Posted on 04/13/21
| News Source: i24
Wall Street seems to have a growing acceptance of cryptocurrencies as a potential replacement for gold
Bitcoin rallied Tuesday to a new record high - taking it to within touching distance of a price of $63,000 - as investors gear up for this week's eagerly awaited direct listing of cryptocurrency exchange Coinbase Global.
The largest US cryptocurrency exchange’s listing on the Nasdaq on Wednesday is considered a landmark victory for cryptocurrency advocates and highlights that there is a growing Wall Street acceptance of it.
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However, it is not only on Wall Street where there is a wider and growing acknowledgement of the utility of bitcoin; and mainstream acceptance of it as an investment and means of payment are behind its five-percent rise on Tuesday.
Bitcoin has more than doubled in price this year, and it represents just over half of the overall cryptocurrency market's value of nearly $2.1 trillion. That's only slightly less than the stock market value of Apple, according to CNN Business. Read more at i24