Ethereum hits $500 to Jay Clinton disclosing the rise of Bitcoin, Read Today’s Top 5 Crypto News
1) Ethereum hits $500 after two and a half years.
After Bitcoin’s drastic growth this year, Ethereum hits an all-time high after 2018. Ether has hit $500 after more than two years. As compared to Bitcoin whose year-to-date return is 155% for ether it is 284%. Another altcoin that has outperformed Bitcoin last month by 7% is Litecoin.
2) Co-founder of Morgan Creek Digital sold his car for Bitcoin.
Jason Williams, a co-founder of Morgan Creek Digital shared on Twitter that he has sold his 2007 Chevrolet Suburban for 0.4 Bitcoin and calls it an easy decision. This shows how people are getting inclined towards digital assets and payments.
3) DAiM has launched the US’s first employer-sponsored Bitcoin retirement plans.
Digital Asset Investment Management (DAiM) have come with US’s first employer-sponsored Bitcoin retirement plans which employer can offer from 2021. Adam Pokornicky, DAiM chief operating officer said
The difference is, you can take an old 401K plan and convert it to an IRA when you leave a job or employer to invest in Bitcoin, but it’s never been possible to invest in Bitcoin while working at a company without taking a penalty or quitting your job until now.
4) Logic revealed that he “bought six million in Bitcoin last month”.
After Game of Thrones actress, another celebrity becomes part of the crypto world. Recently Logic (Sir Robert Bryson Hall II — real name) in his Instagram video claimed that he had invested $6 million. If we do the calculation he might have earned a profit of about $4 million which is almost 75% of his initial investment.
5) SEC Chair Jay Clayton disclosed driving factors for the rising of Bitcoin.
Jay Clayton, SEC Chair on CNBC disclosed that it is inefficiencies in the current payment system that are the reason for Bitcoin’s rise. He said
We determined that bitcoin was not a security, it was much more a payment mechanism and stored value. Our current payment mechanisms — have inefficiencies those inefficiencies are the things that are driving the rise of bitcoin.