"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards will honor the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
U.S. President Donald Trump's national security advisor said on Sunday that White House Asia policy adviser Matt Pottinger would become his top deputy.Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
Bitcoin is now sizing up to be what could be the biggest market bubble of all time.
According to Birinyi Associates, bitcoin now looks to be bigger than any of the 10 other market bubbles it studied including the the tech bubble, beanie babies, the Dow in 1929 and the silver bubble of the late 1970s.
Bitcoin was trading at about $16,235 Thursday morning, rising from $1,000 at the start of the year, and $11,000 at the beginning of last week.
Just last week, bitcoin was the third largest of the 10 events Birinyi studied. It was third behind an 18th-century French financing scheme around the development of the Mississippi Valley, known as the Mississippi bubble, and the one-day 31 percent surge in Qualcomm in December 1999. According to Birinyi Associates, it was a Wall Street analyst's call for a $1,000 target that set Qualcomm shares on fire.
The cryptocurrency market goes beyond bitcoin, but none has appealed to the broader, general public in quite the same way.
Wall Street has been late in catching up to the individual investors and cryptocurrency traders who expect bitcoin to keep surging. Three exchanges have rushed to launch bitcoin products. Futures started trading Sunday on the Cboe, with a separate contract expected to launch at the CME this weekend. Nasdaq also plans to offer futures next year.
Source: Birinyi Associates
While many view bitcoin as bubbly, riding a parabolic wave, others believe it can go sharply higher.
Michael Novogratz, formerly a macro hedge fund manager at Fortress Investment Group, said Tuesday on CNBC's "Fast Money" that he would sell litecoin in favor of bitcoin because of its rapid run-up. Litecoin briefly climbed 59.5 percent that day to a record high of $341.72.
Novogratz has said he expects bitcoin to hit $40,000 within a few months. Novogratz, now CEO of Galaxy Investment Partners, said his firm is launching its cryptocurrency fund this week.
In its chart of past bubbles, Birinyi didn't include tulip mania of the 17th century because it said there were no reliable metrics to judge it. But analysts at Convoy Investments said they believed bitcoin is now bigger than tulip fever.
According to Reuters, the Convoy analysts said bitcoin's prices have "gone up over 17 times this year, 64 times over the last three years and superseded that of the Dutch tulip's climb over the same time frame."
Birinyi said the end point it used for each bubble was its peak, and when available, it brought the data back 22 months to match bitcoin in January 2016.