Elon Musk Dismantles Bitcoin Bit By Bit

By Rob Berger

Like plucking the petals off a tulip, Elon Musk seems to be on a one-man mission to bring down Bitcoin. We’ll guess at why he’s doing it in a minute. Let’s first focus on what he’s doing and what it means for Bitcoin.

The current drama started on January 29, 2021. It was on that day that Elon Musk added the hashtag #Bitcoin to his Twitter bio. Bitcoin skyrocketed from $32,000 to $38,000 on the news. So much for fundamentals.

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MN House passes legal cannabis bill; no future in Senate

By Tim Pugmire

The Minnesota House voted 72-61 Thursday night to legalize cannabis for adult use — a significant step for the legislation. But Minnesota is unlikely to join more than 15 other states in making marijuana legal because majority Republicans in the state Senate will likely prevent it from becoming law this year. 

Under the bill, Minnesotans 21 and older would be allowed to possess up to 2 ounces of cannabis in public and up to 10 pounds in their personal residence.

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Marijuana Megamerger Would Create a U.S. Cannabis Giant

By Connor Smith

Trulieve Cannabis said it plans to acquire Harvest Health & Recreation in a $2.1 billion all-stock deal. The U.S. cannabis deal would give Florida’s dominant player a notable southwestern U.S. footprint.

Trulieve (ticker: TCNNF) and Harvest Health (HRVSF) combined would be one of the largest cannabis companies in the world, in terms of sales. Combining analyst estimates for both companies puts the estimated 2021 revenue at $1.24 billion, only slightly below consensus estimates for Curaleaf (CURLF) at $1.26 billion. Trulieve would also be the most profitable, notes CEO Kim Rivers, pointing to consensus estimates for combined 2021 adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $461 million.

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How to Use Tech to Capture Your Family History

By LISA KANAREK

IN LESS THAN 10 years, one in five Americans will be over 65 years old. As our parents and grandparents age, we grow one day closer to losing the opportunity to learn their life stories. The good news is that with the various recording options available, you don’t have to be an award-winning filmmaker or videographer to preserve your loved one’s history.

Throughout our Midwest childhood, my siblings and I wanted to learn more about our relatives who perished in the atrocities of World War II. We were eager to discover details about our dad’s life during the war, but at the same time, none of us wanted to upset him by conjuring painful memories. Also, my mom was adamant that we not bring up the subject.

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Move over Bitcoin, Ether tops $3,000

By Joanna Ossinger

Bitcoin’s domination of the total cryptocurrency market value is declining as its next-biggest rival Ether reaches the $3,000 milestone.

The rise of Ether suggests there’s room for more than one winner among digital tokens as the sector evolves. Bitcoin now accounts for about 46% of total crypto market value, down from roughly 70% at the start of the year, and Ether makes up 15%, according to tracker CoinGecko.

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Will cannabis legalization reduce crime in Mexico? Has it in the US?

By Vanda Felbab-Brown

Soon, Mexico will likely become the world’s third country to legalize all aspects of cannabis production and all types of the plant’s use. In a series of columns, I explored whether the legalization was likely to deliver the promised advancement in civil liberties in Mexico and generate high tax revenues and legal incomes for farmers of illicit crops, also the negative environmental impacts of cannabis cultivation, including water depletion. In this column, I will examine whether cannabis legalization is likely to eliminate the black market, deprive violent criminal groups of money, and reduce criminal violence.

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Bitcoin Rebounds After Hitting Lowest Level Since March

By Joanna Ossinger

Bitcoin rallied back Monday as investors took advantage of the lowest levels in seven weeks to pile back in.

The largest cryptocurrency rose as much as 13% to above $54,000, the biggest intraday gain since early February.

The move comes as JPMorgan Chase & Co. is preparing to introduce an actively managed Bitcoin fund to some clients as soon as this summer, Coindesk reported, citing unidentified people familiar with the matter. The rebound reverses a two-week slump that had pushed Bitcoin below its 100-day moving average amid technical warnings from Wall Street and fears of a growing crypto bubble.

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JPMorgan Sounds Urgent Alarm On Bitcoin Price ‘Momentum’ After $300 Billion Bitcoin And Crypto Sell-Off

By Billy Bambrough

Bitcoin, after hitting a fresh all-time high last week, is showing signs of weakness (with some predicting bitcoin could be about to peak).

The bitcoin price, now hovering around $55,000 per bitcoin, is currently up almost double where it started 2021—with the wider cryptocurrency market riding its coattails to a total value of over $2 trillion.

Now, with a sudden weekend sell-off leaving bitcoin traders and investors reeling, JPMorgan analysts have warned that if the bitcoin price doesn’t regain ground above $60,000 soon, bitcoin’s momentum signals will collapse.

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Bitcoin slumps 14% as pullback from record gathers pace

By Reuters

Bitcoin, the world’s biggest cryptocurrency, fell as much as 14% to $51,541 on Sunday, reversing most of the big gains it made over the past week.

Bitcoin was last trading down 10% at $53,991 as of 1320 GMT, a whopping $12,000 below record highs set on Wednesday. Smaller rival Ether , the coin linked to the ethereum blockchain network, dropped 10% to $2,101.

Data website CoinMarketCap cited a blackout in China’s Xinjiang region, which reportedly powers a lot of bitcoin mining, for the selloff.

Luke Sully, CEO at digital asset treasury specialist Ledgermatic, said in an email that people “may have sold on the news of the power outage in China and not the impact it actually had on the network”.

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Bitcoin Approaches $65,000 With Coinbase Listing Fueling Demand

By Yakob Peterseil

Bitcoin breached the $64,000 level for the first time as investor demand for all things crypto surged amid Coinbase Global Inc.’s public debut.

The direct listing of the biggest U.S. crypto exchange is seen pushing tokens even more into the mainstream of investing, exposing legions of potential buyers to the digital asset class that have grown into a $2 trillion industry in little more than a decade. Bitcoin, the original and biggest crypto coin, is valued at more than $1 trillion alone after a more than 800% surge in the past year.

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