectations for retailers that have yet to release quarterly results, including Dollar General and Costco.

Gap Inc., which will report earnings after markets close on May 26, forewarned investors last month, slashing its quarterly sales outlook on “macroeconomic dynamics” and execution challenges at its Old Navy brand.

Here’s A Look At Some Of The Other Notable Retailers Slated To Report Next Week:

Macy’s Inc.

The department store operator will report first-quarter results ahead of the bell on May 26. The stock is down 31% this year, after more than doubling in 2021 with the company benefiting from pent-up demand as consumer mobility resumed. Shares are likely to be volatile after earnings, with an implied one-day move of 14%, according to data compiled by Bloomberg.

Dollar General Corp.

The discount retailer also reports earnings on May 26. Its stock is expected to move more than 8% in either direction after it releases results, data compiled by Bloomberg show. That’s bigger than the moves seen after the past eight quarterly reports were issued. Dollar General has declined 20% this year.

Costco Wholesale Corp.

All eyes are on Costco after peer BJ’s Wholesale Club Holdings Inc. bucked the trend this week and reported earnings and sales that grew in the quarter. As one of a few retailers that still reports monthly sales, the company’s April net sales increased 13.9% year-over-year after climbing 18.7% in March. Costco, which is due to report after the bell on May 26, has slumped 27% this year.

Updated: 5-21-2022

Amazon Aims To Sublet, End Warehouse Leases As Online Sales Cool

* Company Wants To Shed At Least 10 Million Square Feet Of Space
* Amazon Spooked Investors Last Month After Saying It Overbuilt

Amazon.com Inc., stuck with too much warehouse capacity now that the surge in pandemic-era shopping has faded, is looking to sublet at least 10 million square feet of space and could vacate even more by ending leases with landlords, according to people familiar with the situation.

The excess capacity includes warehouses in New York, New Jersey, Southern California and Atlanta, said the people, who requested anonymity because they’re not authorized to speak about the deals.

The surfeit of space could far exceed 10 million square feet, two of the people said, with one saying it could be triple that. Another person close to the deliberations said a final estimate on the square footage to be vacated hasn’t been reached and that the figure remains in flux.

Amazon could try to negotiate lease terminations with existing landlords, including Prologis Inc., an industrial real estate developer that counts the e-commerce giant as its biggest tenant, two of the people said.

In a sign that Amazon is being careful not to cut too deeply should demand quickly rebound, the 10 million square feet the company is looking to sublet is roughly equivalent to about 12 of its largest fulfillment centers or about 5% of the square footage added during the pandemic. In another signal that Amazon is hedging its bets, some of the sublet terms would last just one or two years.

The company declined to say which space it plans to sublet or confirm the amount.

“Subleasing is a very common real estate practice,” spokeswoman Alisa Carroll said. “It allows us to relieve the financial obligations associated with an existing building that no longer meets our needs. Subleasing is something many established corporations do to help manage their real estate portfolio.”

Prologis declined to comment.

Amazon spooked investors last month after reporting slowing growth and a weak profit outlook that it attributed to overbuilding during the pandemic when homebound shoppers stormed online. At the end of 2021, Amazon leased 370 million square feet of industrial space in its home market, twice as much as it had two years earlier.

In the April earnings report, the company said it expected the excess space to contribute to $10 billion in extra costs in the first half of 2022. The company didn’t divulge how much over-capacity it had, where it was located or what it planned to do with it. Subleasing surplus space is one way for Amazon to trim costs on space it no longer needs.

Amazon tasked the real estate firm KBC Advisors to evaluate the warehouse network and determine where to sublet and where to terminate leases, two of the people said. Both options carry costs.

Subletting warehouse space requires Amazon to remove all of its equipment so the new occupant can tailor it to their own needs. Lease terminations typically require the tenant to pay a percentage of the rent that would be due over the full term of the agreement.

It shouldn’t be hard to find tenants. The vacancy rate for industrial space is below 4%, an all-time-low, and rents were up 17.6% at the end of 2021, according to a February report from Prologis.
A $5 Trillion ‘Wealth Shock’ Is Cracking Americans’ Nest Eggs

* Outsized Wealth Gains That Worsened Inequality Now In Reverse
* Housing Downturn Seen Having Broader Impact As Rates Surge

The world’s richest nation is waking up to an unpleasant and unfamiliar sensation: It’s getting poorer.

Americans’ collective net worth had been climbing at a dizzying rate for the past two years, even as families and businesses contended with the ravages of Covid-19. Households piled up an extra $38.5 trillion from early 2020 to the end of last year, bringing their collective net worth to a record $142 trillion, the Federal Reserve estimates.

Just as the US is learning to live with the virus and spending shifts back toward pre-pandemic normal, it faces a new scary threat: A plunge in wealth since the start of 2022 that JPMorgan Chase & Co. estimates totals at least $5 trillion — and could reach $9 trillion by year-end.

So far, the richest Americans have borne the brunt, with US billionaire fortunes down almost $800 billion since their peak amid the sharp losses in stocks, crypto and other financial assets. But surging interest rates are also starting to rattle the housing market, where middle- and working-class families have the bulk of their wealth.

It all adds up to the sudden removal of a major prop to confidence: ever-bigger nest eggs. And it’s by design. To stamp out the highest inflation in decades, the Fed needs Americans to curb their spending, even if it requires an economic slowdown to get there.

“It’s painful to get back to normal after really being in a fantasy world last year,” said John Norris, chief economist at Oakworth Capital Bank. “It’s going to feel a lot worse than it actually is.”

Since the start of the year, the S&P 500 Index is down 18%, the Nasdaq 100 has lost 27% and a Bloomberg index of cryptocurrencies has plunged 48%.

That all amounts to “a wealth shock that is set to drag on growth in the coming year,” JPMorgan economists led by Michael Feroli wrote in a note Friday.

Fed Chair Jerome Powell and his colleagues have repeatedly said they’re actively aiming for such a slowdown, leaving it unlikely policy makers will move to address the Great Wealth Drop of 2022.

Billionaires were the biggest winners of 2020 and 2021. Now they’re losing more than almost everyone else. The Bloomberg Billionaires Index, a daily measure of the wealth of the world’s 500 richest people, has dropped $1.6 trillion since its peak in November.

Leading the way are the Americans on the index, who have lost $797 billion since their peak. Perhaps the most humbled by it all is the world’s richest person, Elon Musk.

He’s lost $139.1 billion, or 41% of his wealth, since November, when his net worth briefly surpassed $340 billion. Amazon.com Inc. founder Jeff Bezos, the second-richest person, lost $82.7 billion, or 39% of his peak wealth.

While the wealth losses among the top 0.001% reduce inequality, that won’t be much comfort to most people who worry about the U.S.’s widening disparities.

“In a relative sense, it’s going to make the inequity a little lower — but in an absolute sense, everyone suffers,” said Reena Aggarwal, director of Georgetown University’s Psaros Center for Financial Markets and Policy.

Like many, Aggarwal is concerned that falling markets will create problems for the broader economy. “Some correction was needed but this is a pretty huge correction, and it’s not stopping.”

A downturn in housing — made likely by a surge in mortgage rates to the highest since 2009 — threatens wider reverberations. Over the last decade, the robust real estate market added $18 trillion in market value to owner-occupied home valuations.

US spending has been lifted in recent years by owners tapping the enhanced values of their homes for cash. The practice of home equity extraction likely came to a halt this year. More than 40% of refinancings in the final quarter of last year saw homeowners pull cash out of their homes.

Real estate is far more evenly distributed than financial wealth. The top 1% owns more than half of U.S. holdings of stocks and mutual funds, and the bottom 90% owns less than 12%, according to Federal Reserve estimates. By contrast, in real estate the bottom 90% owns more than half of the total, while the top 1% holds less than 14%.

“Higher home prices and sharply higher mortgage rates have reduced buyer activity,” Lawrence Yun, National Association of Realtors chief economist, said in a statement Thursday. “It looks like more declines are imminent in the upcoming months.”

What Bloomberg’s Economists Say…

While the plunging stock market will dent consumers’ net worth this year, the residual effect of last year’s surge in asset values — and the resilience in home prices so far this year — are major offsetting factors supporting consumption. As a result, personal spending is expected to grow faster this year than before the pandemic, even after the removal of fiscal stimulus.

— Yelena Shulyatyeva, Economist

It could take a while before Americans realize that their pandemic home-price gains have evaporated. Even the stock market selloff could take a while to translate into spending in a way that could tip the U.S. into recession.

“A general selloff in the equity market may have a dampening effect,” said Chris Gaffney, president of world markets at TIAA Bank, but there’s a lag for investors. “They look at their statements on a quarterly basis and all of a sudden they say, ‘Oh my goodness, my stock-market portfolio is down 20%, maybe I shouldn’t take that vacation,’ or ‘Maybe I shouldn’t buy that larger TV or a new car.’”

 

The Market Is Melting Down And People Are Feeling It. ‘My Stomach Is Churning All Day.’

Many are watching investments they meant for down payments, tuition or retirement shrink day after day.

The last time Todd Jones heard this kind of panic in his clients’ voices, it was 2008 and the global financial system was on the brink of collapse.

Mr. Jones, the chief investment officer at investment advisory firm Gratus Capital in Atlanta, now finds himself fielding similar calls. Two clients, both retirees, asked him this month to move their portfolios entirely to cash. Mr. Jones persuaded them to stay the course, saying the best way for investors to achieve their goals is to still be in the market when it eventually rebounds.

“Those people were not in a good place,” said Mr. Jones, 43. “They had a lot of anxiety about goals and dreams and being able to live their lifestyles.”

Stocks, bonds and other assets are getting hammered this year as investors wrestle anew with the possibility that the U.S. is headed toward recession. On Friday, the Dow Jones Industrial Average recorded its eighth straight week of declines, its longest such streak since 1932. The S&P 500 flirted with bear-market territory.

Families are watching the investments they meant for down payments or college tuition or retirement shrink, day after day.

They’ve seen big retailers like Walmart and Target record their steepest stock drops in decades this week, after earnings that signaled an end to the pandemic spending boom.

The market turmoil has scared corporate chieftains away from taking their companies public. In Silicon Valley, dreams of multibillion-dollar valuations have been replaced by the reality of layoffs and recoiling investors.

Stock prices have been hurt by forces that appear in nearly every cycle, such as rising interest rates and slowing growth. There are also idiosyncratic ones, including the rapid return of inflation after decades at a low ebb, a wobbling Chinese economy and a war in Ukraine that has shocked commodity markets.

The Federal Reserve has raised interest rates twice this year and plans to keep doing so to curb inflation, but that makes investors worry it will slow the economy too fast or by too much.

To investors it can feel there is no safe place. While the vast majority of individual investors are holding steady, that is in part because customary alternatives don’t offer much relief. Bonds, normally a haven when stocks are falling, have also been pummeled. The cryptocurrency market, pitched as a counterweight to traditional stocks, is sinking.

For Michael Hwang, a 23-year-old auditor in San Francisco, the market’s tumble means he could wind up taking out loans to get an M.B.A. He has been hoping to pay his tuition out of pocket when he eventually goes back to school.

For Arthur McCaffrey, an 80-year-old retired research scientist from Boston, it means wondering if he’ll live to see his investments recover.

Rick Rieder, the head of fixed income at giant asset manager BlackRock Inc., likened the state of financial markets to a Category 5 hurricane. The veteran bond trader has been in the business for three decades and said the rapid price swings are unlike anything he has seen.

“My stomach is churning all day,” he said. “There are so many crosscurrents of uncertainty, and we aren’t going to get closure on any of them for weeks, if not months.”

Investors are used to the Fed stepping in to calm markets, but many of the dynamics rattling stocks, bonds, currencies and commodities are out of the central bank’s control, said Mr. Rieder: “The Fed can’t solve the supply shortage of corn or fertilizers, or the inability to get natural gas into Europe. They can’t build a sufficient inventory of homes.”

The plunge is a U-turn from stocks’ runup in 2020 and 2021. Then, unusually low interest rates and a surging money supply—byproducts of the government’s efforts to stave off a downturn—pushed stock indexes to repeated new highs. Some investors say the decline was long overdue and, now that it has arrived, could be difficult to repair.

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Melissa Firestone, a 44-year-old economist specializing in the energy market, sold many of her individual stocks and bought a fund that shorts the S&P 500, betting on a drop.

“The Fed is going too far, inflation is a nightmare and the real-estate market is going to crash,” she said.

Keith Yocum, a novelist and retired publishing executive who is 70, moved a third of his savings into money-market funds last year. Mr. Yocum doesn’t love keeping so much money in cash, especially with inflation eroding its value, but sees few better options.

In October, when stock prices were still hitting records, Craig Bartels moved most of his 401(k) and individual retirement account savings into money-market funds. Soon, he sold his cryptocurrency holdings and started shorting homebuilding stocks and Tesla Inc. through a brokerage account.

A 46-year-old real-estate broker in Zionsville, Ind., Mr. Bartels had looked to the distant past for advice, reading Ray Dalio’s recent book on economic history and Adrian Goldsworthy’s “How Rome Fell: Death of a Superpower.”

“This sounds like us right now,” he thought.

His 20-year-old son, a college student, had told him he was trading a few thousand dollars through a Robinhood account. To Mr. Bartels, it looked like another sign of a coming reckoning.

A generation earlier, he was a day-trading college student himself. He did well, he said, but knew many who were “throwing money at internet stocks and had no idea what they were doing.” The dot-com bubble of the late 1990s soon popped. Today, Mr. Bartels is happy he changed course when he did. “I don’t think we’re anywhere near the bottom,” he said.

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Don McLeod, a former research manager at a Manhattan law firm, retired four years ago when the markets were strong. He checked his 401(k) account almost every day with glee.

When stocks started to turn in January, he continued checking daily out of fear, until the losses became too steep. By early May, his retirement accounts had fallen 25% in five months.

Mr. McLeod hopes the U.S. isn’t headed for a repeat of the “stagflation” of the 1970s. “When you’re banking on that money saved over your lifetime to carry you through and it starts to go away, you feel helpless,” he said. “I don’t want to go back to work at 66.”

Susan Wagner, a recent retiree who moved from Chicago to New Mexico’s Rio Rancho with her wife in 2020, took their retirement money out of the markets altogether this month.

“The anxiety was literally me losing sleep, tossing and turning at night wondering how much more we were going to lose,” Ms. Wagner said. Her wife, a former radiologist, was hesitant but eventually agreed. “It was too nerve-racking, and I was quite emotional about it,” Ms. Wagner said. “I was very upset by what was happening.”

Jim Cahn, chief investment officer of Wealth Enhancement Group in Minneapolis, said his clients are more nervous now than in 2008, the year of the financial crisis. The question he’s getting: “Where can I go to stop getting poorer?”

The firm held webinars for clients in the market’s frothiest days last year, warning against loading up on tech stocks and highflying pandemic names such as Peloton, Mr. Cahn said. Lately the webinars have a different theme: Don’t panic.

The firm is looking at commodities, which tend to protect against inflation and are getting a boost from the war in Ukraine, and municipal bonds, which Mr. Cahn said are starting to look attractive.

Technology shares that soared in recent years, like Facebook parent Meta Platforms Inc. and Netflix Inc., have been hit especially hard. Dismaying results or darkening outlooks have cratered tech stocks and, at painful moments, helped pull down the broader market.

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There have been so many bad days they’ve started to blur together, said Sonu Kalra, portfolio manager of Fidelity Investments’s Blue Chip Growth Fund.

Mr. Kalra was sitting in his suburban Boston home office in early February when Meta shocked Wall Street with disappointing earnings. As he watched its shares slide in after-hours trading, he felt angry at himself for failing to heed earlier warning signs.

“You feel a lot of pain and start questioning: ‘What could I have done differently?’ ” he said. “But you can’t cry over spilled milk. You have to move forward.”

At the time, he thought Meta’s issues were idiosyncratic and not a sign of a broad withdrawal from growth stocks. That came later, when Russia’s invasion of Ukraine sent energy prices higher. “Oil permeates everything,” he said.

On Wednesday, Cole Smead, a portfolio manager at Smead Capital Management Inc., woke up early in Phoenix. Target, whose stock makes up about 5% of the Smead Value Fund, was set to report earnings. Target stock was down double digits in premarket trading. Mr. Smead put on a suit and headed in to his office.

That morning, Target hovered at 25% below Tuesday’s close. Mr. Smead decided it wasn’t productive to stare at a screen and watch his fifth-largest position in freefall. He picked up a book, the biography of George Hearst, the silver miner father of William Randolph Hearst.

“I figured he’ll probably teach me more than the markets will teach me that day,” he said.

Conventional investing wisdom says that over time, stock markets go up. Countless investors watched their savings grow by staying put in a market that rose sharply in the decade after the financial crisis. Those who held tight when the market crashed in early 2020 were rewarded when stocks resumed their upward climb within weeks.

To some market players, this year’s decline feels different. The government’s extraordinary stimulus measures that pushed the economy into a V-shaped recovery in 2020 have largely run out, replaced by policies aimed at controlling inflation.

While the debate about whether a recession is on the way is far from settled, there is broad consensus the U.S. has entered a period of slower growth.

Mr. McCaffrey, the 80-year-old retired research scientist, has been buying Apple shares in recent weeks, automating the purchases for when the price is below a certain level. But overall, watching shares of his favored tech companies erode has been a gloomy experience. Apple is down 23% so far this year.

“It’s getting worse for people in my age group,” Mr. McCaffrey said, “simply because we don’t have time to wait for it to come back.”

It takes a lot to shake Kevin Landis, a fund manager whose tech-focused fund was battered by the tech wreckage of the early 2000s. But when Netflix announced disappointing quarterly results in April, Mr. Landis, sitting in his home office overlooking his tranquil suburban San Jose backyard, felt as if he’d been hit by an earthquake.

Mr. Landis had reason to be concerned: Roku, another streaming company, made up 14% of his tech fund at the end of March. He says he hasn’t sold any shares, even though Roku’s stock has sunk by nearly 60% this year.

“Probably the defining difference this time is last time I could just storm out of the office and go home,” he said. “This time, I’m working from home. So there’s no escaping it.”

Updated: 6-7-2022

Target Tries To Save Itself By Putting Everything On Sale

The retailer is caught in the crossfire between inflation and a sudden inventory glut.

Andrea Felstead writes that the retailer has cut its outlook yet again, due to “a glut of inventory” and “a rapid shift away from pandemic purchasing patterns.” Target’s home page this afternoon tells the grim tale:

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That is a total of eight “% off” mentions and six “deals” that aren’t to be missed. The story here is in some ways pretty simple: Retailers spent the entirety of 2021 looking at empty shelves, wondering whether any of their L.O.L. Surprise! Doll orders would actually make it out of the shipping container nightmare alive.

So they got a little impatient and just started to place other orders — Barbie Zoologists!? — hoping something, anything would arrive.

So now these stores are swimming in a sea of mediocre merchandise just as Jamie Dimon’s contested “economic hurricane” approaches landfall. Target is choosing to clear its racks through sales in the hope it can acquire new inventory that customers actually want to buy. It’s a gamble that just might pay off.

Target’s Oversupply Problem Should Scare All Retailers

The retailer is known as one of America’s best-run stores. But lately it keeps missing the mark on what consumers want.

Target Corp. is off target again.

Just three weeks after a profit warning that saw its shares plunge the most since 1987, the big-box operator has cut its outlook again, as it seeks to address a glut of inventory amid a rapid shift away from pandemic purchasing patterns.

The company now expects a second-quarter operating margin of about 2%, compared with its previous guidance of a wide range around the first quarter’s 5.3%. Even if the margin recovers to 6% in the second half of the year, as the company expects, that puts the full-year guidance of an operating margin around 6% in peril.

The shares fell as much as 7.8% on Tuesday morning before recovering slightly.

Too much stuff in stores and warehouses is an industry-wide problem, with retailers from Walmart Inc. to Gap Inc. and Macy’s Inc. suffering from a combination of late orders, changing consumer tastes and inflation, which increases the value of the stock on their balance sheets.

Target has taken the decision to aggressively clear excess inventory and preserve the appeal of its stores to consumers. Nobody wants to shop in cluttered, unattractive shops, particularly when there are so many alternatives, including online. Rather than mothball stock, as some rivals are doing, it is trying to quickly get rid of unwanted products.

The hope is that additional markdowns and cancelling orders will lance the boil. That would put Target in better shape for the second half of the year, which includes important events such as the back-to-school shopping season, Halloween and the winter holidays.

That’s commendable, but risky.

Demand may not be sufficient to mop up the excess stock, given that consumers are being forced to spend more on essentials and so have less left over for the things they simply want. Target said it continued to expect full-year revenue growth in the low to mid-single-digit percentage range.

More worrying is that retailers are approaching the point when they must place orders for the holiday season. Target said it was working with suppliers to shorten lead times.

Even so, judging the shape of holiday demand will be particularly challenging this year, given the uncertainties around what types of products consumers will be buying, and whether spending power will be constricted by rising food and fuel prices, as well as savings being depleted by a summer of renewed travel.

Ordering too much could make the inventory glut worse, but being too conservative could mean missing out in the crucial shopping period.

Target is one of America’s best-run retailers, and over-buying for this spring summer season was quite a strategic misstep. The company would be wise to err on the side of caution.

 

Updated: 6-8-2022

Target CEO Says Unloading Excess Inventory Is A Necessary Pain

Brian Cornell’s decision to shed excess goods quickly is the latest abrupt strategy shift for the CEO.

Target Corp. Chief Executive Brian Cornell made a decision this week that followed a familiar pattern in his career: an abrupt shift that was second-guessed by some investors.

He hopes it pays off in the long run, the way similar moves have in the past.

Mr. Cornell, who joined Target as CEO in 2014, surprised some investors on Tuesday when he said the retailer would report lower profits this quarter because it will move to quickly shed excess inventory due to shifting buying patterns.

The news came less than three weeks after Target reported lower-than-expected profits, in part due to the cost of managing bloated inventory. Now the company will quickly cancel orders or sell products at a discount during the current quarter, eating further into profits, Mr. Cornell said.

Other retailers with too much inventory on hand—including Walmart Inc., Macy’s Inc. and Gap Inc.—have said they would discount some items and hold on to others to sell at a seasonally appropriate moment.

“We have to be decisive and get out in front of this to make sure this doesn’t linger through the back half of the year,” Mr. Cornell said in an interview earlier this week. Target’s stock sank 7% when the market opened Tuesday, then recovered some value throughout the day, eventually closing down 2.3%.

During its annual shareholder meeting Wednesday, Target executives were asked why the company cut profit forecasts so quickly after its earnings announcement.

“While we’ve continued to see strong traffic and sales growth since we reported our first-quarter results we’ve watched as many competitors have reported elevated inventory levels,” said Michael Fiddelke, Target’s chief financial officer. “As such we announced yesterday that we are taking a number of actions to further right-size our inventory.”

Target shares rose slightly on Wednesday to close at $156.70.

Target’s announcement isn’t out of character for Mr. Cornell. The 63-year-old executive joined Target after leadership stints at PepsiCo Inc. and Sam’s Club. When Mr. Cornell took the helm at Target, the retailer had struggled with a long streak of weak sales, in part due to a data breach that eroded trust with some shoppers.

Mr. Cornell soon decided the company should exit all stores in Canada, scrapping an international expansion that had already cost it $4 billion. That strategy differed from some competitors such as Walmart and Costco Wholesale Corp., which had already opened stores in multiple countries outside the U.S. Target, Mr. Cornell said, would narrow its focus on the U.S., where it would concentrate on a handful of categories such as baby, fashion and e-commerce.

“This difficult decision in Canada allows us to focus all of our energy on strengthening and executing our plans in the U.S.,” Mr. Cornell said on a conference call at the time. Target’s shares closed 1.8% higher that day.

Sales improved in some quarters, though overall the chain still lagged behind some peers. Among the problems, Mr. Cornell determined: Prices were too high, and stores needed remodels.

So in February 2017, on the day Target announced weak holiday sales, Mr. Cornell outlined a comeback plan for the U.S. business at an analyst meeting in New York. Target, he said, would spend billions of dollars to refurbish stores, use stores as e-commerce hubs, introduce better store brands and cut prices.

Updated: 7-4-2022

Glut of Goods At Target, Walmart Is A Boon For Liquidators And Bargain Hunters

Donna Griffin said she is seeing a lot of furniture and mattresses as well as winter clothing at the Bargain Hunt store near her Cropwell, Ala., home.

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The 61-year-old retiree said she recently bought several women’s coats on clearance for $2.75 apiece, down from a regular price of $100. “The prices are even lower than usual because the items are out-of-season,” she said.

“There is more excess merchandise now than at any time in the past two decades.”  said CEO, Brady Churches,  Home Buys, a Columbus, Ohio, off-price retailer.

Off-price chains are awash in appliances, apparel and outdoor furniture that never made it to stores.

The excess inventory piling up at large retailers such as Target Corp. and Walmart Inc. is proving a boon for liquidators and other companies that help dispose of the oversupply.

Liquidity Services Inc., Xcess Limited, B-Stock LLC and other companies said they are seeing a glut of kitchen appliances, televisions, outdoor furniture and apparel that major chains are trying to clear out.

In many cases, the liquidators are picking up pallets at the ports or from a warehouse without the goods ever hitting store shelves and are selling the items to smaller retailers and individuals who resell them online.

“What’s unusual is the large retailers may not ever touch the products,” said JD Daunt, chief commercial officer of Liquidity Services, which operates online marketplaces. “They are asking us to get in front of this earlier than in the past. There is an unusual amount of excess inventory, and it’s affecting so many retailers at the same time.”

At the onset of the Covid-19 pandemic when many stores were temporarily closed, retailers canceled orders from overseas suppliers as shoppers huddled at home.

Then, as the economy started to open up, supply-chain bottlenecks due to factory backlogs and shipping and port delays left retailers with a dearth of goods to sell. To compensate, they ordered extra and placed those orders further in advance to ensure that products arrived on time.

“They wanted to make sure they’d have stuff to stock on the shelves,” said Marcus Shen, chief executive of B-Stock, a software company that helps retailers manage excess inventory by matching sellers with buyers. “In the time it took for that product to get here, demand shifted.”

Consumers curtailed purchases of the comfortable clothes and home items that they bought during the height of the pandemic and shifted more spending to dressier clothes as well as travel and entertainment.

At the same time, inflation is pushing up the costs of necessities such as food and gas, leaving less money for discretionary items.

The mismatch between supply and demand has left large chains such as Target, Walmart, Gap Inc. and Macy’s Inc. with excess goods they need to clear out.

Target warned in June that profits would be hurt as it cancels orders with vendors and offers discounts to get rid of excess merchandise.

Home Buys, a Columbus, Ohio, off-price retailer with eight stores, is selling name-brand washers and dryers at 40% off the regular price.

“Before Covid, we wouldn’t have had washers and dryers in our stores,” said Brady Churches, the chain’s chief executive. “The market for those items is normally tight, and there isn’t a lot of excess.”

Mr. Churches said there is more excess merchandise now than at any time in the past two decades. He has been scooping up lawn-and-garden furniture and apparel, particularly winter sweaters and other cold-weather gear that arrived too late for the selling season. “The secondary market is swimming in apparel,” he said.

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Norm Rankin, senior vice president of merchandising for Bargain Hunt, a closeout chain based in Nashville, Tenn., with 85 stores, said he has been negotiating with a large retailer trying to unload $30 million of Christmas goods, including artificial trees, decorations and home décor, that arrived after last year’s holiday season.

“The quality is very high, because many of the goods didn’t even make their way into retailers’ warehouses,” Mr. Rankin said.

Even though the secondary market is overloaded with excess outdoor furniture, Mr. Rankin said he isn’t buying more because the season to sell those items is almost over. “We don’t want to be overstocked ourselves,” he said.

Larger discount chains like TJX Cos.’ T.J. Maxx and Ross Stores Inc. also are benefiting from the oversupply. They often buy overruns directly from manufacturers, whereas the liquidators scoop up excess supply from the largest retailers and resell the goods to smaller chains, mom-and-pop shops, online-auction sites and individuals, who resell them at flea markets and websites such as Amazon.com Inc., eBay Inc. and Craigslist, industry executives said.

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Jason Carrick, the owner of Xcess Limited, said the summer is typically a slow time for liquidations, but not this year.

His company has been carting away 1,600 truckloads a month of excess merchandise from a large online retailer, including clothing, treadmills and videogame consoles. Xcess Limited recently took 150 truckloads of Easter and spring goods off the hands of another large chain.

 

 

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Ultimate Resource On China’s ‘Common Prosperity’ Drive How It Plans To Redistribute The Wealth

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Bitcoin Offers Little Refuge From Covid Market Rout

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Federal Reserve To Taper Money Printing That Fueled Bitcoin Rally

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NYC And Miami Mayors (Eric Adams And Francis Suarez) Duke It Out On Twitter Over Who Is The Bigger Crypto Advocate

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Netflix Defends Dave Chappelle While Seeing “Squid Game” Become It’s Biggest Hit Ever

Ultimate Resource On Various Countries Adopting Bitcoin

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Pandora Papers Exposed Offshore Havens And Hidden Riches Of World Leaders And Billionaires Exposed In Unprecedented Leak (#GotBitcoin)

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Ultimate Resource On Vaccine Boosters

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Ultimate Resource On Global Inflation And Rising Interest Rates (#GotBitcoin)

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Presearch Decentralized Crypto-Powered Search Engine

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A Paycheck In Crypto? There Might Be Some Headaches

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About 46 Million Americans Or 17% Now Own Bitcoin vs 50% Who Own Stocks

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Bitcoin’s Surge Lacks Extreme Leverage That Powered Past Rallies

JP Morgan Says, “Proof-Of-Stake Will Eat Proof-Of-Work For Breakfast — Here’s Why

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Prospering In The Pandemic, Some Feel Financial Guilt And Gratitude

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Bitcoin Fans Are Suddenly A Political Force

Walmart Seeks Crypto Product Lead To Drive Digital Currency Strategy

Music Distributor DistroKid Raises Money At $1.3 Billion Valuation

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Hacker Claims To Steal Data Of 100 Million T-Mobile Customers

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Vietnam Leads Crypto Adoption In Finder’s 27-Country Survey

Bitcoin’s Latest Surge Lacks Extreme Leverage That Powered Past Rallies

Creatine Supplementation And Brain Health

Nigerian State Says 337 Students Missing After Gunmen Attack

America’s 690 Mile-Long Yard Sale Entices A Nation of Deal Hunters

Russian Economy Grew (10.3% GDP) Fastest Since 2000 On Lockdown Rebound

US Troops Going Hungry (Food Insecurity) Is A National Disgrace

Overheated, Unprepared And Under-protected: Climate Change Is Killing People, Pets And Crops

Accenture Confirms Hack After LockBit Ransomware Data Leak Threats

Climate Change Prompts These Six Pests To Come And Eat Your Crops

Leaked EU Plan To Green Its Timber Industry Sparks Firestorm

Students Take To The Streets For Day Of Action On Climate Change

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Bitcoin Community Leaders Join Longevity Movement

Some Climate Change Effects May Be Irreversible, U.N. Panel Says

Israel’s Mossad Intelligence Agency Is Seeking To Hire A Crypto Expert

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Bitcoin Doesn’t Need Presidents, But Presidents Need Bitcoin

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Marketers Plan Giveaways For Covid-19 Vaccine Recipients

Haiti’s President Moise Assassinated In Night Attack On His Home

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A Harvard Deal Tries To Break The Charmed Circle Of White Wealth

China Three-Child Policy Aims To Rejuvenate Aging Population

California Wants Its Salton Sea Located In The Imperial Valley To Be ‘Lithium Valley’

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Chicago World’s Fair Of Money To Unveil A Private Coin Collection Worth Millions of Dollars

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Ultimate Resource On Hydrogen And Green Hydrogen As Alternative Energy

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‘Buy Now, Pay Later’ Installment Plans Are Having A Moment AgainUS Crypto Traders Evade Offshore Exchange Bans

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Jack Dorsey Advocates Ending Police Brutality In Nigeria Through Bitcoin

Psychedelics Replace Pot As The New Favorite Edgy Investment

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US City To Pay Reparations To African-American Community With Tax On Marijuana Sales

Slaveowners Got Reparations For Financial Loss After Emancipation. Enslaved African-Americans Got Nothing

Crypto-Friendly Investment Search Engine Vincent Raises $6M

Trading Firm Of Richest Crypto Billionaire Reveals Buying ‘A Lot More’ Bitcoin Below $30K

Bitcoin Security Still A Concern For Some Institutional Investors

Weaponizing Blockchain — Vast Potential, But Projects Are Kept Secret

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Tennessee City Wants To Accept Property Tax Payments In Bitcoin

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Eco Wave Power Global (“EWPG”) Is A Leading Onshore Wave Energy Technology Company

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Green Finance Isn’t Going Where It’s Needed

Shedding Some Light On The Murky World Of ESG Metrics

SEC Targets Greenwashers To Bring Law And Order To ESG

Spike Lee’s TV Ad For Crypto Touts It As New Money For A Diverse World

Bitcoin Network Node Count Sets New All-Time High

Tesla Needs The Bitcoin Lightning Network For Its Autonomous ‘Robotaxi’ Fleet

How To Buy Bitcoin: A Guide To Investing In The Cryptocurrency

How Crypto is Primed To Transform Movie Financing

Paraguayan Lawmakers To Present Bitcoin Bill On July 14

Bitcoin’s Biggest Hack In History: 184.4 Billion Bitcoin From Thin Air

Paul Sztorc On Measuring Decentralization Of Nodes And Blind Merge Mining

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EA, Other Videogame Companies Target Mobile Gaming As Pandemic Wanes

Strike To Offer ‘No Fee’ Bitcoin Trading, Taking Aim At Coinbase And Square

Coinbase Reveals Plans For Crypto App Store Amid Global Refocus

Mexico May Not Be Following El Salvador’s Example On Bitcoin… Yet

What The Crypto Crowd Doesn’t Understand About Economics

My Local Crypto Space Just Got Raided By The Feds. You Know The Feds Scared Of Crypto

My Local Crypto Space Just Got Raided By The Feds. You Know The Feds Scared Of Crypto

Bitcoin Slumps Toward Another ‘Crypto Winter’

NYC’s Mayoral Frontrunner Pledges To Turn City Into Bitcoin Hub

Lyn Alden On Bitcoin, Inflation And The Potential Coming Energy Shock

$71B In Crypto Has Reportedly Passed Through ‘Blockchain Island’ Malta Since 2017

Startups Race Microsoft To Find Better Ways To Cool Data Centers

Why PCs Are Turning Into Giant Phones

Panama To Present Crypto-Related Bill In July

Hawaii Had Largest Increase In Demand For Crypto Out Of US States This Year

What To Expect From Bitcoin As A Legal Tender

Petition: Satoshi Nakamoto Should Receive The Nobel Peace Prize

Can Bitcoin Turbo-Charge The Asset Management Industry?

Bitcoin Interest Drops In China Amid Crackdown On Social Media And Miners

Multi-trillion Asset Manager State Street Launches Digital Currency Division

Wall Street’s Crypto Embrace Shows In Crowd At Miami Conference

MIT Bitcoin Experiment Nets 13,000% Windfall For Students Who Held On

Petition: Let’s Make Bitcoin Legal Tender For United States of America

El Salvador Plans Bill To Adopt Bitcoin As Legal Tender

What Is Dollar Cost Averaging Bitcoin?

Paxful Launches Tool Allowing Businesses To Receive Payment In Bitcoin

CEOs Of Top Russian Banks Sberbank And VTB Blast Bitcoin

President of El Salvador Says He’s Submitting Bill To Make Bitcoin Legal Tender

Bitcoin Falls As Weibo Appears To Suspend Some Crypto Accounts

Israel-Gaza Conflict Spurs Bitcoin Donations To Hamas

Bitcoin Bond Launch Brings Digital Currency Step Closer To ‘World Of High Finance’

Worst Month For BTC Price In 10 Years: 5 Things To Watch In Bitcoin

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Bitcoin Card Game Bitopoly Launches

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Ultimate Resource On The Bitcoin Mining Council

Libertarian Activists Launch Bitcoin Embassy In New Hampshire

Why The Bitcoin Crash Was A Big Win For Cryptocurrencies

Treasury Calls For Crypto Transfers Over $10,000 To Be Reported To IRS

Crypto Traders Can Automate Legal Requests With New DoNotPay Services

Bitcoin Marches Away From Crypto Pack In Show of Resiliency

NBA Top Shot Lawsuit Says Dapper’s NFTs Need SEC Clampdown

Maximalists At The Movies: Bitcoiners Crowdfunding Anti-FUD Documentary Film

Caitlin Long Reveals The ‘Real Reason’ People Are Selling Crypto

Microsoft Quietly Closing Down Azure Blockchain In September

How Much Energy Does Bitcoin Actually Consume?

Bitcoin Should Be Priced In Sats And How Do We Deliver This Message

Bitcoin Loses 6% In An Hour After Tesla Drops Payments Over Carbon Concerns

Crypto Twitter Decodes Why Zuck Really Named His Goats ‘Max’ And ‘Bitcoin’

Bitcoin Pullback Risk Rises As Whales Resume Selling

Thiel-Backed Block.one Injects Billions In Crypto Exchange

Sequoia, Tiger Global Boost Crypto Bet With Start-up Lender Babel

Here’s How To Tell The Difference Between Bitcoin And Ethereum

In Crypto, Sometimes The Best Thing You Can Do Is Nothing

Crypto Community Remembers Hal Finney’s Contributions To Blockchain On His 65Th Birthday

DJ Khaled ft. Nas, JAY-Z & James Fauntleroy And Harmonies Rap Bitcoin Wealth

The Two Big Themes In The Crypto Market Right Now

Crypto Could Still Be In Its Infancy, Says T. Rowe Price’s CEO

Governing Body Of Louisiana Gives Bitcoin Its Nod Of Approval

Sports Athletes Getting Rich From Bitcoin

Behind Bitcoin’s Recent Slide: Imploding Bets And Forced Liquidations

Bad Omen? US Dollar And Bitcoin Are Both Slumping In A Rare Trend

Wall Street Starts To See Weakness Emerge In Bitcoin Charts

Crypto For The Long Term: What’s The Outlook?

Mix of Old, Wrong And Dubious ‘News/FUD’ Scares Rookie Investors, Fuels Crypto Selloff

Wall Street Pays Attention As Bitcoin Market Cap Nears The Valuation Of Google

Bitcoin Price Drops To $52K, Liquidating Almost $10B In Over-Leveraged Longs

Bitcoin Funding Rates Crash To Lowest Levels In 7 Months, Peak Fear?

Investors’ On-Chain Activity Hints At Bitcoin Price Cycle Top Above $166,000

This Vegan Billionaire Disrupted The Crypto Markets. Now He Wants To Tokenize Stocks

Texas Crypto Law Proposal Has One Major Flaw In Regards To Bitcoin Loans/Liens Says Caitlin Long, CEO

Black Americans Are Embracing Bitcoin To Make Up For Stolen Time

Rap Icon Nas Could Net $100M When Coinbase Lists on Nasdaq

The First Truly Native Cross-Chain DEX Is About To Go Live

Reminiscing On Past ‘Bitcoin Faucet’ Website That Gave Away 19,700 BTC For Free

Bitcoin Nears Record Before Largest U.S. Crypto Exchange Coinbase Nears $100 Billion Valuation Listing

3X As Many Crypto Figures Make It Onto Forbes 2021 Billionaires List As Last Year

Bubble Or A Drop In The Ocean? Putting Bitcoin’s $1 Trillion Milestone Into Perspective

Pension Funds And Insurance Firms Alive To Bitcoin Investment Proposal

Here’s Why April May Be The Best Month Yet For Bitcoin Price

Blockchain-Based Renewable Energy Marketplaces Gain Traction In 2021

Crypto Firms Got More Funding Last Quarter Than In All of 2020

Government-Backed Bitcoin Hash Wars Will Be The New Space Race

Lars Wood On Enhanced SAT Solvers Based Hashing Method For Bitcoin Mining

Morgan Stanley Adds Bitcoin Exposure To 12 Investment Funds

One BTC Will Be Worth A Lambo By 2022, And A Bugatti By 2023: Kraken CEO

Rocketing Bitcoin Price Provides Refuge For The Brave

Bitcoin Is 3rd Largest World Currency

Does BlockFi’s Risk Justify The Reward?

Crypto Media Runs With The Bulls As New Entrants Compete Against Established Brands

Bitcoin’s Never-Ending Bubble And Other Mysteries

The Last Dip Is The Deepest As Wife Leaves Husband For Buying More Bitcoin

Blockchain.com Raises $300 Million As Investors Find Other Ways Into Bitcoin

Crypto Kids Camp

What Is BitClout? The Social Media Experiment Sparking Controversy On Twitter

Bitcoin Searches In Turkey Spike 566% After Turkish Lira Drops 14%

Crypto Is Banned In Morocco, But Bitcoin Purchases Are Soaring

Bitcoin Can Be Sent With A Tweet As Bottlepay Twitter App Goes Live

Rise of Crypto Market’s Quiet Giants Has Big Market Implications

Canadian Property Firm Buys Bitcoin In Hopes Of Eventually Scrapping Condo Fees

Bitcoin Price Gets Fed Boost But Bond Yields Could Play Spoilsport: Analysts

Bank of America Claims It Costs Just $93 Million To Move Bitcoin’s Price By 1%

Would A US Wealth Tax Push Millionaires To Bitcoin Adoption?

NYDIG Head Says Major Firms Will Announce Bitcoin ‘Milestones’ Next Week

Signal Encrypted Messenger Now Accepts Donations In Bitcoin

Bitcoin Is Now Worth More Than Visa And Mastercard Combined

Retail Bitcoin Customers Rival Wall Street Buyers As Mania Builds

Crypto’s Rising. So Are The Stakes For Governments Everywhere

Bitcoin Falls After Weekend Rally Pushes Token To Fresh Record

Oakland A’s Major League Baseball Team Now Accepts Bitcoin For Suites

Students In Georgia Set To Be Taught About Crypto At High School

What You Need To Know About Bitcoin Now

Bitcoin Winning Streak Now At 7 Days As Fresh Stimulus Keeps Inflation Bet Alive

Bitcoin Intraday Trading Pattern Emerges As Institutions Pile In

If 60/40 Recipe Sours, Maybe Stir In Some Bitcoin

Explaining Bitcoin’s Speculative Attack On The Dollar

VIX-Like Gauge For Bitcoin Sees Its First-Ever Options Trade

A Utopian Vision Gets A Blockchain Twist In Nevada

Crypto Influencers Scramble To Recover Twitter Accounts After Suspensions

Bitcoin Breaks Through $57,000 As Risk Appetite Revives

Analyzing Bitcoin’s Network Effect

US Government To Sell 0.7501 Bitcoin Worth $38,000 At Current Prices

Pro Traders Avoid Bitcoin Longs While Cautiously Watching DXY Strengthen

Bitcoin Hits Highest Level In Two Weeks As Big-Money Bets Flow

OG Status In Crypto Is A Liability

Bridging The Bitcoin Gender Gap: Crypto Lets Everyone Access Wealth

HODLing Early Leads To Relationship Troubles? Redditors Share Their Stories

Want To Be Rich? Bitcoin’s Limited Supply Cap Means You Only Need 0.01 BTC

You Can Earn 6%, 8%, Even 12% On A Bitcoin ‘Savings Account’—Yeah, Right

Egyptians Are Buying Bitcoin Despite Prohibitive New Banking Laws

Is March Historically A Bad Month For Bitcoin?

Suze Orman: ‘I love Bitcoin’

Bitcoin Falls 4% As Fed’s Powell Sees ‘Concern’ Over Rising Bond Yields

US Retailers See Millions In Lost Sales Due To Port Congestion, Shortage Of Containers

Pandemic-Relief Aid Boosts Household Income Which Causes Artificial Economic Stimulus

YouTube Suspends CoinDesk’s Channel Over Unspecified Violations

It’s Gates Versus Musk As World’s Richest Spar Over Bitcoin

Charlie Munger Is Sure Bitcoin Will Fail To Become A Global Medium Of Exchange

Bitcoin Is Minting Thousands Of Crypto ‘Diamond Hands’ Millionaires Complete W/Laser Eyes

Federal Reserve’s Wire & ACH Systems Go Down, Visa & Mastercard Raise Fees, Meanwhile, Bitcoin Works Just Fine

Dubai’s IBC Group Pledges 100,000 Bitcoin ($4.8 Billion) 20% Of All Bitcoin, Largest So Far

Bitcoin’s Value Is All In The Eye Of The ‘Bithodler’

Bitcoin Is Hitting Record Highs. Why It’s Not Too Late To Dig For Digital Gold

$56.3K Bitcoin Price And $1Trillion Market Cap Signal BTC Is Here To Stay

Christie’s Auction House Will Now Accept Cryptocurrency

Why A Chinese New Year Bitcoin Sell-Off Did Not Happen This Year

The US Federal Reserve Will Adopt Bitcoin As A Reserve Asset

Motley Fool Adding $5M In Bitcoin To Its ‘10X Portfolio’ — Has A $500K Price Target

German Cannabis Company Hedges With Bitcoin In Case Euro Crashes

Bitcoin: What To Know Before Investing

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Bitcoin’s Volatility Should Burn Investors. It Hasn’t

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The Ultimate Resource On “PriFi” Or Private Finance

Deutsche Bank To Offer Bitcoin Custody Services

BeanCoin Currency Casts Lifeline To Closed New Orleans Bars

Bitcoin Could Enter ‘Supercycle’ As Fed Balance Sheet Hits New Record High

Crypto Mogul Bets On ‘Meme Investing’ With Millions In GameStop

Iran’s Central Banks Acquires Bitcoin Even Though Lagarde Says Central Banks Will Not Hold Bitcoin

Bitcoin To Come To America’s Oldest Bank, BNY Mellon

Tesla’s Bitcoin-Equals-Cash View Isn’t Shared By All Crypto Owners

How A Lawsuit Against The IRS Is Trying To Expand Privacy For Crypto Users

Apple Should Launch Own Crypto Exchange, RBC Analyst Says

Bitcoin Hits $43K All-Time High As Tesla Invests $1.5 Billion In BTC

Bitcoin Bounces Off Top of Recent Price Range

Top Fiat Currencies By Market Capitalization VS Bitcoin

Bitcoin Eyes $50K Less Than A Month After BTC Price Broke Its 2017 All-Time High

Investors Piling Into Overvalued Crypto Funds Risk A Painful Exit

Parents Should Be Aware Of Their Children’s Crypto Tax Liabilities

Miami Mayor Says City Employees Should Be Able To Take Their Salaries In Bitcoin

Bitcoiners Get Last Laugh As IBM’s “Blockchain Not Bitcoin” Effort Goes Belly-up

Bitcoin Accounts Offer 3-12% Rates In A Low-Interest World

Analyst Says Bitcoin Price Sell-Off May Occur As Chinese New Year Approaches

Why The Crypto World Needs To Build An Amazon Of Its Own

Tor Project’s Crypto Donations Increased 23% In 2020

Social Trading Platform eToro Ended 2020 With $600M In Revenue

Bitcoin Billionaire Set To Run For California Governor

GameStop Investing Craze ‘Proof of Concept’ For Bitcoin Success

Bitcoin Entrepreneurs Install Mining Rigs In Cars. Will Trucks And Tractor Trailers Be Next?

Harvard, Yale, Brown Endowments Have Been Buying Bitcoin For At Least A Year

Bitcoin Return To $40,000 In Doubt As Flows To Key Fund Slow

Ultimate Resource For Leading Non-Profits Focused On Policy Issues Facing Cryptocurrencies

Regulate Cryptocurrencies? Not Yet

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Bitcoin Core Lead Maintainer Steps Back, Encourages Decentralization

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To Understand Bitcoin, Just Think of It As A Faith-Based Asset

Cryptos Won’t Work As Actual Currencies, UBS Economist Says

Older Investors Are Getting Into Crypto, New Survey Finds

Access Denied: Banks Seem Prone To Cryptophobia Despite Growing Adoption

Pro Traders Buy The Dip As Bulls Address A Trifecta Of FUD News Announcements

Andreas Antonopoulos And Others Debunk Bitcoin Double-Spend FUD

New Bitcoin Investors Explain Why They’re Buying At Record Prices

When Crypto And Traditional Investors Forget Fundamentals, The Market Is Broken

First Hyperledger-based Cryptocurrency Explodes 486% Overnight On Bittrex BTC Listing

Bitcoin Steady As Analysts Say Getting Back To $40,000 Is Key

Coinbase, MEVP Invest In Crypto-Asset Startup Rain

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Secure Bitcoin Self-Custody: Balancing Safety And Ease Of Use

Voyager Crypto App Review

UBS (A Totally Corrupt And Criminal Bank) Warns Clients Crypto Prices Can Actually Go To Zero

Bitcoin Swings Undermine CFO Case For Converting Cash To Crypto

CoinLab Cuts Deal With Mt. Gox Trustee Over Bitcoin Claims

Bitcoin Slides Under $35K Despite Biden Unveiling $1.9 Trillion Stimulus

Bitcoin Refuses To ‘Die’ As BTC Price Hits $40K Just Three Days After Crash

Ex-Ripple CTO Can’t Remember Password To Access $240M In Bitcoin

Financial Advisers Are Betting On Bitcoin As A Hedge

ECB President Christine Lagarde (French Convict) Says, Bitcoin Enables “Funny Business.”

German Police Shut Down Darknet Marketplace That Traded Bitcoin

Bitcoin Miner That’s Risen 1,400% Says More Regulation Is Needed

Bitcoin Rebounds While Leaving Everyone In Dark On True Worth

UK Treasury Calls For Feedback On Approach To Cryptocurrency And Stablecoin Regulation

What Crypto Users Need Know About Changes At The SEC

Where Does This 28% Bitcoin Price Drop Rank In History? Not Even In The Top 5

Seven Times That US Regulators Stepped Into Crypto In 2020

Retail Has Arrived As Paypal Clears $242M In Crypto Sales Nearly Double The Previous Record

Bitcoin’s Slide Dents Price Momentum That Dwarfed Everything

Does Bitcoin Boom Mean ‘Better Gold’ Or Bigger Bubble?

Bitcoin Whales Are Profiting As ‘Weak Hands’ Sell BTC After Price Correction

Crypto User Recovers Long-Lost Private Keys To Access $4M In Bitcoin

The Case For And Against Investing In Bitcoin

Bitcoin’s Wild Weekends Turn Efficient Market Theory Inside Out

Mega-Bullish News For Bitcoin As Elon Musk Says, “Pay Me In Bitcoin” And Biden Says, “Ignore Budget Deficits”!

Bitcoin Price Briefly Surpasses Market Cap Of Tencent

Broker Touts Exotic Bitcoin Bet To Squeeze Income From Crypto

Broker Touts Exotic Bitcoin Bet To Squeeze Income From Crypto

Tesla’s Crypto-Friendly CEO Is Now The Richest Man In The World

Crypto Market Cap Breaks $1 Trillion Following Jaw-Dropping Rally

Gamblers Could Use Bitcoin At Slot Machines With New Patent

Crypto Users Donate $400K To Julian Assange Defense As Mexico Proposes Asylum

Grayscale Ethereum Trust Fell 22% Despite Rally In Holdings

Bitcoin’s Bulls Should Fear Its Other Scarcity Problem

Ether Follows Bitcoin To Record High Amid Dizzying Crypto Rally

Retail Investors Are Largely Uninvolved As Bitcoin Price Chases $40K

Bitcoin Breaches $34,000 As Rally Extends Into New Year

Social Media Interest In Bitcoin Hits All-Time High

Bitcoin Price Quickly Climbs To $31K, Liquidating $100M Of Shorts

How Massive Bitcoin Buyer Activity On Coinbase Propelled BTC Price Past $32K

FinCEN Wants US Citizens To Disclose Offshore Crypto Holdings of $10K+

Governments Will Start To Hodl Bitcoin In 2021

Crypto-Linked Stocks Extend Rally That Produced 400% Gains

‘Bitcoin Liquidity Crisis’ — BTC Is Becoming Harder To Buy On Exchanges, Data Shows

Bitcoin Looks To Gain Traction In Payments

BTC Market Cap Now Over Half A Trillion Dollars. Major Weekly Candle Closed!!

Elon Musk And Satoshi Nakamoto Making Millionaires At Record Pace

Binance Enables SegWit Support For Bitcoin Deposits As Adoption Grows

Santoshi Nakamoto Delivers $24.5K Christmas Gift With Another New All-Time High

Bitcoin’s Rally Has Already Outlasted 2017’s Epic Run

Gifting Crypto To Loved Ones This Holiday? Educate Them First

Scaramucci’s SkyBridge Files With SEC To Launch Bitcoin Fund

Samsung Integrates Bitcoin Wallets And Exchange Into Galaxy Phones

HTC Smartphone Will Run A Full Bitcoin Node (#GotBitcoin?)

HTC’s New 5G Router Can Host A Full Bitcoin Node

Bitcoin Miners Are Heating Homes Free of Charge

Bitcoin Miners Will Someday Be Incorporated Into Household Appliances

Musk Inquires About Moving ‘Large Transactions’ To Bitcoin

How To Invest In Bitcoin: It Can Be Easy, But Watch Out For Fees

Megan Thee Stallion Gives Away $1 Million In Bitcoin

CoinFLEX Sets Up Short-Term Lending Facility For Crypto Traders

Wall Street Quants Pounce On Crytpo Industry And Some Are Not Sure What To Make Of It

Bitcoin Shortage As Wall Street FOMO Turns BTC Whales Into ‘Plankton’

Bitcoin Tops $22,000 And Strategists Say Rally Has Further To Go

Why Bitcoin Is Overpriced by More Than 50%

Kraken Exchange Will Integrate Bitcoin’s Lightning Network In 2021

New To Bitcoin? Stay Safe And Avoid These Common Scams

Andreas M. Antonopoulos And Simon Dixon Say Don’t Buy Bitcoin!

Famous Former Bitcoin Critics Who Conceded In 2020

Jim Cramer Bought Bitcoin While ‘Off Nicely From The Top’ In $17,000S

The Wealthy Are Jumping Into Bitcoin As Stigma Around Crypto Fades

WordPress Adds Official Ethereum Ad Plugin

France Moves To Ban Anonymous Crypto Accounts To Prevent Money Laundering

10 Predictions For 2021: China, Bitcoin, Taxes, Stablecoins And More

Movie Based On Darknet Market Silk Road Premiering In February

Crypto Funds Have Seen Record Investment Inflow In Recent Weeks

US Gov Is Bitcoin’s Last Remaining Adversary, Says Messari Founder

$1,200 US Stimulus Check Is Now Worth Almost $4,000 If Invested In Bitcoin

German Bank Launches Crypto Fund Covering Portfolio Of Digital Assets

World Governments Agree On Importance Of Crypto Regulation At G-7 Meeting

Why Some Investors Get Bitcoin So Wrong, And What That Says About Its Strengths

It’s Not About Data Ownership, It’s About Data Control, EFF Director Says

‘It Will Send BTC’ — On-Chain Analyst Says Bitcoin Hodlers Are Only Getting Stronger

Bitcoin Arrives On Wall Street: S&P Dow Jones Launching Crypto Indexes In 2021

Audio Streaming Giant Spotify Is Looking Into Crypto Payments

BlackRock (Assets Under Management $7.4 Trillion) CEO: Bitcoin Has Caught Our Attention

Bitcoin Moves $500K Around The Globe Every Second, Says Samson Mow

Pomp Talks Shark Tank’s Kevin O’leary Into Buying ‘A Little More’ Bitcoin

Bitcoin Is The Tulipmania That Refuses To Die

Ultimate Resource On Ethereum 2.0

Biden Should Integrate Bitcoin Into Us Financial System, Says Niall Ferguson

Bitcoin Is Winning The Monetary Revolution

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Bitcoin Price Sets New Record High Above $19,783

You Call That A Record? Bitcoin’s November Gains Are 3x Stock Market’s

Bitcoin Fights Back With Power, Speed and Millions of Users

Guggenheim Fund ($295 Billion Assets Under Management) Reserves Right To Put Up To 10% In Bitcoin Trust!

Exchanges Outdo Auctions For Governments Cashing In Criminal Crypto, Says Exec

Coinbase CEO: Trump Administration May ‘Rush Out’ Burdensome Crypto Wallet Rules

Bitcoin Plunges Along With Other Coins Providing For A Major Black Friday Sale Opportunity

The Most Bullish Bitcoin Arguments For Your Thanksgiving Table

‘Bitcoin Tuesday’ To Become One Of The Largest-Ever Crypto Donation Events

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Bitcoin Trades Again Near Record, Driven By New Group Of Buyers

Friendliest Of Them All? These Could Be The Best Countries For Crypto

Bitcoin Price Doubles Since The Halving, With Just 3.4M Bitcoin Left For Buyers

First Company-Sponsored Bitcoin Retirement Plans Launched In US

Poker Players Are Enhancing Winnings By Cashing Out In Bitcoin

Crypto-Friendly Brooks Gets Nod To Serve 5-Year Term Leading Bank Regulator

The Bitcoin Comeback: Is Crypto Finally Going Mainstream?

The Dark Future Where Payments Are Politicized And Bitcoin Wins

Mexico’s 3rd Richest Man Reveals BTC Holdings As Bitcoin Breaches $18,000

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Bitcoin’s Gunning For A Record And No One’s Talking About It

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US Company Now Lets Travelers Pay For Passports With Bitcoin

Billionaire Hedge Fund Investor Stanley Druckenmiller Says He Owns Bitcoin In CNBC Interview

China’s UnionPay And Korea’s Danal To Launch Crypto-Supporting Digital Card #GotBitcoin

Bitcoin Is Back Trading Near Three-Year Highs

Bitcoin Transaction Fees Rise To 28-Month High As Hashrate Drops Amid Price Rally

Market Is Proving Bitcoin Is ‘Ultimate Safe Haven’ — Anthony Pompliano

3 Reasons Why Bitcoin Price Suddenly Dropping Below $13,000 Isn’t Bearish

Bitcoin Resurgence Leaves Institutional Acceptance Unanswered

Bitcoin’s Rivalry With Gold Plus Millennial Interest Gives It ‘Considerable’ Upside Potential: JPMorgan

WordPress Content Can Now Be Timestamped On Ethereum

PayPal To Offer Crypto Payments Starting In 2021 (A-Z) (#GotBitcoin?)

As Bitcoin Approaches $13,000 It Breaks Correlation With Equities

Crypto M&A Surges Past 2019 Total As Rest of World Eclipses U.S. (#GotBitcoin?)

How HBCUs Are Prepping Black Students For Blockchain Careers

Why Every US Congressman Just Got Sent Some ‘American’ Bitcoin

CME Sounding Out Crypto Traders To Gauge Market Demand For Ether Futures, Options

Caitlin Long On Bitcoin, Blockchain And Rehypothecation (#GotBitcoin?)

Bitcoin Drops To $10,446.83 As CFTC Charges BitMex With Illegally Operating Derivatives Exchange

BitcoinACKs Lets You Track Bitcoin Development And Pay Coders For Their Work

One Of Hal Finney’s Lost Contributions To Bitcoin Core To Be ‘Resurrected’ (#GotBitcoin?)

Cross-chain Money Markets, Latest Attempt To Bring Liquidity To DeFi

Memes Mean Mad Money. Those Silly Defi Memes, They’re Really Important (#GotBitcoin?)

Bennie Overton’s Story About Our Corrupt U.S. Judicial, Global Financial Monetary System And Bitcoin

Stop Fucking Around With Public Token Airdrops In The United States (#GotBitcoin?)

Mad Money’s Jim Cramer Will Invest 1% Of Net Worth In Bitcoin Says, “Gold Is Dangerous”

State-by-state Licensing For Crypto And Payments Firms In The Us Just Got Much Easier (#GotBitcoin?)

Bitcoin (BTC) Ranks As World 6Th Largest Currency

Pomp Claims He Convinced Jim Cramer To Buy Bitcoin

Traditional Investors View Bitcoin As If It Were A Technology Stock

Mastercard Releases Platform Enabling Central Banks To Test Digital Currencies (#GotBitcoin?)

Being Black On Wall Street. Top Black Executives Speak Out About Racism (#GotBitcoin?)

Tesla And Bitcoin Are The Most Popular Assets On TradingView (#GotBitcoin?)

From COVID Generation To Crypto Generation (#GotBitcoin?)

Right-Winger Tucker Carlson Causes Grayscale Investments To Pull Bitcoin Ads

Bitcoin Has Lost Its Way: Here’s How To Return To Crypto’s Subversive Roots

Cross Chain Is Here: NEO, ONT, Cosmos And NEAR Launch Interoperability Protocols (#GotBitcoin?)

Crypto Trading Products Enter The Mainstream With A Number Of Inherent Advantages (#GotBitcoin?)

Crypto Goes Mainstream With TV, Newspaper Ads (#GotBitcoin?)

A Guarded Generation: How Millennials View Money And Investing (#GotBitcoin?)

Blockchain-Backed Social Media Brings More Choice For Users

California Moves Forward With Digital Asset Bill (#GotBitcoin?)

Walmart Adds Crypto Cashback Through Shopping Loyalty Platform StormX (#GotBitcoin?)

Congressman Tom Emmer To Lead First-Ever Crypto Town Hall (#GotBitcoin?)

Why It’s Time To Pay Attention To Mexico’s Booming Crypto Market (#GotBitcoin?)

The Assets That Matter Most In Crypto (#GotBitcoin?)

Ultimate Resource On Non-Fungible Tokens

Bitcoin Community Highlights Double-Standard Applied Deutsche Bank Epstein Scandal

Blockchain Makes Strides In Diversity. However, Traditional Tech Industry Not-S0-Much (#GotBitcoin?)

An Israeli Blockchain Startup Claims It’s Invented An ‘Undo’ Button For BTC Transactions

After Years of Resistance, BitPay Adopts SegWit For Cheaper Bitcoin Transactions

US Appeals Court Allows Warrantless Search of Blockchain, Exchange Data

Central Bank Rate Cuts Mean ‘World Has Gone Zimbabwe’

This Researcher Says Bitcoin’s Elliptic Curve Could Have A Secret Backdoor

China Discovers 4% Of Its Reserves Or 83 Tons Of It’s Gold Bars Are Fake (#GotBitcoin?)

Former Legg Mason Star Bill Miller And Bloomberg Are Optimistic About Bitcoin’s Future

Yield Chasers Are Yield Farming In Crypto-Currencies (#GotBitcoin?)

Australia Post Office Now Lets Customers Buy Bitcoin At Over 3,500 Outlets

Anomaly On Bitcoin Sidechain Results In Brief Security Lapse

SEC And DOJ Charges Lobbying Kingpin Jack Abramoff And Associate For Money Laundering

Veteran Commodities Trader Chris Hehmeyer Goes All In On Crypto (#GotBitcoin?)

Activists Document Police Misconduct Using Decentralized Protocol (#GotBitcoin?)

Supposedly, PayPal, Venmo To Roll Out Crypto Buying And Selling (#GotBitcoin?)

Industry Leaders Launch PayID, The Universal ID For Payments (#GotBitcoin?)

Crypto Quant Fund Debuts With $23M In Assets, $2.3B In Trades (#GotBitcoin?)

The Queens Politician Who Wants To Give New Yorkers Their Own Crypto

Why Does The SEC Want To Run Bitcoin And Ethereum Nodes?

Trump Orders Treasury Secretary Steve Mnuchin To Destroy Bitcoin Just Like They Destroyed The Traditional Economy

US Drug Agency Failed To Properly Supervise Agent Who Stole $700,000 In Bitcoin In 2015

Layer 2 Will Make Bitcoin As Easy To Use As The Dollar, Says Kraken CEO

Bootstrapping Mobile Mesh Networks With Bitcoin Lightning

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BitPay’s Prepaid Mastercard Launches In US to Make Crypto Accessible (#GotBitcoin?)

Germany’s Deutsche Borse Exchange To List New Bitcoin Exchange-Traded Product

‘Bitcoin Billionaires’ Movie To Tell Winklevoss Bros’ Crypto Story

US Pentagon Created A War Game To Fight The Establishment With BTC (#GotBitcoin?)

JPMorgan Provides Banking Services To Crypto Exchanges Coinbase And Gemini (#GotBitcoin?)

Bitcoin Advocates Cry Foul As US Fed Buying ETFs For The First Time

Final Block Mined Before Halving Contained Reminder of BTC’s Origins (#GotBitcoin?)

Meet Brian Klein, Crypto’s Own ‘High-Stakes’ Trial Attorney (#GotBitcoin?)

3 Reasons For The Bitcoin Price ‘Halving Dump’ From $10K To $8.1K

Bitcoin Outlives And Outlasts Naysayers And First Website That Declared It Dead Back In 2010

Hedge Fund Pioneer Turns Bullish On Bitcoin Amid ‘Unprecedented’ Monetary Inflation

Antonopoulos: Chainalysis Is Helping World’s Worst Dictators & Regimes (#GotBitcoin?)

Survey Shows Many BTC Holders Use Hardware Wallet, Have Backup Keys (#GotBitcoin?)

Iran Ditches The Rial Amid Hyperinflation As Localbitcoins Seem To Trade Near $35K

Buffett ‘Killed His Reputation’ by Being Stupid About BTC, Says Max Keiser (#GotBitcoin?)

Meltem Demirors: “Bitcoin Is Not A F*Cking Systemic Hedge If You Hold Your Bitcoin At A Financial Institution”

Blockfolio Quietly Patches Years-Old Security Hole That Exposed Source Code (#GotBitcoin?)

Bitcoin Won As Store of Value In Coronavirus Crisis — Hedge Fund CEO

Decentralized VPN Gaining Steam At 100,000 Users Worldwide (#GotBitcoin?)

Crypto Exchange Offers Credit Lines so Institutions Can Trade Now, Pay Later (#GotBitcoin?)

Zoom Develops A Cryptocurrency Paywall To Reward Creators Video Conferencing Sessions (#GotBitcoin?)

Bitcoin Startup Purse.io And Major Bitcoin Cash Partner To Shut Down After 6-Year Run

Open Interest In CME Bitcoin Futures Rises 70% As Institutions Return To Market

Square’s Users Can Route Stimulus Payments To BTC-Friendly Cash App

$1.1 Billion BTC Transaction For Only $0.68 Demonstrates Bitcoin’s Advantage Over Banks

Bitcoin Could Become Like ‘Prison Cigarettes’ Amid Deepening Financial Crisis

Bitcoin Holds Value As US Debt Reaches An Unfathomable $24 Trillion

How To Get Money (Crypto-currency) To People In An Emergency, Fast

US Intelligence To Study What Would Happen If U.S. Dollar Lost Its Status As World’s Reserve Currency (#GotBitcoin?)

Bitcoin Miner Manufacturers Mark Down Prices Ahead of Halving

Privacy-Oriented Browsers Gain Traction (#GotBitcoin?)

‘Breakthrough’ As Lightning Uses Web’s Forgotten Payment Code (#GotBitcoin?)

Bitcoin Starts Quarter With Price Down Just 10% YTD vs U.S. Stock’s Worst Quarter Since 2008

Bitcoin Enthusiasts, Liberal Lawmakers Cheer A Fed-Backed Digital Dollar

Crypto-Friendly Bank Revolut Launches In The US (#GotBitcoin?)

The CFTC Just Defined What ‘Actual Delivery’ of Crypto Should Look Like (#GotBitcoin?)

Crypto CEO Compares US Dollar To Onecoin Scam As Fed Keeps Printing (#GotBitcoin?)

Stuck In Quarantine? Become A Blockchain Expert With These Online Courses (#GotBitcoin?)

Bitcoin, Not Governments Will Save the World After Crisis, Tim Draper Says

Crypto Analyst Accused of Photoshopping Trade Screenshots (#GotBitcoin?)

QE4 Begins: Fed Cuts Rates, Buys $700B In Bonds; Bitcoin Rallies 7.7%

Mike Novogratz And Andreas Antonopoulos On The Bitcoin Crash

Amid Market Downturn, Number of People Owning 1 BTC Hits New Record (#GotBitcoin?)

Fatburger And Others Feed $30 Million Into Ethereum For New Bond Offering (#GotBitcoin?)

Pornhub Will Integrate PumaPay Recurring Subscription Crypto Payments (#GotBitcoin?)

Intel SGX Vulnerability Discovered, Cryptocurrency Keys Threatened

Bitcoin’s Plunge Due To Manipulation, Traditional Markets Falling or PlusToken Dumping?

Countries That First Outlawed Crypto But Then Embraced It (#GotBitcoin?)

Bitcoin Maintains Gains As Global Equities Slide, US Yield Hits Record Lows

HTC’s New 5G Router Can Host A Full Bitcoin Node

India Supreme Court Lifts RBI Ban On Banks Servicing Crypto Firms (#GotBitcoin?)

Analyst Claims 98% of Mining Rigs Fail to Verify Transactions (#GotBitcoin?)

Blockchain Storage Offers Security, Data Transparency And immutability. Get Over it!

Black Americans & Crypto (#GotBitcoin?)

Coinbase Wallet Now Allows To Send Crypto Through Usernames (#GotBitcoin)

New ‘Simpsons’ Episode Features Jim Parsons Giving A Crypto Explainer For The Masses (#GotBitcoin?)

Crypto-currency Founder Met With Warren Buffett For Charity Lunch (#GotBitcoin?)

Witches Love Bitcoin

Bitcoin’s Potential To Benefit The African And African-American Community

Coinbase Becomes Direct Visa Card Issuer With Principal Membership

Bitcoin Achieves Major Milestone With Half A Billion Transactions Confirmed

Jill Carlson, Meltem Demirors Back $3.3M Round For Non-Custodial Settlement Protocol Arwen

Crypto Companies Adopt Features Similar To Banks (Only Better) To Drive Growth (#GotBitcoin?)

Top Graphics Cards That Will Turn A Crypto Mining Profit (#GotBitcoin?)

Bitcoin Usage Among Merchants Is Up, According To Data From Coinbase And BitPay

Top 10 Books Recommended by Crypto (#Bitcoin) Thought Leaders

Twitter Adds Bitcoin Emoji, Jack Dorsey Suggests Unicode Does The Same

Bitcoiners Are Now Into Fasting. Read This Article To Find Out Why

You Can Now Donate Bitcoin Or Fiat To Show Your Support For All Of Our Valuable Content

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Crypto-Friendly Silvergate Bank Goes Public On New York Stock Exchange (#GotBitcoin?)

Bitcoin’s Best Q1 Since 2013 To ‘Escalate’ If $9.5K Is Broken

Billionaire Investor Tim Draper: If You’re a Millennial, Buy Bitcoin

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If You Missed Out On Investing In Amazon, Bitcoin Might Be A Second Chance For You (#GotBitcoin?)

2020 And Beyond: Bitcoin’s Potential Protocol (Privacy And Scalability) Upgrades (#GotBitcoin?)

US Deficit Will Be At Least 6 Times Bitcoin Market Cap — Every Year (#GotBitcoin?)

Central Banks Warm To Issuing Digital Currencies (#GotBitcoin?)

Meet The Crypto Angel Investor Running For Congress In Nevada (#GotBitcoin?)

Introducing BTCPay Vault – Use Any Hardware Wallet With BTCPay And Its Full Node (#GotBitcoin?)

How Not To Lose Your Coins In 2020: Alternative Recovery Methods (#GotBitcoin?)

H.R.5635 – Virtual Currency Tax Fairness Act of 2020 ($200.00 Limit) 116th Congress (2019-2020)

Adam Back On Satoshi Emails, Privacy Concerns And Bitcoin’s Early Days

The Prospect of Using Bitcoin To Build A New International Monetary System Is Getting Real

How To Raise Funds For Australia Wildfire Relief Efforts (Using Bitcoin And/Or Fiat )

Former Regulator Known As ‘Crypto Dad’ To Launch Digital-Dollar Think Tank (#GotBitcoin?)

Currency ‘Cold War’ Takes Center Stage At Pre-Davos Crypto Confab (#GotBitcoin?)

A Blockchain-Secured Home Security Camera Won Innovation Awards At CES 2020 Las Vegas

Bitcoin’s Had A Sensational 11 Years (#GotBitcoin?)

Sergey Nazarov And The Creation Of A Decentralized Network Of Oracles

Google Suspends MetaMask From Its Play App Store, Citing “Deceptive Services”

Christmas Shopping: Where To Buy With Crypto This Festive Season

At 8,990,000% Gains, Bitcoin Dwarfs All Other Investments This Decade

Coinbase CEO Armstrong Wins Patent For Tech Allowing Users To Email Bitcoin

Bitcoin Has Got Society To Think About The Nature Of Money

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Dissidents And Activists Have A Lot To Gain From Bitcoin, If Only They Knew It (#GotBitcoin?)

At A Refugee Camp In Iraq, A 16-Year-Old Syrian Is Teaching Crypto Basics

Bitclub Scheme Busted In The US, Promising High Returns From Mining

Bitcoin Advertised On French National TV

Germany: New Proposed Law Would Legalize Banks Holding Bitcoin

How To Earn And Spend Bitcoin On Black Friday 2019

The Ultimate List of Bitcoin Developments And Accomplishments

Charities Put A Bitcoin Twist On Giving Tuesday

Family Offices Finally Accept The Benefits of Investing In Bitcoin

An Army Of Bitcoin Devs Is Battle-Testing Upgrades To Privacy And Scaling

Bitcoin ‘Carry Trade’ Can Net Annual Gains With Little Risk, Says PlanB

Max Keiser: Bitcoin’s ‘Self-Settlement’ Is A Revolution Against Dollar

Blockchain Can And Will Replace The IRS

China Seizes The Blockchain Opportunity. How Should The US Respond? (#GotBitcoin?)

Jack Dorsey: You Can Buy A Fraction Of Berkshire Stock Or ‘Stack Sats’

Bitcoin Price Skyrockets $500 In Minutes As Bakkt BTC Contracts Hit Highs

Bitcoin’s Irreversibility Challenges International Private Law: Legal Scholar

Bitcoin Has Already Reached 40% Of Average Fiat Currency Lifespan

Yes, Even Bitcoin HODLers Can Lose Money In The Long-Term: Here’s How (#GotBitcoin?)

Unicef To Accept Donations In Bitcoin (#GotBitcoin?)

Former Prosecutor Asked To “Shut Down Bitcoin” And Is Now Face Of Crypto VC Investing (#GotBitcoin?)

Switzerland’s ‘Crypto Valley’ Is Bringing Blockchain To Zurich

Next Bitcoin Halving May Not Lead To Bull Market, Says Bitmain CEO

Tim Draper Bets On Unstoppable Domain’s .Crypto Domain Registry To Replace Wallet Addresses (#GotBitcoin?)

Bitcoin Developer Amir Taaki, “We Can Crash National Economies” (#GotBitcoin?)

Veteran Crypto And Stocks Trader Shares 6 Ways To Invest And Get Rich

Is Chainlink Blazing A Trail Independent Of Bitcoin?

Nearly $10 Billion In BTC Is Held In Wallets Of 8 Crypto Exchanges (#GotBitcoin?)

SEC Enters Settlement Talks With Alleged Fraudulent Firm Veritaseum (#GotBitcoin?)

Blockstream’s Samson Mow: Bitcoin’s Block Size Already ‘Too Big’

Attorneys Seek Bank Of Ireland Execs’ Testimony Against OneCoin Scammer (#GotBitcoin?)

OpenLibra Plans To Launch Permissionless Fork Of Facebook’s Stablecoin (#GotBitcoin?)

Tiny $217 Options Trade On Bitcoin Blockchain Could Be Wall Street’s Death Knell (#GotBitcoin?)

Class Action Accuses Tether And Bitfinex Of Market Manipulation (#GotBitcoin?)

Sharia Goldbugs: How ISIS Created A Currency For World Domination (#GotBitcoin?)

Bitcoin Eyes Demand As Hong Kong Protestors Announce Bank Run (#GotBitcoin?)

How To Securely Transfer Crypto To Your Heirs

‘Gold-Backed’ Crypto Token Promoter Karatbars Investigated By Florida Regulators (#GotBitcoin?)

Crypto News From The Spanish-Speaking World (#GotBitcoin?)

Financial Services Giant Morningstar To Offer Ratings For Crypto Assets (#GotBitcoin?)

‘Gold-Backed’ Crypto Token Promoter Karatbars Investigated By Florida Regulators (#GotBitcoin?)

The Original Sins Of Cryptocurrencies (#GotBitcoin?)

Bitcoin Is The Fraud? JPMorgan Metals Desk Fixed Gold Prices For Years (#GotBitcoin?)

Israeli Startup That Allows Offline Crypto Transactions Secures $4M (#GotBitcoin?)

[PSA] Non-genuine Trezor One Devices Spotted (#GotBitcoin?)

Bitcoin Stronger Than Ever But No One Seems To Care: Google Trends (#GotBitcoin?)

First-Ever SEC-Qualified Token Offering In US Raises $23 Million (#GotBitcoin?)

You Can Now Prove A Whole Blockchain With One Math Problem – Really

Crypto Mining Supply Fails To Meet Market Demand In Q2: TokenInsight

$2 Billion Lost In Mt. Gox Bitcoin Hack Can Be Recovered, Lawyer Claims (#GotBitcoin?)

Fed Chair Says Agency Monitoring Crypto But Not Developing Its Own (#GotBitcoin?)

Wesley Snipes Is Launching A Tokenized $25 Million Movie Fund (#GotBitcoin?)

Mystery 94K BTC Transaction Becomes Richest Non-Exchange Address (#GotBitcoin?)

A Crypto Fix For A Broken International Monetary System (#GotBitcoin?)

Four Out Of Five Top Bitcoin QR Code Generators Are Scams: Report (#GotBitcoin?)

Waves Platform And The Abyss To Jointly Launch Blockchain-Based Games Marketplace (#GotBitcoin?)

Bitmain Ramps Up Power And Efficiency With New Bitcoin Mining Machine (#GotBitcoin?)

Ledger Live Now Supports Over 1,250 Ethereum-Based ERC-20 Tokens (#GotBitcoin?)

Miss Finland: Bitcoin’s Risk Keeps Most Women Away From Cryptocurrency (#GotBitcoin?)

Artist Akon Loves BTC And Says, “It’s Controlled By The People” (#GotBitcoin?)

Ledger Live Now Supports Over 1,250 Ethereum-Based ERC-20 Tokens (#GotBitcoin?)

Co-Founder Of LinkedIn Presents Crypto Rap Video: Hamilton Vs. Satoshi (#GotBitcoin?)

Crypto Insurance Market To Grow, Lloyd’s Of London And Aon To Lead (#GotBitcoin?)

No ‘AltSeason’ Until Bitcoin Breaks $20K, Says Hedge Fund Manager (#GotBitcoin?)

NSA Working To Develop Quantum-Resistant Cryptocurrency: Report (#GotBitcoin?)

Custody Provider Legacy Trust Launches Crypto Pension Plan (#GotBitcoin?)

Vaneck, SolidX To Offer Limited Bitcoin ETF For Institutions Via Exemption (#GotBitcoin?)

Russell Okung: From NFL Superstar To Bitcoin Educator In 2 Years (#GotBitcoin?)

Bitcoin Miners Made $14 Billion To Date Securing The Network (#GotBitcoin?)

Why Does Amazon Want To Hire Blockchain Experts For Its Ads Division?

Argentina’s Economy Is In A Technical Default (#GotBitcoin?)

Blockchain-Based Fractional Ownership Used To Sell High-End Art (#GotBitcoin?)

Portugal Tax Authority: Bitcoin Trading And Payments Are Tax-Free (#GotBitcoin?)

Bitcoin ‘Failed Safe Haven Test’ After 7% Drop, Peter Schiff Gloats (#GotBitcoin?)

Bitcoin Dev Reveals Multisig UI Teaser For Hardware Wallets, Full Nodes (#GotBitcoin?)

Bitcoin Price: $10K Holds For Now As 50% Of CME Futures Set To Expire (#GotBitcoin?)

Bitcoin Realized Market Cap Hits $100 Billion For The First Time (#GotBitcoin?)

Stablecoins Begin To Look Beyond The Dollar (#GotBitcoin?)

Bank Of England Governor: Libra-Like Currency Could Replace US Dollar (#GotBitcoin?)

Binance Reveals ‘Venus’ — Its Own Project To Rival Facebook’s Libra (#GotBitcoin?)

The Real Benefits Of Blockchain Are Here. They’re Being Ignored (#GotBitcoin?)

CommBank Develops Blockchain Market To Boost Biodiversity (#GotBitcoin?)

SEC Approves Blockchain Tech Startup Securitize To Record Stock Transfers (#GotBitcoin?)

SegWit Creator Introduces New Language For Bitcoin Smart Contracts (#GotBitcoin?)

You Can Now Earn Bitcoin Rewards For Postmates Purchases (#GotBitcoin?)

Bitcoin Price ‘Will Struggle’ In Big Financial Crisis, Says Investor (#GotBitcoin?)

Fidelity Charitable Received Over $100M In Crypto Donations Since 2015 (#GotBitcoin?)

Would Blockchain Better Protect User Data Than FaceApp? Experts Answer (#GotBitcoin?)

Just The Existence Of Bitcoin Impacts Monetary Policy (#GotBitcoin?)

What Are The Biggest Alleged Crypto Heists And How Much Was Stolen? (#GotBitcoin?)

IRS To Cryptocurrency Owners: Come Clean, Or Else!

Coinbase Accidentally Saves Unencrypted Passwords Of 3,420 Customers (#GotBitcoin?)

Bitcoin Is A ‘Chaos Hedge, Or Schmuck Insurance‘ (#GotBitcoin?)

Bakkt Announces September 23 Launch Of Futures And Custody

Coinbase CEO: Institutions Depositing $200-400M Into Crypto Per Week (#GotBitcoin?)

Researchers Find Monero Mining Malware That Hides From Task Manager (#GotBitcoin?)

Crypto Dusting Attack Affects Nearly 300,000 Addresses (#GotBitcoin?)

A Case For Bitcoin As Recession Hedge In A Diversified Investment Portfolio (#GotBitcoin?)

SEC Guidance Gives Ammo To Lawsuit Claiming XRP Is Unregistered Security (#GotBitcoin?)

15 Countries To Develop Crypto Transaction Tracking System: Report (#GotBitcoin?)

US Department Of Commerce Offering 6-Figure Salary To Crypto Expert (#GotBitcoin?)

Mastercard Is Building A Team To Develop Crypto, Wallet Projects (#GotBitcoin?)

Canadian Bitcoin Educator Scams The Scammer And Donates Proceeds (#GotBitcoin?)

Amazon Wants To Build A Blockchain For Ads, New Job Listing Shows (#GotBitcoin?)

Shield Bitcoin Wallets From Theft Via Time Delay (#GotBitcoin?)

Blockstream Launches Bitcoin Mining Farm With Fidelity As Early Customer (#GotBitcoin?)

Commerzbank Tests Blockchain Machine To Machine Payments With Daimler (#GotBitcoin?)

Bitcoin’s Historical Returns Look Very Attractive As Online Banks Lower Payouts On Savings Accounts (#GotBitcoin?)

Man Takes Bitcoin Miner Seller To Tribunal Over Electricity Bill And Wins (#GotBitcoin?)

Bitcoin’s Computing Power Sets Record As Over 100K New Miners Go Online (#GotBitcoin?)

Walmart Coin And Libra Perform Major Public Relations For Bitcoin (#GotBitcoin?)

Judge Says Buying Bitcoin Via Credit Card Not Necessarily A Cash Advance (#GotBitcoin?)

Poll: If You’re A Stockowner Or Crypto-Currency Holder. What Will You Do When The Recession Comes?

1 In 5 Crypto Holders Are Women, New Report Reveals (#GotBitcoin?)

Beating Bakkt, Ledgerx Is First To Launch ‘Physical’ Bitcoin Futures In Us (#GotBitcoin?)

Facebook Warns Investors That Libra Stablecoin May Never Launch (#GotBitcoin?)

Government Money Printing Is ‘Rocket Fuel’ For Bitcoin (#GotBitcoin?)

Bitcoin-Friendly Square Cash App Stock Price Up 56% In 2019 (#GotBitcoin?)

Safeway Shoppers Can Now Get Bitcoin Back As Change At 894 US Stores (#GotBitcoin?)

TD Ameritrade CEO: There’s ‘Heightened Interest Again’ With Bitcoin (#GotBitcoin?)

Venezuela Sets New Bitcoin Volume Record Thanks To 10,000,000% Inflation (#GotBitcoin?)

Newegg Adds Bitcoin Payment Option To 73 More Countries (#GotBitcoin?)

China’s Schizophrenic Relationship With Bitcoin (#GotBitcoin?)

More Companies Build Products Around Crypto Hardware Wallets (#GotBitcoin?)

Bakkt Is Scheduled To Start Testing Its Bitcoin Futures Contracts Today (#GotBitcoin?)

Bitcoin Network Now 8 Times More Powerful Than It Was At $20K Price (#GotBitcoin?)

Crypto Exchange BitMEX Under Investigation By CFTC: Bloomberg (#GotBitcoin?)

“Bitcoin An ‘Unstoppable Force,” Says US Congressman At Crypto Hearing (#GotBitcoin?)

Bitcoin Network Is Moving $3 Billion Daily, Up 210% Since April (#GotBitcoin?)

Cryptocurrency Startups Get Partial Green Light From Washington

Fundstrat’s Tom Lee: Bitcoin Pullback Is Healthy, Fewer Searches Аre Good (#GotBitcoin?)

Bitcoin Lightning Nodes Are Snatching Funds From Bad Actors (#GotBitcoin?)

The Provident Bank Now Offers Deposit Services For Crypto-Related Entities (#GotBitcoin?)

Bitcoin Could Help Stop News Censorship From Space (#GotBitcoin?)

US Sanctions On Iran Crypto Mining — Inevitable Or Impossible? (#GotBitcoin?)

US Lawmaker Reintroduces ‘Safe Harbor’ Crypto Tax Bill In Congress (#GotBitcoin?)

EU Central Bank Won’t Add Bitcoin To Reserves — Says It’s Not A Currency (#GotBitcoin?)

The Miami Dolphins Now Accept Bitcoin And Litecoin Crypt-Currency Payments (#GotBitcoin?)

Trump Bashes Bitcoin And Alt-Right Is Mad As Hell (#GotBitcoin?)

Goldman Sachs Ramps Up Development Of New Secret Crypto Project (#GotBitcoin?)

Blockchain And AI Bond, Explained (#GotBitcoin?)

Grayscale Bitcoin Trust Outperformed Indexes In First Half Of 2019 (#GotBitcoin?)

XRP Is The Worst Performing Major Crypto Of 2019 (GotBitcoin?)

Bitcoin Back Near $12K As BTC Shorters Lose $44 Million In One Morning (#GotBitcoin?)

As Deutsche Bank Axes 18K Jobs, Bitcoin Offers A ‘Plan ฿”: VanEck Exec (#GotBitcoin?)

Argentina Drives Global LocalBitcoins Volume To Highest Since November (#GotBitcoin?)

‘I Would Buy’ Bitcoin If Growth Continues — Investment Legend Mobius (#GotBitcoin?)

Lawmakers Push For New Bitcoin Rules (#GotBitcoin?)

Facebook’s Libra Is Bad For African Americans (#GotBitcoin?)

Crypto Firm Charity Announces Alliance To Support Feminine Health (#GotBitcoin?)

Canadian Startup Wants To Upgrade Millions Of ATMs To Sell Bitcoin (#GotBitcoin?)

Trump Says US ‘Should Match’ China’s Money Printing Game (#GotBitcoin?)

Casa Launches Lightning Node Mobile App For Bitcoin Newbies (#GotBitcoin?)

Bitcoin Rally Fuels Market In Crypto Derivatives (#GotBitcoin?)

World’s First Zero-Fiat ‘Bitcoin Bond’ Now Available On Bloomberg Terminal (#GotBitcoin?)

Buying Bitcoin Has Been Profitable 98.2% Of The Days Since Creation (#GotBitcoin?)

Another Crypto Exchange Receives License For Crypto Futures

From ‘Ponzi’ To ‘We’re Working On It’ — BIS Chief Reverses Stance On Crypto (#GotBitcoin?)

These Are The Cities Googling ‘Bitcoin’ As Interest Hits 17-Month High (#GotBitcoin?)

Venezuelan Explains How Bitcoin Saves His Family (#GotBitcoin?)

Quantum Computing Vs. Blockchain: Impact On Cryptography

This Fund Is Riding Bitcoin To Top (#GotBitcoin?)

Bitcoin’s Surge Leaves Smaller Digital Currencies In The Dust (#GotBitcoin?)

Bitcoin Exchange Hits $1 Trillion In Trading Volume (#GotBitcoin?)

Bitcoin Breaks $200 Billion Market Cap For The First Time In 17 Months (#GotBitcoin?)

You Can Now Make State Tax Payments In Bitcoin (#GotBitcoin?)

Religious Organizations Make Ideal Places To Mine Bitcoin (#GotBitcoin?)

Goldman Sacs And JP Morgan Chase Finally Concede To Crypto-Currencies (#GotBitcoin?)

Bitcoin Heading For Fifth Month Of Gains Despite Price Correction (#GotBitcoin?)

Breez Reveals Lightning-Powered Bitcoin Payments App For IPhone (#GotBitcoin?)

Big Four Auditing Firm PwC Releases Cryptocurrency Auditing Software (#GotBitcoin?)

Amazon-Owned Twitch Quietly Brings Back Bitcoin Payments (#GotBitcoin?)

JPMorgan Will Pilot ‘JPM Coin’ Stablecoin By End Of 2019: Report (#GotBitcoin?)

Is There A Big Short In Bitcoin? (#GotBitcoin?)

Coinbase Hit With Outage As Bitcoin Price Drops $1.8K In 15 Minutes

Samourai Wallet Releases Privacy-Enhancing CoinJoin Feature (#GotBitcoin?)

There Are Now More Than 5,000 Bitcoin ATMs Around The World (#GotBitcoin?)

You Can Now Get Bitcoin Rewards When Booking At Hotels.Com (#GotBitcoin?)

North America’s Largest Solar Bitcoin Mining Farm Coming To California (#GotBitcoin?)

Bitcoin On Track For Best Second Quarter Price Gain On Record (#GotBitcoin?)

Bitcoin Hash Rate Climbs To New Record High Boosting Network Security (#GotBitcoin?)

Bitcoin Exceeds 1Million Active Addresses While Coinbase Custodies $1.3B In Assets

Why Bitcoin’s Price Suddenly Surged Back $5K (#GotBitcoin?)

Bitcoin’s Lightning Comes To Apple Smartwatches With New App (#GotBitcoin?)

E-Trade To Offer Crypto Trading (#GotBitcoin)

US Rapper Lil Pump Starts Accepting Bitcoin Via Lightning Network On Merchandise Store (#GotBitcoin?)

Bitfinex Used Tether Reserves To Mask Missing $850 Million, Probe Finds (#GotBitcoin?)

21-Year-Old Jailed For 10 Years After Stealing $7.5M In Crypto By Hacking Cell Phones (#GotBitcoin?)

You Can Now Shop With Bitcoin On Amazon Using Lightning (#GotBitcoin?)

Afghanistan, Tunisia To Issue Sovereign Bonds In Bitcoin, Bright Future Ahead (#GotBitcoin?)

Crypto Faithful Say Blockchain Can Remake Securities Market Machinery (#GotBitcoin?)

Disney In Talks To Acquire The Owner Of Crypto Exchanges Bitstamp And Korbit (#GotBitcoin?)

Crypto Exchange Gemini Rolls Out Native Wallet Support For SegWit Bitcoin Addresses (#GotBitcoin?)

Binance Delists Bitcoin SV, CEO Calls Craig Wright A ‘Fraud’ (#GotBitcoin?)

Bitcoin Outperforms Nasdaq 100, S&P 500, Grows Whopping 37% In 2019 (#GotBitcoin?)

Bitcoin Passes A Milestone 400 Million Transactions (#GotBitcoin?)

Future Returns: Why Investors May Want To Consider Bitcoin Now (#GotBitcoin?)

Next Bitcoin Core Release To Finally Connect Hardware Wallets To Full Nodes (#GotBitcoin?)

Major Crypto-Currency Exchanges Use Lloyd’s Of London, A Registered Insurance Broker (#GotBitcoin?)

How Bitcoin Can Prevent Fraud And Chargebacks (#GotBitcoin?)

Why Bitcoin’s Price Suddenly Surged Back $5K (#GotBitcoin?)

Zebpay Becomes First Exchange To Add Lightning Payments For All Users (#GotBitcoin?)

Coinbase’s New Customer Incentive: Interest Payments, With A Crypto Twist (#GotBitcoin?)

The Best Bitcoin Debit (Cashback) Cards Of 2019 (#GotBitcoin?)

Real Estate Brokerages Now Accepting Bitcoin (#GotBitcoin?)

Ernst & Young Introduces Tax Tool For Reporting Cryptocurrencies (#GotBitcoin?)

How Will Bitcoin Behave During A Recession? (#GotBitcoin?)

Investors Run Out of Options As Bitcoin, Stocks, Bonds, Oil Cave To Recession Fears (#GotBitcoin?)

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