The world is abuzz with news of cryptocurrency, and Pakistanis are still struggling to understand how investing works in the blockchain. Cryptocurrency recently came under the spotlight when crypto-enthusiast Waqar Zaka brought the Bitcoin network to limelight. While many mocked him earlier, it seems like he was right after all, when Bollywood superstar Amitabh Bachchan’s crypto investment made rounds on news.
JPMorgan published a survey on Tuesday showing that one-third of investors deem cryptocurrency “rat poison.” JPMorgan conducted the survey on June 11 at its 24th Macro, Quantitative & Derivatives Conference. One out of three investors view crypto as “rat poison,” while 16 percent think it is a “temporary fad.”
Cryptocurrency ether broke past $3,000 on Monday to set a new record high in a dazzling rally that has outshone the bigger bitcoin, as investors bet that ether will be of even greater use in a decentralised future financial system. Ether , the token transacted on the ethereum blockchain, rose 3% on the Bitstamp exchange to $3,051.99 by lunchtime in Asia.
Tesla customers can now buy their cars with Bitcoin, company chief Elon Musk has revealed in a Tweet. Mr Musk, a well known Bitcoin enthusiast, has invested heavily in the digital currency and bought $1.5 billion worth of bitcoin last month. Bitcoin, the world’s biggest digital currency, rose more than four per cent after Musk’s tweet and was last trading at $56,429.