“I wouldn’t be surprised at all if it went to $10,000”: Jeff Gundlach on Bitcoin Price

“It looks like it’s being liquidated. I’m not bullish at that $20,000 or $21,000 on bitcoin. I wouldn’t be surprised at all if it went to $10,000,” billionaire investor Jeff Gundlach told CNBC in a “Closing Bell” interview.

Bitcoin fell to $20,378 immediately after the Fed announced its biggest interest-rate hike since 1994 on Wednesday, but rebounded back above $21,000. It was trading at $21,693 on Thursday, up about 6% in the last 24 hours.

Biggest Bitcoin Whale Buying Up BTC, Stockpiles $20,900,000 in BTC

The biggest non-exchange Bitcoin whale in the world is buying up BTC in June despite bearish price movement. The whale has increased its net holdings by 927 Bitcoin this month.

The address purchased 300 BTC on June 7th, sold 500 BTC on June 9th, and then bought another 425 BTC on June 13th, 488 BTC on June 14th and 214 BTC on June 15th. The whale is the third-richest wallet in the world, behind the Binance and Bitfinex cold wallets.

El Salvador Claims Not to Have Any Losses Due to Bitcoin Price Dive

Alejandro Zelaya, the minister of finance of El Salvador, reacted to the recent media attacks on the nation’s strategy of investing in Bitcoin (BTC) by calling the allegations of fiscal risks “extremely superficial.”

The official underscored the impropriety of allegations that around $40 million had been lost by the country’s budget because of the cryptocurrency rate drop since the highest point at which El Salvador has purchased its first potion for $60,300 per BTC in October 2021.

Binance Resumes Bitcoin Withdrawals After Several Hours of Stuck Transaction

Binance on Monday morning temporarily paused bitcoin withdrawals “due to a stuck transaction causing a backlog.”

Binance founder and CEO Changpeng Zhao said the problem would be resolved in around 30 minutes. He later said it would take “a bit longer to fix than [his] initial estimate.” Binance said in a tweet at 11:32 a.m. on Wall Street that bitcoin withdrawals had resumed.

Pension Funds Are Adding Bitcoin to Diversify Investment, Grayscale CEO Says

Grayscale CEO Michael Sonnenshein said during a CNBC interview on June 10 that pension funds are considering Bitcoin as an asset class for diversifying their portfolio.

Last month, Fidelity Investments, the biggest pension plans provider in the US, said those participating in its 401(k) plan can now put 20% of their retirement funds in Bitcoin.

Elon Musk and Saylor Share a Combined Loss of $1.5B on Bitcoin Buys

According to Bitcointreasuries.net, the 130,000 and 43,00 Bitcoin (BTC) held by Microstrategy and Tesla respectively are worth considerable sums less. They are down by almost $2 billion dollars on their Bitcoin buys.

For Microstrategy, Michael Saylor splashed out almost $4 billion ($3,965,863,658) on 129,218 BTC, approximately 0.615% of the 21 million total supply. For Elon Musk, whose Tesla automotive company bought over 40,000 Bitcoin during the 2021 bull market, his $1 billion profit has gone south.

Bitcoin Tumbles Below $26K, Touches 18-Month Low

The world’s largest digital token, Bitcoin, tumbled as much as 7% to $25,366, at an 18-month low. The most popular crypto is down more than 43% so far this year (YTD), and is trading far below its record high of $69,000 it had hit in November last year.

Bitcoin price continued its selloff as part of broader declines in cryptocurrencies after a sharp rise in US inflation triggered risk-off sentiment.

Treasury Secretary Calls Bitcoin a ‘Very Risky Investment’ for Retirement Savings

Treasury Secretary Janet Yellen on Thursday warned against including Bitcoin and other cryptocurrencies in retirement plans, calling them a “very risky investment”.

Yellen’s comments came at a New York Times event in Washington, in response to a question about Fidelity’s April announcement that it will let workers save up to 20% of their retirement funds in Bitcoin.