Bitcoin hits $57,500 and $1T market cap signals it's here to stay
One week in review:
Feb. 14–20 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1. Bitcoin hits $57,500 and $1T market cap signals it's here to stay | | | Bitcoin's price continued to smash records this week, surging by more than 20% and hitting highs of $57,505.23 at one point. But the most significant milestone came when BTC's market cap exceeded $1 trillion for the very first time. | | | This is a feat that took the likes of Amazon and Google decades to achieve, with Bitcoin cementing its status as a major global asset in just 12 years. BTC even managed to overtake Tesla and Tencent as bullish momentum shows no signs of slowing down. | | #2. Binance Coin becomes third-largest crypto following parabolic rally | | | Binance Coin is now the third-largest cryptocurrency by market cap for the first time in history. | | | BNB's price has more than doubled this week, and at one point, the coin hit highs of $342.88. It was issued by Binance, one of the world's largest crypto exchanges, with a view to giving users discounted fees. | | | Binance's chief executive officer, Changpeng Zhao, noted that BNB has also been setting new all-time highs against Bitcoin. He said: "From a humble 0.00001 BTC per BNB, we have grown 480x against BTC in the last three-and-a-half years." | | #3. Dogecoin drops 23% as Elon Musk slams DOGE rich list | | | Dogecoin sank by 23% in a matter of hours on Monday after Elon Musk drew attention to the vastly unequal distribution of DOGE tokens — and urged major holders to sell. | | | Dogecoin has one of the most unequal coin distributions in the cryptocurrency space, with 28.7% being held by just one person and the top 12 holders possessing almost 50% of the supply. | | | Disgruntled by this statistic, Tesla's CEO tweeted: "If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo." | | #4. Prediction of the week: Motley Fool adding Bitcoin to its "10x portfolio" — Has a $500,000 price target | | | The Motley Fool has announced that it will invest $5 million into BTC and predicted that Bitcoin will rise to $500,000 in the next 15 years. | | | Setting out the three core reasons behind its purchase, The Motley Fool said Bitcoin is a better store of value than gold, it's an effective hedge against inflation, and it has the potential to become a transactional asset. | | | The company added: "While Bitcoin may very well continue to be volatile in the short term, we think it has 10x potential from today's levels over the long term as part of a diversified portfolio. We plan to hold this Bitcoin investment for many years." | | #5. FUD of the week: U.S. charges three North Korean hackers over crypto attacks and WannaCry ransomware | | | The U.S. Department of Justice has announced charges against three North Korean hackers. | | | Assistant Attorney General John Demers didn't mince his words when he made the announcement, declaring: "North Korea's operatives, using keyboards rather than guns, stealing digital wallets of cryptocurrency instead of sacks of cash, are the world's leading bank robbers." | | | With a country largely sequestered from the international economy, North Korea's hacking program has been a critical source of revenue. | | #6. FUD of the week: YouTuber regrets spending 37 BTC — now worth $1.8 million — on used Hondas | | | Spare a thought for this Honda enthusiast, who has called himself an "idiot" after spending 30.5 BTC on two used cars back on Valentine's Day in 2017. | | | Chris Cut thought he was getting a "great price" of $30,500 back then, given how BTC was trading at $1,000 per coin. But fast forward to today, and his crypto stash would have been worth more than $1.7 million. | | | The YouTuber said that he wasn't bothered about paying in Bitcoin for the cars at the time — but the enormity of his lost gains have set in four years later. | | | Feel free to explore the most important news with Hodler's Digest: | | | |
0 Comments
Postingan
