Some people are laughing through gritted teeth at Elon Musk’s tweets promoting dogecoin – the joke may ultimately be on all of crypto.
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German prosecutors have confiscated more than €50-million worth of bitcoin from a fraudster. There’s only one problem: They can’t unlock the money because he won’t give them the password.
Cryptocurrency dogecoin surged more than 50% on Thursday after billionaire entrepreneur Elon Musk tweeted his support for it, two days after he said he was to take a break from Twitter “for a while”.
Ethereum hit an all-time high on Thursday as investors bought the cryptocurrency before the launch of ethereum futures on the Chicago Mercantile Exchange next week.
Billionaire Elon Musk said on Monday bitcoin was “on the verge” of being more widely accepted among investors as he expressed his support for the cryptocurrency.
Bitcoin jumped as much as 14% on Friday to a two-week high after Tesla CEO Elon Musk tagged the cryptocurrency in his Twitter biography.
The Financial Sector Conduct Authority wants more power to prosecute perpetrators of fraud and oversee dealing in cryptocurrencies after the collapse of a bitcoin trader.
Bitcoin’s price could exceed $50 000 over the longer term as the digital asset vies with gold for investment flows, according to cryptocurrency exchange Luno and brokerage OSL.
Ether, the second biggest crypto asset after bitcoin, hit its previous all-time high of US$1Â 400 this month and is trading at 130 times its price of four years ago. Astonishingly, the rally may be far from over.
Bitcoin wavered on Friday and was heading toward its sharpest weekly drop since September, as worries over regulation and its frothy rally drove a pullback from recent record highs.