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Money Bitcoin climbs to its highest level since the beginning of 2018

11:30  28 october  2020
11:30  28 october  2020 Source:   finanzen.net

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Bitcoin is approaching levels not seen since just after the burst of the cryptocurrency market bubble almost three years ago. If it surpasses that level , it would be highest since Bitcoin traded at ,932 in January 2018 , or just weeks after the token reached an all-time level of around ,000.

Bitcoin (₿) is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source

The strong price gains of Bitcoin continue. Today the oldest and best known digital currency rose to its highest level since January 2018.

Ein Bitcoin-Logo in einem Schaufenster einer Kneipe im Kreuzberger Graefekiez. © Jens Kalaene / ZB / dpa A Bitcoin logo in a shop window of a pub in Graefekiez, Kreuzberg.

A high of 13,864 US dollars was reached on the Bitstamp trading platform in the middle of the week. Bitcoin gained almost 30 percent in value in October alone. Other digital currencies such as ether have also benefited from the recent price increase.

The price jump was triggered by the announcement by the payment service provider PayPal about a week ago that it would allow its customers to use crypto currencies such as Bitcoin. Investors hope the move to commercialize digital currencies will give a boost. The news follows other well-received news like the establishment of a Bitcoin fund by major investment firm Fidelity this summer.

The topic of cryptocurrencies is also getting a boost from the fact that more and more central banks are thinking about their own digital currencies. However, the effect of such efforts on existing digital currencies is not clear. It is true that these are given a boost in awareness through considerations such as the European Central Bank (ECB) to create a digital euro. However, central banks are critical of existing crypto currencies such as Bitcoin or Ether.

US seizes $1 bn in bitcoin connected to Silk Road .
The US has seized more than $1 billion worth of bitcoin connected to the Silk Road criminal syndicate, the Justice Department announced Thursday. The funds were taken by law enforcement on Tuesday after being traced to a bitcoin address by an unnamed "Individual X," according to a US Department of Justice press release. "It was further determined that Individual X had hacked the funds from Silk Road," the DOJ said. The DOJ said it filed a civil complaint that the funds are subject to forefeiture, adding that it expects to prove the case to the court.

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This is interesting!