Bitcoin Breaks Through $20 Mark, Sets New Record
Bitcoin has finally smashed the long-awaited $20,000 mark for the first time, setting a new all-time record of $23,770.85. Bitcoin first set a new record of $21,000 on Wednesday, after initially setting a new all-time record of $20,890.11 the same day.
Bitcoin pumped up by 14%. One of the major contributory factor to bitcoin’s recent gain is the massive investment by large financial institutions like MicroStrategy, MassMutual, Ruffer Investment Management and others in bitcoin as an alternative to gold and devaluation foreign currencies.
Cryptocurrency Exchange Kraken to Implement Bitcoin Lightning Network In 2021
Cryptocurrency exchange Kraken has announced plans to beef up its workforce with professionals armed with UX design and open-source Lightning protocol development skills in a bid to implement Bitcoin Lightning Network on the company’s platform.
According to a spokesman of Kraken, the plan will be implemented in 2021 so that traders and investors withdrawing and depositing bitcoin will have the best experience.
Lightning Network is a system which helps to speed up transactions verification process as well as save cost.
American Express Invests Undisclosed Amount in FalconX
American Express Ventures has invested an undisclosed amount in FalconX cryptocurrency trading platform.
Harshul Sanghi, Global Head of American Express Ventures, said in a statement that this kind of investments will help American Express understand digital assets systems.
“Amex Ventures invests in startups as a way to better understand emerging areas of the payments ecosystem,” he said.
One River Digital Plans to Invest $1 billion in Crypto in 2021
One River Digital Asset Management has pledged to invest $1 billion in bitcoin and ethereum in 2021 after initially buying more than $600 million in cryptocurrencies, with support from Alan Howard, British billionaire hedge fund manager and the co-founder of Brevan Howard Asset Management.
Eric Peters, chief executive officer of One River Asset Management, said in an interview that “There is going to be a generational allocation to this new asset class,” and that “The flows have only just begun.”