Home Coins Bitcoin (BTC) Bitcoin hits the front page of The Wall Street Journal

Bitcoin hits the front page of The Wall Street Journal

- Advertisement -

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.

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.”



First published here

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
467FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,558FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.22
GBP
1.37
CHF
1.13
NOK
0.12
JPY
0.01
CAD
0.79
AUD
0.77

Most Popular

bitcoin
Bitcoin (BTC) $ 33,250.00
ethereum
Ethereum (ETH) $ 1,431.25
ripple
XRP (XRP) $ 0.277688
tether
Tether (USDT) $ 0.998092
bitcoin-cash
Bitcoin Cash (BCH) $ 452.85
bitcoin-cash-sv
Bitcoin SV (BSV) $ 175.80
litecoin
Litecoin (LTC) $ 145.44
eos
EOS (EOS) $ 2.73
binancecoin
Binance Coin (BNB) $ 42.43
okb
OKB (OKB) $ 5.92
tezos
Tezos (XTZ) $ 3.12
leo-token
LEO Token (LEO) $ 1.36
cardano
Cardano (ADA) $ 0.357163
monero
Monero (XMR) $ 140.13
stellar
Stellar (XLM) $ 0.274963
chainlink
Chainlink (LINK) $ 25.19
huobi-token
Huobi Token (HT) $ 5.90
tron
TRON (TRX) $ 0.029994
usd-coin
USD Coin (USDC) $ 0.999786
dash
Dash (DASH) $ 108.34
neo
NEO (NEO) $ 24.96
iota
IOTA (MIOTA) $ 0.460877
nem
NEM (XEM) $ 0.217973
zcash
Zcash (ZEC) $ 90.54
maker
Maker (MKR) $ 1,493.92
paxos-standard
Paxos Standard (PAX) $ 0.998879
ethereum-classic
Ethereum Classic (ETC) $ 7.85
vechain
VeChain (VET) $ 0.031091
true-usd
TrueUSD (TUSD) $ 0.998812
ftx-token
FTX Token (FTT) $ 10.59
kucoin-shares
KuCoin Token (KCS) $ 1.21
waves
Waves (WAVES) $ 7.07