Bitcoin advanced Wednesday, breaching the $64,000 level for the first time after eclipsing its most recent record in March a day earlier as the mood in cryptocurrencies turned bullish ahead of Coinbase Global Inc.’s listing this week. The token climbed as much as 1.6 percent to as high as $64,207 in Asia trading. Cryptocurrency-exposed stocks such as Riot Blockchain Inc. and Marathon Digital Holdings Inc. advanced during US trading hours. Crypto bulls are out in force as a growing list of companies embrace Bitcoin, even as skeptics doubt the durability of the boom. In one of the most potent signs of Wall Street’s growing acceptance of cryptocurrencies, Coinbase will list on the Nasdaq on April 14 at a valuation of about $100 billion. Coinbase’s debut “will mark the first official juncture between the traditional financial avenue and the alternative crypto path,” Ipek Ozkardeskaya, a senior analyst at Swissquote, wrote in a note. “As such, a successful addition to Nasdaq should act as endorsement of cryptocurrencies by traditional investors.” Goldman Sachs Group Inc. and Morgan Stanley have announced plans to offer their clients access to crypto investments. Tesla Inc. earlier this year disclosed a $1.5 billion investment in Bitcoin and more recently started accepting it as payment for electric cars.
Related Articles
China stops funding CPEC road projects over graft issue, Pakistan ‘stunned’: Report
ISLAMABAD (TIP): China has decided to temporarily stop funding at least three major road projects in Pakistan, being built as part of the $50 billion China-Pakistan Economic Corridor, following reports of corruption, a decision that has left officials in […]
Study links fish oil supplements with heart rhythm disorder
According to a new analysis by the European Society of Cardiology, omega-3 supplements are associated with an increased likelihood of developing atrial fibrillation in people with high blood lipids. The findings were published in European […]
Saina stuns Bing Jiao to join Sindhu in Quarterfinals of Singapore Open
Olympic bronze medallist Saina Nehwal showed signs of regaining her form on her way to a sensational win over Chinese world number 9 He Bing Jiao in the Singapore Open here on Thursday, July 14. […]
Be the first to comment