U.S Skips Bitcoins Worth Millions Connected to Silk Road

A London-based blockchain analytics company, Coinfirm, claimed that it has discovered available balances worth millions of dollars in cryptocurrencies still sitting in forked addresses originating from the wallet the United States Department of Justice announced it has seized stolen bitcoin valued at more than one billion dollars from.

According to the report by Coinfirm, the criminal simply called ‘Individual X’ that initially hacked Silk Road, the black-market exchange where the stolen bitcoins were high jacked might still have access to the remaining assets.  

Etherum Sets New 2020 Record by Reaching $600 High Point

Etherum has gained a new 2020 high at $600. This feat was attained just three days after it crossed the $500 mark on November 20. Ethereum has continued to experience an upward trend for the last three months.

According to metrics on  Coin Desk, ethereum market cap has also increased to $69.04 billion.

JPMorgan Analysts Reveal Rising Purchase of Bitcoin by Institutions

JPMorgan analysts Nikolaos Panigirtzoglou, Mika Inkenen and Ekansh Agarwal reported that institutions are growing more interest in bitcoin as a long-term investment.

The analysts of the investment banking company claimed that the growing size of Grayscale Bitcoin Trust, a mostly institution-based cryptocurrency investment company in this Quarter 4 is a proof that investors are fast adopting bitcoin, compared to investment rates in Quarter 3 which was dominated by commodity trading advisors.  

PayPal to Be at The Forefront of the Ongoing Digital Transformation

CEO PayPal Dan Schulman has expressed great optimism that there will be wider adoption of cryptocurrencies by businesses and individuals for daily transactions, stating that the use of cash has declined precipitously in the middle of the pandemic.

While speaking to CNBC, Schulman noted that there is an imminent digital transformation from tradition to digital forms of payments and currency as 40 to 70% of consumers no longer handle cash. He believes that PayPal will position at the frontline of the digital transformation.

Bitcoin Breaks 18k Record, Surges Toward 2017 All-Time High

Bitcoin has crossed the $18k mark, breaking through $19k to set a new 2020 all-time record as it stumps towards the December 17, 2017 $19,783 all-time high.