a big uptick in in visitors about 30% more, according to some locals. and it s notjust so called bitcoin tourists. the legal tender move is bringing in big foreign investors, too. this clifftop land, currently a dinosaur themed restaurant, is for sale. yeah in bitcoin. the asking price is us$950,000, but the seller accept bitcoin. today, if you want to buy it, it s 26 bitcoin. so 40% of your property sellers are now happy to accept bitcoin. correct. and some of them, they re even like,
well, jonathan, there were a number of factors at play and the bottom line is this is a new asset class, so nobody knows for sure what is driving the moves in bitcoin and in some of the other cryptocurrencies but one thing that is really interesting around this sell-off in bitcoin, it has been touted as a hedge, something that people could buy as an alternative to traditional asset, as a hedge against inflation, but what we ve actually seen is that bitcoin has moved in tandem with stocks, so we saw this major sell-off in bitcoin, it fell 15% last week, including a substantial 11% decline on friday. and then as you mentioned the selling turned on saturday. another factor at play here in addition to general market concerns around what will happen when the federal reserve begins to raise interest rates is regulation, and there s a lot of question marks around what the regulatory landscape for crypto moving forward will look like. and pharmaceutical giant,
tech shares were among the worst performing, the nasdaq dropping nearly 8% on the week, 14% below its all-time high. the indicator of volatility, increased substantially over the course of the week. now investors attention turning to two things. number one, the federal reserve. and number two, earnings. and the fed is going to deliver its first policy division of the year on wednesday. also, expect a lot of focus during the press conversation on inflation, the hiking path and the financial condition and more and in terms of earnings, the tech giants coming into focus alongside a number of other companies, 106 companies in the s&p 500, due to report. so a bugsy week ahead so a busy week ahead. lots of headlines on this one. the largest cryptocurrency by market value bitcoin extended the decline on saturday and shed 50% from the record high in november. what s the driving force behind the huge decline?
of nearly 120,000 bitcoin worth millions when they were stolen. over the years, the couple allegedly moved the money around, trying to hide the origins. but unique passwords were stored online where the authorities eventually found them. today the value of that bitcoin has grown to over $4.5 billion. reporter: the doj seized $3.6 billion of it, the largest grab in department history. bitcoin, like all cryptocurrency, relies on a blockchain, a public record of transactions which allowed authorities to trace the money. the couple could face 25 years in prison. but their personal brand will continue to grow. netflix announced friday it s ordering a documentary series about the couple. the doj says it will auction off the seized billions. now, in court the prosecutors argued that these two are a flight risk. they could go to russia where lichtenstein is a citizen and reactivate about 24 unique
identifiers to their bitcoin, basically making off with millions. they also say when they tried to arrest the couple, the couple claimed to be going into grab and save their cat, but wound up locking their phone and underneath the bed, authorities say they found a bag that was marked burner phones, a $40,000 stash worth of cash. it just goes on and on. no wonder netflix is taking an interest. it s one of the wildest stories i ve heard. sorry for laughing, but a bag marked burner phone? it s the rap video that really did it for me. i don t know. quite a story. i don t think you had enough of it in the package. i wanted to see more. gosh, jake ward. why were they here? why didn t they leave already before they got caught? any way. jake ward, here s the video. it s all up in the air. thank you. thank you, jake ward. appreciate that. and on that note, my friends, that is going to do it