SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Instagram Outage Disrupts Thousands of U.S. Users 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Oracle Plans $45–$50 Billion Funding Push in 2026 to Expand Cloud and AI Infrastructure 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Nvidia Confirms Major OpenAI Investment Amid AI Funding Race 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
SoftBank and Intel Partner to Develop Next-Generation Memory Chips for AI Data Centers 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Since the inception of Bitcoin, hardcore supporters of the cryptocurrency have said it will one day replace fiat money. As it stands, however, Bitcoin is still too young to be able to do so.
There’s also the fact that it’s plagued by a host of problems, including volatility, scalability, energy consumption, and more. Because of this, Swiss international investment bank UBS deemed Bitcoin incapable of replacing fiat currencies, CNBC reported.
"Bitcoin is still too unstable and limited to become a viable means of payment or a mainstream asset class," UBS strategist Joni Teves wrote in a note to clients Thursday. "Owing to its lack of price stability, Bitcoin falls short of criteria that need to be satisfied to be considered money."
Teves added that in order for Bitcoin to be considered a viable replacement, it still needs to increase its value by $213,000. But bullish investor Tim Draper believes that Bitcoin can even soar higher from that figure as he believes the cryptocurrency can reach a value of $250,000 by 2022.
However, Bitcoin is still struggling to recover since its December 2017 position where it was valued at around $19,000. Since then, the leading cryptocurrency has fallen and is currently changing hands at $7,416.
Price swings have been attributed to a lot of factors and one of them is speculated to be caused by market manipulation. While this hasn’t been confirmed yet, there is observable data that suggests this might be the case.
For instance, Bitmain – a crypto mining hardware manufacturer – controls over 50 percent of the Bitcoin network through the acquisition of AntPool and Bt.com, two of the largest crypto mining companies in the world. Moreover, the company also holds influence over the operations of ViaBTC, considered the third largest crypto mining firm.
All three of these companies give Bitmain a 47.2 percent control over the Bitcoin network. This fact worries a lot of investors since with a bit of effort, Bitmain can potentially manipulate the prices of Bitcoin if its control goes over 50 percent. However, the manufacturer has already said in the past that it is not interested in doing so, although others aren't convinced, including Ripple CEO Brad Garlinghouse.
