RATE Group | Bitcoin’s Best Use; Plus, Zuckerberg’s Libra Is Heroic
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Bitcoin’s Best Use; Plus, Zuckerberg’s Libra Is Heroic

18 Nov Bitcoin’s Best Use; Plus, Zuckerberg’s Libra Is Heroic

Posted at 02:32h in Bitcoin News by

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THE BEST USE FOR BITCOIN

The defining moment of 2019 markets so far has been the cross-asset rally that took place over the first nine months of the year. It included stocks, Treasuries, gold, and of course, bitcoin, up 275% at one point.

Then bitcoin saw a major crash over the summer, even as stocks and other risk-on assets continued their run. Why? Because the best way to consider bitcoin is as a highly speculative gamble on its future use as a store of value. 

CRYPTO MARKETS

Bitcoin prices rose sharply on Monday, climbing upwards of 4% in a matter of minutes. The digital currency started appreciating around 11:15 a.m. EST, increasing from $8,787.11 to an intra-day high of $9,123.34 less than 10 minutes later.

Bitcoin wasn’t able to hold onto its gains this week: by Friday morning, it…

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