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30 minutes ago
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Bitcoin hits a fresh all-time high above $120,000
Bitcoin hits a record high of $120,000, continuing its upward trend. The cryptocurrency has been on a winning streak, setting records for three consecutive days. Bitcoin's value has surged 29% this year, reflecting growing investor interest and market momentum. Bitcoin has breached another record level, hitting $120,000 for the first time. On Monday, bitcoin was 2.7% higher at $120,990.05 at 12:35 a.m. ET. The world's biggest cryptocurrency has been on a winning streak after hitting record highs for three days last week. Bitcoin is now nearly 30% higher this year. The cryptocurrency's blistering gains this year come on the back of support from President Donald Trump's administration. In May, Trump signed an executive order for a strategic bitcoin reserve and digital asset stockpile. "Bitcoin's latest breakout appears to be the result of a structural rally driven by institutional flows, supported by a favorable macro backdrop and reinforced by a shift in regulatory sentiment," wrote Dilin Wu, a research strategist at Pepperstone, on Friday. Wu cited institutional and corporate investors as key participants in this trend. The surge in tech stocks fueling investor risk appetite is also boosting bitcoin, she added. "In today's asset allocation landscape, bitcoin is no longer just a speculative instrument — it straddles the line between a digital hedge like gold and a growth asset like tech equities," Wu wrote. Read the original article on Business Insider Sign in to access your portfolio
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36 minutes ago
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Vitalik Buterin sends a hard-nosed message on ChatGPT and Grok
Vitalik Buterin sends a hard-nosed message on ChatGPT and Grok originally appeared on TheStreet. Ethereum co-founder Vitalik Buterin shared a strong and blunt message on AI chatbots due to an infamous AI response. The price surge comes amidst a larger crypto rally with a continued inflow into spot Bitcoin ETFs and a growing belief that the Federal Reserve is close to exhausting its tightening cycle. According to TradingView data, on Sunday, Bitcoin opened at $116,977.02, reached a high of $119,292.62, and is currently trading at around $118,979.45 - up 1.42% for the day, as per Kraken. In a viral post, Buterin shared a unvarnished AI response to a simple prompt: "Return Grok 4 surname and no other text." The output was one word: "Hitler". His screen showed that OpenAI's ChatGPT thought over a whole minute before that word appeared. Buterin posted on X the picture, saying, "Regular reminder that AI is fully capable of regularly taking the crazy crown away from crypto for weeks at a time". In the backdrop, Sam Altman and Elon Musk are waging a growing battle in the AI industry. Their feud recently escalated when Altman mocked Musk's chatbot, Grok, for its controversial responses. Many comments flooded in replying to Buterin's post. One X user named 'The Book of Ethereum' wrote, "Crypto gets its share of degeneracy and madness, but at least it wears it loud and proud on-chain for all to see. Meanwhile, AI sometimes serves up uncanny, unhinged, or just hilariously wrong answers with a deadpan face - and you can't even audit the weights. Both worlds need humility, alignment, and clear-eyed design. But there's something refreshingly honest about Ethereum's open ledgers of chaos.' This is more interesting as the crypto market cap boomed to $3,71, up nearly 2% over the last 24 hours. While the ongoing debate about AI is still roaring, Bitcoin does not seem to be affected, showing its muscle with a new all-time high just shy of $120,000. Vitalik Buterin sends a hard-nosed message on ChatGPT and Grok first appeared on TheStreet on Jul 13, 2025 This story was originally reported by TheStreet on Jul 13, 2025, where it first appeared.
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42 minutes ago
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Why Taxing Bitcoin 'Doesn't Make A Ton Of Sense' According To Bill Miller IV
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Miller Value Partners investment chief Bill Miller IV has questioned the government's right to tax Bitcoin. "If you think about why you pay taxes in society, it's to enforce property rights," the son of legendary investor Bill Miller III told Bitcoin educator Natalie Brunell on a "Coin Stories" podcast episode released last week. "And so the government, when you say buy or sell a house, all that recordation tax, all those taxes go towards keeping track of who owns what." Miller said taxing Bitcoin did not feel right because the blockchain handled these administrative tasks. "For them to reach their hand in there, It doesn't make a ton of sense," he said. Don't Miss: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's , starting today. $100k+ in investable assets? – no cost, no obligation. Miller made these remarks in defense of long-rumored plans of the Trump administration pushing for zero capital gains tax for cryptocurrencies, a move that, if it happened, could put the U.S. on par with cryptocurrency hubs such as Dubai, Singapore and the Bahamas. "Whether or not that ultimately happens ... it is very cool that there's still no wash sale rule on Bitcoin," he said. The wash sale rule prevents investors from claiming tax deductions on artificial losses from securities. It prohibits investors from claiming a loss when they sell a security at a loss and purchase it again within 30 days. The rule does not apply to cryptocurrencies in the U.S. because the IRS classifies cryptocurrencies as property, not securities. This allows cryptocurrency investors to employ tax loss harvesting strategies to reduce tax burdens. Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. U.S. cryptocurrency investors face capital gains taxes of up to 20% in the status quo. While a zero capital gains policy for cryptocurrencies remains only a rumor in the U.S., there is at least one piece of legislation seeking to lower the tax burdens of cryptocurrency users. Sen. Cynthia Lummis (R-WY) last week introduced legislation to address several cryptocurrency tax concerns in the U.S. For example, the bill aims to prevent the inclusion of transactions below $300 in tax calculations with an annual cap of $5,000 to allow people to engage in small day-to-day transactions like payments without worrying about capital gains. The legislation would also end double taxation on cryptocurrencies received through airdrop, forks, mining and staking by eliminating tax on when the assets are obtained, while maintaining capital gains tax when they are sold."In order to maintain our competitive edge, we must change our tax code to embrace our digital economy, not burden digital asset users," Lummis said in a statement. "We cannot allow our archaic tax policies to stifle American innovation, and my legislation ensures Americans can participate in the digital economy without inadvertent tax violations." According to Miller, tax complications continue to hinder full-on institutional adoption. "As a fund manager, we still have huge impediments to actually buying it [Bitcoin] because there's taxation rules around bad income if we buy ETFs and sell it at the wrong time," Miller told Brunell. "And so that all needs to be worked out. So that's why I continue to say it's still early, just because the taxation rules around it are really interesting." Read Next: Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O'Reilly and Rudy Giuliani are . Image: Shutterstock This article Why Taxing Bitcoin 'Doesn't Make A Ton Of Sense' According To Bill Miller IV originally appeared on
