Hodlers thankful as Bitcoin is gainful: Bad Crypto news of the week
Cointelegraph
Published Nov 29, 2020 12:53PM ET
Updated Nov 30, 2020 08:00PM ET
It’s been another bumper week for Bitcoin, another reason for hodlers to feel grateful. The dollar value remains over $17,000 having reached a three-year high when it topped $19,000 for only the second time. People are starting to notice. The Wall Street Journal talked about Bitcoin’s rise on its front page. Google (NASDAQ:GOOGL) searches for Bitcoin reached their highest this year, and the coin is now doing better than the halving that sent it to nearly $20,000. Even the Queen has expressed her “interest” in the blockchain.
One reason for Bitcoin’s rise is Paypal. Since offering cryptocurrency services a month ago, the payments company has taken 70% of newly minted Bitcoin. Add in Square’s Cash App, and more than 100% of new Bitcoins are going to the two payment companies. And it’s just as well that those companies are getting into the Bitcoin game because current players are struggling to handle the demand. Coinbase has suffered a number of outages as demand has risen.
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Written By: Cointelegraph
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