After rising 80% in two months, Bitcoin (BTC) is regaining media interest from the upper part of the city: The Wall Street Journal discusses the introduction of cryptocurrency to institutional investors on the first page of its November 23rd issue..
The report shows that Bitcoin recently won the support of “Wall Street Billionaires” Paul Tudor Jones and Stanley Druckermiller, as well as other public figures. including a sports radio host.
Cover of #Bitcoin from the Wall Street Journal pic.twitter.com/wD7TUuMcTp
– WebbDesignz (@DesignzWebb) 23rd November 2020
WSJ news comes after a hiatus from Bitcoin’s presence in the mainstream media, despite the fact that cryptocurrency has skyrocketed to test rarely recorded prices while setting new records for market capitalization.
In addition to significant investments from hedge fund managers and grayscale investments WSJ emphasizes the growing demand from private investors who can now access crypto assets through well-known financial services companies.
The report found that the volume of Bitcoin in Square’s Cash app was $ 1.6 billion in the third quarter of 2020, compared to $ 555 million in full-year 2019. Trading activity on the ItBit US exchange increased also to after it became known that PayPal’s Bitcoin trading services are being carried out through the platform.
On the same day, during an appearance on CNBC, PayPal CEO Dan Shulman predicted that Increased daily adoption of Bitcoin means that crypto assets are “becoming less of an asset class and more of a currency”.and added:
“As paper money slowly dissolves and the way people use transactions disappears, central banks, especially in retail, need to replace paper money with digital fiat currency forms.”