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Bitcoin hits the front page of The Wall Street Journal

Bitcoin hits the front page of The Wall Street Journal

Bitcoin hits the front page of The Wall Street Journal

The price of Bitcoin, after its incredible performance and reaching $ 18,000, reached the front page of the world’s most reputable media such as the Wall Street Journal. On its front page, the newspaper covered the news of Bitcoin and its 80% jump.

According to the Cointelegraph, after 80% growth in the price of Bitcoin in two months, the king of digital currencies has entered the front page of the Wall Street Journal. On the front page of its publication yesterday, referring to the price performance of Bitcoin, the publication noted the increasing interest of financial institutions in this digital currency.

According to part of the report, Bitcoin has attracted the support of “Wall Street billionaires” such as Paul Tudor Jones and Stanley Druckenmiller and some other celebrities.

The Wall Street Journal reports that bitcoin has not been featured in the world’s leading newspapers and news agencies for a long time. However, with the jump in the price of Bitcoin, its market value record was broken.

The Wall Street Journal also notes the growing demand from small investors, citing large investments from Grayscale Investments. The publication states in part that micro-investors can now buy bitcoins through popular financial platforms (such as PayPal).

The Wall Street Journal also reported in a recent report a significant increase in Square’s CashApp‌ transactions. Bitcoin trading volume in the app in the third quarter of 2020 was about $ 1.6 billion. For a better comparison, the volume of transactions in 2019 was only 555 million dollars. Transactions on itBit also jumped after the announcement of digital currency services on PayPal.

Dan Schulman, CEO of PayPal, appeared on CNBC the same day, saying that the growing acceptance of bitcoin would move the digital currency from one asset class to one currency :

As the use of paper money in people’s transactions diminishes and disappears, it is necessary for central banks to replace paper money with digital types of common currencies, especially in the field of micro-uses.

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