CRYPTO INSIDER: Bitcoin slips as CME futures go live

The Bottom Line/Business InsiderEconomist and New York Times columnist Paul Krugman told Business Insider’s Josh Barro that bitcoin is most definitely a bubble.

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CME Group became the second exchange group to launch a bitcoin futures market on Sunday. Bitcoin was down slightly on the news. Here’s the full scoreboard from Markets Insider:

  1. ING:Bitcoin will be a niche asset for ‘tech nerds,’ the privacy-obsessed, and criminals. “One day, beyond the hype, Bitcoin will return to being the niche product that it was in its initial years. Users will include tech nerds, people obsessed about their privacy, people afraid for (hyper)inflation in traditional currencies, and people wanting to circumvent central banks for ideological or criminal reasons,” the bank said
  2. TD Ameritrade is turning on bitcoin futures on Cboe’s exchange for some of its clients.
  3. Bitcoin’s bubble is “even more obvious than the housing bubble,” New York Times columnist Paul Krugman told Business Insider on an episode of The Bottom Line.
  4. XRP, a cryptocurrency created by Ripple, briefly overtook bitcoin cash last week in terms of market cap, but it’s back in third place this morning.
  5. Bitcoin is a “highly speculative asset,” Federal Reserve chair Janet Yellen said in a press conference on Friday – but the central bank played a key role in its rise.
  6. Bitcoin’s creator is now one of the richest 50 people in the world – we just don’t know who they are.

You can watch the prices of the 13 largest cryptocurrencies in real-time on Markets Insider’s cryptocurrency page.

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