Bitcoin market cap adds $1 billion in 24 hours

https://www.rt.com/business/387850-bitcoin-soars-market-cap-billion/

The price of bitcoin has reached a new record against the US dollar, extending a recent rally that has doubled the market value of all virtual currencies since the beginning of 2017.

The world’s most popular cryptocurrency surged to $1,747 on Tuesday, adding over $1 billion to its market cap. So far this year, bitcoin has gained nearly 70 percent against the greenback.

The surge came on increased demand reportedly tied to the creation of new tokens to raise funding for start-ups using blockchain technology.

The blockchain is a financial system maintained by a network of computers able to track the movement of any asset without a central regulator.

Apart from being an attractive asset, bitcoin has become a payment instrument for some retailers as well as a way to transfer funds without the need of a third party.

“We have an influx of new capital in the space, and that capital goes back and forth among crypto-assets and bitcoin. Bitcoin is still the main liquidity provider in the market, and people use it to buy other crypto-assets,” said Chris Burniske, blockchain products leader at ARK Invest in New York, as quoted by Reuters.

Most of bitcoin’s surge is reportedly conditioned by an increased demand for other digital currencies which are sold via “initial coin offerings” (ICOs). The procedure helps blockchain start-ups to sell their tokens directly to the public to get capital without any regulatory oversight.

Nearly 40 start-ups have launched an ICO this year, according to the data compelled by analysts at Smith + Crown.

———-

this thing is soaring..

“Most of bitcoin’s surge is reportedly conditioned by an increased demand for other digital currencies which are sold via “initial coin offerings” (ICOs). The procedure helps blockchain start-ups to sell their tokens directly to the public to get capital without any regulatory oversight.”

got it? 🙂

“So far this year, bitcoin has gained nearly 70 percent against the greenback.”

401

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~ by seeker401 on May 12, 2017.

9 Responses to “Bitcoin market cap adds $1 billion in 24 hours”

  1. New regulations looming for bitcoin trading in China

    https://www.rt.com/business/387966-china-bitcoin-rules-trading/

  2. i love the idea of that Click-Farm… why produce rows of cucumbers and tomatoes.. when you can have rows of mobileph producing thousands of clicks.. clicketty clicketty clack.. instant money ..no moving rotting cucumbers LOL

  3. Reblogged this on World Peace Forum.

  4. http://www.illumicorporation.com/join.php

    On Thu, May 11, 2017 at 4:00 PM, Follow The Money wrote:

    > seeker401 posted: ” https://www.rt.com/business/ > 387850-bitcoin-soars-market-cap-billion/ The price of bitcoin has reached > a new record against the US dollar, extending a recent rally that has > doubled the market value of all virtual currencies since the beginning of > 20″ >

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