Bitcoin Blasts Past $13,000, Marking Its Highest Point Since 2018
The price of Bitcoin has been surging in recent days, and on Tuesday, it hit a new high of $13,186, according to data from CoinMarketCap. This marks the first time the cryptocurrency has reached this benchmark since September 2018.
The surge in value is attributed to a combination of factors, including a growing interest in decentralized finance (DeFi) and institutional investors entering the market. Additionally, the ongoing economic uncertainty and instability in traditional markets has led some investors to seek alternative assets, such as cryptocurrencies, to diversify their portfolio.
Mastercard Announces Support for Cryptocurrency Transactions
Payment giant Mastercard has announced that it will be allowing cryptocurrency transactions to be processed on its network. This move is seen as a major step forward for the adoption of cryptocurrencies, as it will make it easier for merchants to accept cryptocurrency payments and for consumers to make purchases using their preferred digital currency.
The company has partnered with a number of crypto exchanges, including Coinbase and Circle, to facilitate the process. This new service will allow users to convert their cryptocurrencies into traditional currency, such as US dollars, before making a purchase.
Bithumb Exchange Hacked, User Funds Stolen
However, not all news is positive in the world of cryptocurrency. Korean exchange Bithumb has announced that it has been hacked, resulting in the loss of a substantial amount of user funds. The company is currently working with authorities to investigate the incident and to recover the stolen funds.
According to reports, the hack occurred on Tuesday evening and saw attackers gain access to the exchange’s database, allowing them to steal large quantities of cryptocurrencies, including Bitcoin, Ethereum, and XRP.
China’s State-Owned Gold Mining Company Enters Blockchain Space
Chinese state-owned gold mining company, China Mining, has announced that it is entering the blockchain space with the creation of a new joint venture company. The new company, which will be called "Cloud Computing Technology," will focus on the development of cloud-based blockchain solutions for various industries, including finance, supply chain management, and healthcare.
The move is seen as a major victory for the Chinese government’s efforts to promote the development of the country’s technology sector and to increase its global competitiveness in the field of blockchain technology.
In conclusion, the world of cryptocurrency is constantly evolving, with new developments and innovations emerging every week. While some news is positive, such as Mastercard’s support for cryptocurrency transactions, other news, such as the hack of Bithumb exchange, serves as a reminder of the importance of security and vigilance in the digital world. As the space continues to grow and evolve, it will be interesting to see how governments, companies, and individuals adapt to the changing landscape of cryptocurrency.
