U.S. Department Of Justice Reveals Growing Bitcoin And Crypto National Security Threat Could Herald ‘Oncoming Storm’

Bitcoin and cryptocurrency use by terrorists, rogue nations and other criminals has grown in recent years—with high-profile attacks drawing international attention.

The illicit use of bitcoin and cryptocurrency ranges from money laundering and tax evasion to extortion, with cyber criminals increasingly demanding bitcoin and crypto payments in ransomware attacks on computer systems.

Now, the U.S. Department of Justice (DOJ) has warned the emergence of bitcoin and similar cryptocurrencies is a growing threat to U.S. national security, with the attorney general William Barr’s Cyber-Digital Task Force calling it the “first raindrops of an oncoming storm.”

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“Current terrorist use of cryptocurrency may represent the first raindrops of

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Billionaire ‘Bond King’ Jeff Gundlach says stocks will crash, predicts a weaker dollar, and questions bitcoin in a new interview. Here are the 10 best quotes.



Jeffrey Gundlach wearing a suit and tie: 2011 Jeffrey Gundlach co-founder and Chief Executive Officer and Chief Investment Officer of DoubleLine speaks at the 16th annual Sohn Investment Conference in New York May 25, 2011. REUTERS/Jessica Rinaldi


© REUTERS/Jessica Rinaldi
2011 Jeffrey Gundlach co-founder and Chief Executive Officer and Chief Investment Officer of DoubleLine speaks at the 16th annual Sohn Investment Conference in New York May 25, 2011. REUTERS/Jessica Rinaldi

  • Jeff Gundlach, the billionaire investor known as the “Bond King,” predicted in a RealVision interview published on Friday that stocks would crash in less than 18 months.
  • The DoubleLine Capital CEO also said the US dollar would dive in the long run, argued that tech stocks like Apple and Amazon were the only US equities worth owning, and questioned bitcoin, welfare, and Chipotle’s valuation.
  • Here are Gundlach’s 10 best quotes from the discussion.
  • Visit Business Insider’s homepage for more stories.

In a RealVision interview filmed on October 1 and released on Friday, the billionaire “Bond King” Jeff Gundlach said stocks would crash within 18 months, predicted that the US dollar would tumble in the long run, and

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Will Bitcoin Make A Good Investment? Economic Uncertainty (Cryptocurrency:BTC-USD)

In our previous analysis, we discussed one primary reason that Bitcoin will make a good long-term investment as the price is likely to go up and stabilize once institutions gain SEC-regulated access. Fidelity and the NYSE-founded Bakkt are two examples of platforms that will influence the first phase of bitcoin’s broader adoption. These two platforms have not yet launched, but a new supply-and-demand dynamic will occur when institutional investors can access cryptocurrencies.

The next phase for Bitcoin stability and price support will hinge on the eroding trust in fiat currencies – both globally and also from younger generations who are digital natives with good reason to seek alternatives outside of the fiat system.

Global Unrest Sees Bitcoin as Alternative to Fiat Currency

Economists have discussed the effects of going off the gold standard during Nixon’s presidency ad nauseum, yet this has been a futile conversation in the past as there

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Will Bitcoin Make A Good Investment? Institutional Adoption (Cryptocurrency:BTC-USD)

Bitcoin buyers fall into two camps (primarily). Those who trade the cryptocurrency and those who “stack Satoshis,” a term for stockpiling on Bitcoin as a means of building long-term wealth. Stacking Satoshis may be the most successful tactic due to a few key iterations that Bitcoin will go through to ultimately strengthen its price and reputation as a solid investment choice. Many Bitcoin experts expect Bitcoin to be at the height of its development in 2025.

There are key reasons as to why Bitcoin will make a solid long-term asset over the next five years and may reach its peak as a new technology with mass adoption in seven to ten years. This series explores why strategically entering the bitcoin market at a good entry price will make a solid investment for the future.

Bitcoin Investment Cycle: Institutions

Bitcoin’s investment cycle is important to understand as the cryptocurrency has the

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Goldman Sachs Warned It Will Soon Be Scrambling To ‘Catch Up’ On Bitcoin

Goldman Sachs
GS
, along with other Wall Street giants, has been eyeing bitcoin and cryptocurrency markets this year—and has already taken some big steps into the space.

Those steps follow the bitcoin price, up some 40% so far this year and hovering at a little over $10,000 per bitcoin, finding support through a roller coaster 2020 as a potential hedge against a wave of inflation that some see on the horizon.

Now, after it was announced last month a 20-year Goldman Sachs veteran will be joining merchant bank Galaxy Digital in early 2021, the firm’s founder and chief executive, Michael Novogratz, has warned Goldman will soon be scrambling to catch up with its head start in bitcoin and crypto.

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Crypto For Congress Puts “American-Made” Bitcoin Into The Hands Of Policymakers

This week, the Chamber of Digital Commerce PAC sent all 535 members of the United States Congress about 0.0047 BTC ($50 worth at the time), in an effort to educate the country’s legislators around cryptocurrency and blockchain technology that it calls Crypto For Congress.

Leveraging Federal Election Commission rules that allow for cryptocurrency-based campaign contributions and its own Political Action Committee to make the BTC donations, the Chamber of Digital Commerce ultimately hopes to motivate these lawmakers to embrace the advantages presented by blockchain technology.

“Our industry faces a number of regulatory challenges and it’s important for our government officials to have a working knowledge of how this technology works,” Perianne Boring, founder and president of the Chamber of Digital Commerce, told Bitcoin Magazine. “If you look at tax laws, securities laws, if you look at compliance obligations, there are a lot of examples of regulators and policymakers who

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Analysts Can’t Agree on What Prompted Big Spike in New Bitcoin Addresses

Bitcoin has seen a rapid rise in the creation of addresses on the blockchain so far this month, with one industry executive saying it’s likely due to traders moving funds off the legally troubled BitMEX exchange. Others point elsewhere.

  • The “entities net growth” metric from analytics firm Glassnode, which measures the daily change in unique entities or clusters of addresses controlled by a single participant, rose sharply by 244% from 9,750 to 33,620 in the first six days of October.
  • Tuesday’s tally of 33,620 was the highest since Oct. 3, 2018.
  • The surge in new entities noticeably picked up the pace in the wake of U.S. authorities’ recent decision to bring civil and criminal charges against cryptocurrency derivatives trading platform BitMEX and users’ resulting panicked migration of funds to other exchanges.
  • BitMEX has witnessed an outflow of at least 40,000 BTC (worth around $424 million at press time) since the
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A Major Bitcoin Exchange Is In Even Worse Trouble Than Thought

The bitcoin and cryptocurrency world was rocked last week by news U.S. authorities had levied charges against major bitcoin and crypto exchange BitMEX and its leadership team.

BitMEX executives Arthur Hayes, Benjamin Delo and Samuel Reed were indicted by the U.S. government on October 1, accused of flouting U.S. banking laws while serving American customers.

Now, in a further blow to the controversial Seychelles-based bitcoin and cryptocurrency exchange, the influential blockchain data company Chainalysis has branded BitMEX a “high-risk” exchange—with external data showing investors have removed almost 50,000 bitcoin tokens from BitMEX since last week.

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Bitcoin Market Cap To Hit $1 Trillion By 2022, Blockstream CEO Predicts

KEY POINTS

  • Blockstream CEO Adam Back believes Bitcoin’s market cap will increase by 400% within two years
  • This is in response to another forecast which said Bitcoin will hit that mark by 2025
  • At the moment, Bitcoin is marred by lower volatility

Famed cryptographer and Blockstream CEO Adam Back believes Bitcoin can easily hit a market cap of $1 trillion by 2022, three years earlier than the estimate from investment company Ark.

Ark made news in the past because of its aggressive price prediction for Tesla. Back said Ark’s forecast that Bitcoin would hit a $1 trillion market cap by 2025 was very conservative. “I’d say Bitcoin likely sees a $1 trillion market cap within 2 years, probably sooner,” he said on Twitter.

Back’s message was a response to Yassine Elmandjra, an analyst from Ark Investment Management. Last month, Elmandjra said Bitcoin was in its path to monetization, with substantial

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Twitter CEO Jack Dorsey Praises Bitcoin, Calls It ‘Future’ Of Company Security

By Landon Manning

Twitter co-founder and CEO and longtime Bitcoin advocate Jack Dorsey has added to his praise of the cryptocurrency and its underlying blockchain, saying it is the future of security and other protocols on the social media platform in wake of recent hacks.

Dorsey has been a persistent advocate for the possibilities of Bitcoin for quite a while now, saying it was 10 years away from being the world’s single currency in 2018 and calling it the “best” of all available cryptocurrencies earlier in September 2020. And, later that same month, Dorsey made more specific and motivated predictions about some parts of Bitcoin’s future, particularly those parts he can take advantage of at Twitter.

The key to understanding Dorsey’s new statements on Bitcoin is to see how the advantages of a decentralized, trustless, secure platform that anyone can contribute to unfolded in a way very close to him.

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