Bitcoin hits the front page of The Wall Street Journal

Spread the love

Crypto is against capturing the attention of the mainstream media, with the front page of today’s Wall Street Journal discussing Bitcoin’s 80% rally since reclaiming five-figure prices.

After rallying 80% in two months, Bitcoin is recapturing media interest from the top end of town, with The Wall Street Journal discussing the cryptocurrency’s adoption among institutional investors on the front page of its Nov. 23 issue.

The report notes that Bitcoin has recently found support from “Wall Street billionaires” Paul Tudor Jones and Stanley Druckenmiller, alongside other public figures including a sports radio host.

WSJ’s coverage comes following a lull in Bitcoin’s presence in mainstream outlets, despite the cryptocurrency surging to test rarely seen prices while setting new records for market capitalization.

In addition to significant investments from hedge fund managers and Grayscale Investments, WSJ emphasizes increasing demand from retail investors who can now access crypto assets through familiar financial service companies.

The report notes that Bitcoin volumes on Square’s Cash App were $1.6 billion during the third quarter of 2020, compared to $555 million for the entirety of 2019. Trade activity on U.S.-based exchange ItBit also surged after it was revealed that PayPal’s Bitcoin trading services would be executed through the platform.

RECOMMENDED READ:  Someone Transferred a Billion Dollars in Bitcoin for Less Than $5

On the same day, PayPal CEO Dan Shulman predicted during an appearance on CNBC that increasing everyday adoption of Bitcoin will see crypto assets “move from being less of just an asset class and more into a currency,” adding:

“As paper money slowly dissipates and disappears from how people are using transactions, central banks especially on the retail side will need to replace paper money with forms of digital fiat currency.

 1,160 Interactions,  4 today

READ ALSO:
USDT, USDC, and BUSD account for 93% of the stablecoin market share.

The three biggest stablecoins have a total market value of $60 billion. According to Glassnode, an on-chain analytics provider, the Read more

TIME has come for Bitcoin, as a publication has agreed to keep BTC on its balance sheet.

Grayscale Investments had over $47.1 billion in funds under administration at the time of writing, with the AUM of its Read more

Ripple executives file requests to cancel the XRP case, alleging a ‘failure to allege recklessness.’

Judge Sarah Netburn ruled a few days earlier that Ripple executives Brad Garlinghouse and Chris Larsen's personal financial statements are Read more

Why Bitcoin bulls remain upbeat despite primary BTC market metric falls to a new low.

Bitcoin's long-to-short ratio has fallen to a five-month low, but bears aren't biting, indicating that bulls remain in charge of Read more

How to Trade Bitcoin Using the Money Flow Index

The Money Flow Index, or MFI, is a critical (but lesser-known) oscillator that can be used to perform technical analysis Read more

Topps baseball card company and MLB working on official NFTs.

Topps Series 1 Baseball nonfungible coin collectibles will be released by the national card manufacturer in collaboration with Major League Read more

“Crazy Cash”: Bitcoin turns yellow after a Simpsons episode depicts the BTC price surge to infinity.

The Simpsons, one of the most famous animated sitcoms in television history, has made a bullish bet for Bitcoin's worth. Read more

Cosmos, Decred, Monero Price Movement Analysis for 12th April, 2021

Decred could reach $200 if its press-time support holds. Monero broke out in the opposite direction of an ascending channel, Read more

Tron, Tezos, Synthetix Price Movement Analysis for 12th April, 2021

Tron was supposed to fall from its ascending channel, but only after it reached $0.139. Tezos could break down from Read more

Cardano Price Movement Analysis for 12th April, 2021

Since the beginning of the year, the price of Cardano has increased by 678 percent. The digital asset started the Read more

Leave a Reply

Contact Us