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The crypto market grows by $13 billion as bitcoin breaks the $10,000 threshold for the first time since February
The entire cryptocurrency market is now worth a combined $267 billion as of Friday morning, according to data from CoinMarketCap.
Former hedge-fund titan Mike Novogratz says now’s the time to buy bitcoin — even though it’s down more than 30% over 2 months
"I'm long gold, I'm long bitcoin — we are seeing a monetization of debt like we have never seen in our lifetimes," Novogratz said.
The popular digital coin is losing some of its appeal as a safe-haven asset during its epic sell-off.
Bitcoin falls past $6,000, leading a cryptocurrency rout as global markets slip on coronavirus concerns
"Investors are clearly not looking at Bitcoin as a safe haven asset," said Matthew Dibb, co-founder of the institutional-grade platform Stack.
Investors are buying bitcoin because "it is increasingly regarded as a safe-haven asset in times of uncertainty," said Nigel Green of deVere group.
The coin jumped as high as $9,176.38 Tuesday morning, soaring with other cryptocurrencies as investors turn to them as a safe-haven assets.
The biggest bitcoin trust brought in a record $608 million last year – and most of it was from hedge funds
Grayscale Investment's inflows in 2019 surpassed the value of the previous six years combined, the company said in its annual investment report.
The digital currency is up 20% just two weeks into 2020, and crypto-enthusiasts expect institutional interest to drive prices higher through the year.
The Fundstrat cofounder and head of research made the comments said at conference in Singapore, according to Bloomberg.
The SIM hack involves thieves taking control of a phone number and using it to get access to email accounts, bank holdings, and crypto wallets.