Bitcoin’s Moment
Bitcoin’s climb past the $100,000 mark is a watershed moment in the evolution of crypto-currencies, symbolising their growing acceptance as a legitimate asset class.
Another strong digital currency Ethereum also dropped by nearly 14 per cent to hit the value of $31,854.44.
SNS | New Delhi | June 8, 2021 8:24 pm
(Photo: iStock)
The price of the crypto king, Bitcoin, plunged drastically after the US officials recovered a majority of the ransom paid to hackers that targeted Colonial Pipeline.
Reports covering the developments quoted a Court as saying that the investigators could recover passwords for hackers’ bitcoin wallets. The money was recovered by the newly launched task force, which was formed to tackle the increased cases of cyberattacks.
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At 08.00 p.m. Bitcoin (BTC) was trading 12 per cent lower at $31,854.44 with capital mark of $607,590,173,624, data on CoinGecko showed. Similarly, another strong digital currency Ethereum also dropped by nearly 14 per cent to hit the value of $31,854.44.
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Earlier in April, BTC had touched the mark of $60,000 for the first time. But due to the environmental concerns revolving around digital currencies pushed the value of all digital currencies towards the southward direction. Bitcoin was also affected by this sudden wave, as a result, the cryptocurrency not almost down by 13 per cent with its maximum high.
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Bitcoin’s climb past the $100,000 mark is a watershed moment in the evolution of crypto-currencies, symbolising their growing acceptance as a legitimate asset class.
Christopher Wood, global head of equity strategy at Jefferies, plans to book profit in bitcoin once it hits the USD 1,50,000 mark, up nearly 53% from the current levels of USD 98,300 levels.
After a row erupted over an alleged "bitcoin scam" linked to the Maharashtra Assembly elections, BJP leader Vinod Tawde said that the Election Commission of India (ECI) should also take immediate action against the Maha Vikas Aghadi (MVA) leaders Supriya Sule and Nana Patole "on the basis of viral audio and chat."
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