News

Bitcoin Tests $100,000 After Fed Spurs Worst Drop Since September

(Bloomberg) -- Bitcoin fell below $100,000 as the Federal Reserve’s cautious outlook for interest-rate cuts hurt speculative investments.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalThe largest digital asset slipped as low as 4% to $96,789 on Thursday in New York — more than $10,000 shy of the record high set on Tuesday

El Salvador says it will keep buying bitcoin despite IMF warning

SAN SALVADOR (Reuters) -El Salvador said on Thursday it would keep buying bitcoin, possibly at an accelerated pace, a day after the government reached a financing agreement with the International Monetary Fund that had said it should limit its exposure to the cryptocurrency. Stacy Herbert, El Salvador's national bitcoin office director, wrote on X that bitcoin would remain legal tender in the Central American country, and that the government would keep adding to its strategic reserves.

The promise and warning of Truth Terminal, the AI bot that secured $50,000 in bitcoin from Marc Andreessen

“I think the most ironic way the world could end would be if someone makes a memecoin about a man’s stretched anus and it brings about the singularity.” That’s Andy Ayrey, the founder of decentralized AI alignment research lab Upward Spiral, who is also behind the viral AI bot Truth Terminal. You might have heard about Truth Terminal and its weird, horny, pseudo-spiritual posts on X that caught the attention of VC Marc Andreessen, who sent it $50,000 in bitcoin this summer. Or maybe you’ve heard