Overstock founder and CEO Patrick Byrne, a longstanding bitcoin supporter, recently appeared on FOX Business’ “Mornings with Maria” to explain why he’s bullish on bitcoin. During the interview, Patrick Byrne notably pointed out that it isn’t about how high bitcoin will go, but about how low fiat currency can go, and that “it’s about time the world switches to real money.
Square’s cash app, which is used for payment among friends, is testing the ability to buy and sell bitcoin, a benefit that could make bitcoin easy to trade for a huge swath of the population, particularly younger consumers.
Square’s cash app is one of the fastest and easiest ways to pay people, as the service is free and the transaction is completed almost immediate.
Latin American micro-lending startup Ripio Credit Network concluded its initial coin offering (ICO) presale, raising $31 million from accredited investors. Following the public Ripio ICO, the startup hopes to have raised a total of about $40 million.
Ripio (formerly BitPagos) has been operating within the crypto space since 2013 and established a blockchain-based lending service to help unbanked Latin American residents obtain loans.
Earlier this year, Abigail Johnson, the CEO of Fidelity, a major financial services company and investment firm with over $2.3 trillion worth of assets under management, revealed that Fidelity has been studying the structure and the use cases of bitcoin as a store of value, a digital currency, and a safe haven asset.
Fidelity’s Bitcoin Mining Operation is Profitable
As a part of its larger initiative, Fidelity has been mining Bitcoin and Ethereum to grasp a better understanding of the decentralized structure of bitcoin, and testing bitcoin payments and two-layer solutions.
Biotech company Bioptix Inc. (NASDAQ: BIOP) saw its stock surge following the announcement that it would rebrand as Riot Blockchain and shift its focus to cryptocurrency and blockchain-based investments.
Shares of Bioptix — a company that previously manufactured diagnostic machinery for the biotechnical industry — had traded between $4 and $4.50 for the majority of the previous month, but they soared above $9 on Wednesday immediately following the announcement that the Colorado firm would make the leap into the burgeoning cryptocurrency industry.