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The price of Bitcoin jumped nearly 10% on Wednesday (October 6) to nearly $ 55,000 per coin after reports surfaced of billionaire George Soros’ investment firm Soros Fund Management buying some of the crypto – the world’s most valuable currencies, according to a CNN report.
“I’m not sure bitcoin is seen here just as a hedge against inflation,” Dawn Fitzpatrick, CEO and CIO of Soros Fund Management, told CNN in an interview with the Bloomberg Invest Global Summit on Tuesday (5 October). “He crossed the chasm to generalize.”
The value of all bitcoin in circulation is now back above $ 1,000 billion – more than Facebook’s market value – and all cryptocurrencies total $ 2.3 trillion in circulation, which is the same as the Apple’s market value.
El Salvador became the first country to adopt bitcoin as legal tender, but billionaire Warren Buffett continues to criticize digital currency. Soros’ decision to enter the fray paid immediate dividends, but it remains to be seen whether the bump will be lasting.
“Investor interest in cryptocurrency and our clients’ demand for fund services have grown significantly over the past few years,†said Gunjan Kedia, vice president of wealth management and investment services at the US Bank in a recent press release. “Our fund and institutional custody clients have ramped up their plans to offer cryptocurrency.”
Related: The crypto-trading rodent that beats the market
However, cryptocurrency trading is no longer just the domain of humans.
Mr. Goxx, a hamster for whom human friends have built a high-tech ‘Goxx box’ equipped with special wheels, sensors and tunnels that allow the rodent to buy and sell cryptocurrencies and other stocks , jumped aboard the crypto trading group in June.
BBC.com recently reported that Mr. Goxx “is making money, with a career performance of around 20%, beating many professional traders and funds.”
“The first month has been difficult,” Anonymous supporters of the crypto-trading hamster told the BBC. “Sir. Goxx started on June 12 with [the equivalent of $380], by placing an order for Stellar (XLM). One month and 95 orders later, Goxx Capital is down 7.3%. But at the end of September, the intrepid trader’s career performance was up 19.41%.
Commenting on its performance, BBC.com added: “This not only beats the performance of major stock markets such as the FTSE 100 or the Dow Jones, but also the performance of Warren Buffett’s company investment, Berkshire Hathaway. , according to crypto news calculations. Protos site.
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NEW PYMNTS DATA: DIGITAL BANKING STUDY – THE BATTLE OF BREWING FOR WHERE WE WILL BANK
On: Forty-seven percent of U.S. consumers avoid digital-only banks due to data security concerns, despite considerable interest in these services. In Digital Banking: The Brewing Battle For Where We Will Bank, PYMNTS surveyed over 2,200 consumers to reveal how digital-only banks can boost privacy and security while providing convenient services to meet this unmet demand.
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