Bitcoin fell below $90 000 for the first time in more than a month, becoming the latest victim of a widening rout in crypto.
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The move by Altvest, which emulates US company MicroStrategy, will “fully comply with relevant financial regulations”.
After outperforming most asset classes in 2024, bitcoin now finds itself under pressure amid global instability.
European Central Bank president Christine Lagarde said it’s improbable that any EU country will choose to add bitcoin to its monetary reserves.
“Why don’t we hold strategic beef reserves, or mutton reserves, or apple reserves? Why bitcoin?” the Reserve Bank governor said.
Bitcoin topped R2-million for the first time on Monday, just 11 months after it breached the R1-million mark.
US President-elect Donald Trump is planning to release an executive order elevating crypto as a policy priority.
After 15 years of cryptocurrency boom-and-bust cycles, a carnival mood is back and hushing the naysayers.
Bitcoin has catapulted above $100 000 for the first time, a milestone hailed as a coming-of-age for cryptocurrencies.
There is growing uncertainty about whether the ethereum blockchain will continue to underpin commerce in crypto.