Bitcoin Breaches $40,000 For The First Time Ever – January 8

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $38,348

Bitcoin price is ending the week on a strong note, posting new all-time highs above $40,000 before settling in the $38,000 range.

Top-20 altcoins have finally cooled off, as Ethereum remains unchanged for the day, XRP gains 10%, while most other coins post minor losses. The biggest loser of the day was Stellar, falling 12% after a strong run.

Top Stories for January 8, 2021 πŸ”₯

πŸ‘‰ Bitcoin Breaches $40,000 For The First Time Ever

Bitcoin has reached a new milestone of $40,000, about double its previous all time high from December 2017. The total cryptocurrency market cap is now sitting comfortably above the $1 trillion mark, with $810 million coming from Bitcoin itself.

It is widely believed that the current bull run has been triggered by institutional buyers, with previous Bitcoin non-believers JPMorgan predicting a $146,000 coin price.

πŸ‘‰ Bakkt To Go Public Via SPAC Merger Deal Worth $2 Billion

Intercontinental Exchange-owned cryptocurrency platform, Bakkt, is rumored to be on the verge of undergoing a merger with special purpose acquisition company VPC Impact Acquisition Holdings.

Sources familiar with the matter have estimated the resulting entity to be worth around $2 billion.

πŸ‘‰ Ripple Attempted To Settle With SEC Before Lawsuit

Ripple CEO Brad Garlinghouse has claimed on Twitter that the company attempted to settle with the SEC prior to the current legal case.

The Tweet came in response to questions arising from the community, regarding why the company had not settled before the case made it to court.

Several exchanges have delisted XRP since charges were filed by the SEC alleging that Ripple had conducted an unlawful, ongoing securities offering.