Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson

  • Blockchain, a bitcoin wallet start-up, has raised $40 million led by venture capital firm Lakestar, Google’s investment arm GV, and billionaire Richard Branson, the company said on Thursday.
  • The investment comes at a time of rising interest in cryptocurrencies, especially bitcoin, which recently hit a record high and has seen a massive rally since the start of the year.
  • Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out transactions with other users.
  • The money will be used to expand the team further and invest in more research and development, Blockchain CEO Peter Smith, told CNBC on Thursday.
  • In addition, the start-up is looking to open new offices in different countries to expand.

Blockchain will use the money to expand into new territories.
Continue reading “Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson”

Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson

  • Blockchain, a bitcoin wallet start-up, has raised $40 million led by venture capital firm Lakestar, Google’s investment arm GV, and billionaire Richard Branson, the company said on Thursday.
  • The investment comes at a time of rising interest in cryptocurrencies, especially bitcoin, which recently hit a record high and has seen a massive rally since the start of the year.
  • Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out transactions with other users.
  • The money will be used to expand the team further and invest in more research and development, Blockchain CEO Peter Smith, told CNBC on Thursday.
  • In addition, the start-up is looking to open new offices in different countries to expand.

Blockchain will use the money to expand into new territories.
Continue reading “Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson”

IBM CEO Ginni Rometty responds to Warren Buffett selling IBM shares

Great interview w #IBM CEO Ginni Rometty Touching on #Iot #blockchain #AI

  • IBM’s stock took a major hit when billionaire investor Warren Buffett said he sold about a third of his IBM shares, but CEO Ginni Rometty seemed unfazed when asked about his move.
  • “And the trick to being a company in tech, which is a viciously competitive environment, that’s absolutely right, is you’ve got to keep reinventing.
  • And what IBM is for is for someone who values high value as a company.”
  • At the time of his sale, the Berkshire Hathaway chairman and CEO cited “pretty tough competition” and a changing playing field.
  • “I don’t value IBM the same way that I did 6 years ago when I started buying … I’ve revalued it somewhat downward,” Buffett told CNBC.

Jim Cramer sat down with IBM CEO Ginni Rometty to ask her about billionaire shareholder Warren Buffett selling a third of his stake.
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US heading for recession after 2 years of unsustainable growth, economist says

US heading for recession after 2 years of unsustainable growth, economist says #Bitcoin

  • The U.S. is headed for a recession in the next two years as excessive fiscal stimulus from the President Donald Trump administration takes the economy into unsustainable territory, Adam Posen, president of the Peterson Institute for International Economics, told CNBC Tuesday.
  • Posen, who served at the Federal Reserve Bank of New York in the mid-90s, said that GDP (gross domestic product) growth targets of 3 percent or more are unobtainable given current productivity and employment rates in the U.S. Add to that intended tax cuts and financial deregulation under Trump and the country will find itself trapped in a boom-bust cycle, Posen said.
  • “The work force is only growing at 0.5 percent and productivity’s at 1 percent so it can’t reach these 3-4 percent growth targets.
  • If unemployment is, unfortunately, about as low as it’s going to go, you can’t pick this up,” he told CNBC Tuesday.

The U.S. is headed for a recession in the next two years as excessive fiscal stimulus takes the economy into unsustainable territory, says economist.
Continue reading “US heading for recession after 2 years of unsustainable growth, economist says”

Mark Cuban: Basic income ‘the worst possible response’ to job losses from robots

  • Universal basic income (UBI) is “the worst possible response” to the unemployment likely to be caused by robots and artificial intelligence, business mogul Mark Cuban has said, putting himself in stark contrast to the growing chorus of major technology CEOs who back such a policy.
  • On Monday, the Dallas Mavericks owner tweeted his concern about job losses as a result of technology and said “we need to prepare for it.”
  • Scott Santens, a basic income advocate and writer, replied to Cuban’s initial tweet asking him whether he agrees with the idea of UBI.
  • The billionaire said it was one of the “worst possible responses.”
  • UBI is a policy in which governments pay each citizen the same amount of money regardless of whether they are working or not.

Mark Cuban’s views on basic income puts him in stark contrast to the growing chorus of major technology CEOs who back such a policy.
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After gold’s longest losing streak in 20 months, some spot a buying opportunity

  • Gold logged its ninth straight losing session on Friday, for the metal’s longest string of declines since July 2015.
  • “We think right now could be a good entry point for gold,” RBC Capital Markets commodity strategist Christopher Louney said Friday on CNBC’s “Power Lunch.”
  • In prior months, Louney has staked a bearish view on the metal, arguing that gold had been driven higher by investor demand which would eventually dry up.
  • David Seaburg, head of equity sales trading at Cowen, advises holding off on buying gold until the actual Fed report is released.
  • Looking at the GLD gold ETF, which closed Friday trading at $114.72, Seaburg predicted that after the actual hike announcement, “you probably get more of a pullback, maybe around the $113-ish level.”

Gold logged its ninth straight losing session Friday, for the metal’s longest string of declines since July 2015. But does the drop spell opportunity?
Continue reading “After gold’s longest losing streak in 20 months, some spot a buying opportunity”