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Bitcoin got support from two Wall Street investment companies

Early on February 24, bitcoin was able to recover from the decline to $43,000 seen on February 22-23 and surpass the $50,000 level. The market was positively influenced by news about investment companies from Wall Street. Square, which is managed by Jack Dorsey, who is also the shareholder and CEO of social network Twitter, announced that it had bought 3,318 thousand bitcoins for $170 million. Thus, the organization’s investment in the No. 1 cryptocurrency reached $394 million, or about 5% of the value of the line item in Square’s Cash and Marketable Securities balance sheet. Jack Dorsey reportedly plans to double Square’s involvement in bitcoin. Ark Investment Management, an investment group, was another company that backed bitcoin. Its head Kathy Wood said that she is “very positive about bitcoin, and very happy to see that the market is seeing a very normal market correction of the asset,” which is how she reacted to the downward price movement of the number one cryptocurrency that was seen in the previous two days. Kathy Wood also agreed with Bespoke Investment Group, which said that the decline in the price of bitcoin was “very moderate.” Institutional investor interest in bitcoin has increased recently, especially after the Canadian regulator approved the launch of the world’s first cryptocurrency ETF. In just one week, the amount of funds that ended up invested in bitcoin ETFs exceeded $564 million. Recently it was reported that BTC.com mining pool will have a new owner.

Germany's largest bank creates crypto-depository

Germany’s largest bank creates crypto-depository

Germany’s largest bank creates its own cryptocurrency storage solution for institutional investors Germany’s leading financial institution Deutsche Bank is developing its own cryptocurrency depository. This is reported in a report of the World Economic Forum. With it, the Germany’s largest bank…

Amazon is developing its own digital currency

Amazon is developing its own digital currency

The world’s largest online retailer Amazon is working on its own digital currency technology for the Mexican market Amazon is developing digital payment technology. At least this is evidenced by the company’s open position. For example, the company is looking for…

Cryptocurrency exchange OKCoin has announced support for Lightning Network payment protocol support. The integration will take place this quarter.

OKCoin to add Lightning Network support this quarter

Cryptocurrency exchange OKCoin has announced support for Lightning Network payment protocol support. The integration will take place this quarter. The addition of this payment solution will allow U.S. stock exchange clients to transact at higher speeds and with lower commissions. OKCoin…