The shorts were liquidated after Elon Musk added "Bitcoin" to his Twitter bio and prices rose by over 15%.
Few are attributing the cryptocurrency's rise to market fundamentals after the GameStop roller coaster.
Jonas Schnelli joins other Bitcoin developers who are sponsored by high-caliber Bitcoin companies.
GameStop's stock drama has had a galvanizing effect on stocks, bitcoin and even dogecoin.
"Bitcoin looks like a long-duration option on a highly unknown future," the Bridgewater Associates founder said.
Digital-market traders found amusement in the GameStop saga. They also saw an opportunity for self-reflection. Here's what Niall Ferguson, Caitlin Long, Mati Greenspan and Jonathan Mohan said.
Scott Minerd said he doesn't believe bitcoin's investor base is "big enough" or "deep enough" to keep price at current levels.
Bitcoin's price is going down for many reasons including traders who realized gains last year selling to pay their tax bills.
Today was the first time bitcoin traded below $30,000 since Jan. 21.
Bitcoin maximalists cried foul at the central banker's prognostications.
Risks surrounding tether have been known for years, but they're commanding fresh attention as the amount outstanding swells to $25B.
Bitcoin would likely extend losses further if Fed Chairman Jerome Powell drops hints of a gradual unwinding of stimulus programs later today.
Its price fell Tuesday but the amount of BTC in DeFi is at its highest in over a month.
Far from being damaging to bitcoin, bubbles help bring in new users and ultimately accelerate the project's growth.
Some institutions have paused their buying, at least for the moment.