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Recent bitcoin price action has not tempted Paul Tudor Jones to exit his BTC position.
The legendary billionaire hedge fund manager claims that he now sees the cryptocurrency as being more useful than when he recommended it earlier this year.
Jones champions bitcoin as a hedge against inflation.
Bitcoin investors rejoiced on Wednesday as the price of the most popular cryptocurrency surpassed $13,000 for the first time since 2019.
However, when denominated in weaker national currencies, BTC actually surpassed its previous all-time highs.
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On Oct 22, Bitcoin (BTC) continued its ascent by creating a massive bullish engulfing candlestick and breaking out above the $12,050 resistance area.
While short-term retracements could occur, it is likely that Bitcoin’s trend is still bullish.
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If bitcoin price action is any indication, PayPal’s decision to support BTC transactions is a pretty big deal.
Not only has the BTC price rallied beyond the $12,000 level, but it’s nearing $13,000 and showing no sign of slowing down anytime soon.
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On Oct 20, the Bitcoin (BTC) price moved above the $12,050 resistance area, regaining all of the losses stemming from the early September fall.
Despite this move, it’s not yet clear whether this is a new upward move or an upwards correction.
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PayPal has announced that its customers will soon be able to carry out crypto transactions with its 26 million merchants.
In a statement released on Oct 21, the payments giant revealed that it will enable crypto payments on its network in early 2021.
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While withdrawals remain suspended, OKEx is reportedly resuming sporadic services on the peer-to-peer (P2P) trading front.
OKEx says it decided to restart limited P2P trading services following reports of rogue actors attempting to lure users to off-escrow marketplaces.
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A UK-based fintech firm has just announced a large purchase of bitcoin using its cash reserves. Mode Global Holdings, an already bitcoin-friendly financial company, has become the first UK publicly traded firm to allocate part of its reserves to the cryptocurrency.
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On Oct 20, Bitcoin (BTC) created a bullish engulfing candlestick and proceeded to move above an important resistance area.
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The “seasteading” company Ocean Builders purchased a decommissioned cruise liner to build an off-shore crypto colony.
Chad Elwartowski, the company’s COO, completed a Reddit AMA recently, revealing details about the new community.
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