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Blog 31, Oct

Cryptocurrency market cap captures finance

Cryptocurrencies are of growing interest to large financial companies, some of which are already accepting this asset as payment. For example, PayPal allows US and UK customers to buy, sell and store bitcoins and other cryptocurrencies. Visa is developing a cryptocurrency division, and Mastercard has said it will add support for cryptocurrency payments.
In addition, the cryptocurrency exchange Coinbase has announced cooperation with Apple and Google, which will allow holders of Coinbase Card debit cards to pay for goods and services with digital assets using Apple Pay and Google Pay applications.
According to the founder of the hedge fund Tudor Investment Paul Tudor Jones, bitcoin wins the race against gold. He says he now prefers bitcoin to gold, and sees the cryptocurrency as an excellent way to hedge inflation.
From the beginning of the year to mid-April, the rate of bitcoin more than doubled to $ 64.9 thousand. However, over the next five weeks it fell by more than half as regulators around the world, especially in China, tightened control over cryptocurrencies.
In mid-October, the value of bitcoin again reached a record high, exceeding $ 67 thousand, according to analysts at JPMorgan, such a rise caused inflation and the desire of investors to protect themselves from it. However, the cryptocurrency again lost some of its growth. Sharp fluctuations in prices - a characteristic feature of bitcoin since its inception. However, a number of analysts believe that the cryptocurrency may reach $ 100 thousand by the end of this year.