In the meantime, large amounts of Bitcoin are on the move.
A whale has recently transferred a billion dollars' worth of Bitcoin.
Despite that volatility, Anthony Pompliano, the co-founder of Morgan Creek Digital, thinks that Bitcoin has broken away from its correlation with the stock market and is now a safe haven for investors.
He sees Bitcoin as a kind of digital gold: a good way to store value but not something that will function as a currency in the next five years.
Altcoins are doing less well; Ethereum, for example, has been looking relatively weak despite Bitcoin's growing strength.
Some companies have been doing well out of that strength.
Business intelligence firm MicroStrategy has made more than $100 million in profit from its Bitcoin investments.
The US Department of Justice is now investigating the company's acquisition of Plaid, a fintech company.
In Siberia, a new Bitcoin mine will create 100 jobs.
At least the art world is moving ahead. From art inspired by the blockchain to crypto art and digital marketplaces, artists and auction houses have found new opportunities in blockchain technology.
MicroStrategy's bottom line gets beefier on Bitcoin moves: Bad crypto news of the week
Udgivet den Oct 31, 2020
by Cointele | Udgivet den Coinage
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