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What a Time to Be a Bitcoin

The world's biggest crypto is on a hot streak
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Kraken CEO Jesse Powell. Pictured: The Winklevoss twins buying coffee with bitcoin and two unimpressed Starbucks employees.

less than 3 min read

TOPICS: Tech Business / Tech Investing / Retail Investor Trends

The stock market is wavering. The world’s two largest economies are rattling their trade sabers. But the world’s biggest crypto isn’t feeling the burn.

Bitcoin passed $8,000 this week, its highest price this year and up about 30% from last week. Bitcoin is riding its longest winning streak since 2013.

Where bitcoin goes, so go the rest: Its good fortune has boosted the total crypto market cap by about $24 billion in the last 24 hours. It’s tough to pinpoint what’s driving the rally, but there have been a lot of good vibes:

  • This week, the crypto community is huddled in Midtown Manhattan for the annual Consensus blockchain fest.
  • Institutional players like Fidelity and E*Trade will soon offer bitcoin trading.

The organic cherry on top: Payments startup Flexa and Winklevoss-owned exchange Gemini teamed up to offer phone-based crypto payments at physical stores. Spedn—not a typo, that’s Flexa’s actual name for the app—will work with retailers like GameStop, Crate and Barrel, Nordstrom, and Whole Foods.

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Tech Brew breaks down the biggest tech news, emerging innovations, workplace tools, and cultural trends so you can understand what's new and why it matters.

By subscribing, you accept our Terms & Privacy Policy.