Bitcoin price hits new all-time high as crypto market matures
One week in review:
Nov. 28–Dec. 5 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1. Bitcoin price hits new all-time high as crypto market matures | | | It's happened! This week, Bitcoin officially reached an all-time high above $19,892 for the first time in almost three years after enjoying a rebound over the Thanksgiving weekend. | | | Unfortunately, Tuesday's new record didn't bring the fireworks many hoped for. All-time highs were only reached on a couple of exchanges. Soon afterwards, BTC suffered a violent rejection near $20,000 — falling to $19,000 in under 10 minutes. | | #2. Ripple CTO says community could force the company to burn 48 billion XRP | | | Ripple chief technology officer David Schwartz has admitted that the company could be forced by validators to burn its 48 billion XRP — whether it wants to or not. The payments giant currently holds half of the total XRP supply and has been criticized by the community for selling off tokens in the past. | | | When a Twitter user asked whether nodes, validators and the wider community could order Ripple to burn XRP if they were in the majority, Schwartz wrote: "Yes. There would be nothing Ripple could do to stop that from happening. Public blockchains are very democratic." | | #3. Libra rebrands to Diem, hoping to shake off associations | | | Back in June 2019, Facebook unveiled the white paper for the Libra stablecoin and the Calibra wallet. But after yet another rebrand, the controversial project is now even more unrecognizable… and it seems that's the point. | | | The Libra Association has seized the day, changing its name to the Diem Association. Catchy. It seems the organization is hoping to turn a page, win round regulators, and prove that it has some distance from Facebook. | | #4. Prediction of the Week Bitcoin hitting $200,000 by December 2021 is now "conservative" — Willy Woo | | | Popular statistician Willy Woo has this week's prediction for us — and he says Bitcoin hitting $300,000 in just one year's time "is not out of the question." | | | In a flurry of tweets on Dec. 1, Woo said he has "never been so bullish" about BTC's prospects for the coming year. He wrote: "My Top Model suggesting $200K per BTC by end of 2021 looks conservative, $300K not out of the question. The current market on average paid $7456 for their coins. You all are geniuses." | | #5. FUD of the Week OCC leader Brian Brooks: "Nobody's going to ban Bitcoin" | | | U.S. regulators are not looking to "kill" Bitcoin, according to the acting head of the Office of the Comptroller of the Currency. Instead, Brian Brooks said it is "important that we develop the networks behind Bitcoin and other cryptos" to prevent money laundering and terrorism financing. | | | On CNBC, Brooks was asked about whether Brian Armstrong's concerns that the Trump administration was planning to rush out regulations. He said: "I think you're going to see a lot of good news for crypto by the end of the Trump term. Some of it is going to have to do with banks connecting to blockchains; some of it is going to be more clarity around the nature of these assets." | | | And he stressed: "Nobody's going to ban Bitcoin." | | #6. FUD of the Week The road not taken: Jealous brother claims twin earned $10 million in Bitcoin | | | A "dumb" twin has claimed that the lives of he and his brother took drastically different turns when they were given an inheritance of $100,000 each. Reddit user "TheDumbTwin" explained that he invested most of his inheritance in silver and stocks, while his brother plundered $50,000 in Bitcoin… when it was priced at $100. Now, the silver-owning brother has a net worth of less than $100,000, while his twin is worth in excess of $10 million. | | | He wrote: "His wealth in Bitcoin alone is more than 100 times greater than my entire net worth." | | | Despite assurances from other Reddit users, he added: "I try to be thankful for what I do have, and I try to be thankful since I know that many other people in the world have it way worse. But I don't know if I'll ever get over it." | | | Feel free to explore the most important news with Hodler's Digest: | | | |
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