Weekly News Roundup #15
Welcome to our Snowball cryptocurrency media digest. Here we will provide you with regular updates on trending news from the blockchain and crypto space.
Rundown of what happened last week:
Bitcoin Price Surges Past $11,000: Bitcoin is currently already approaching $11,300, up a notable almost 13 percent in the past 24 hours to press time. Meanwhile, major alt coins have also surged, with Ethereum seeing a multi-month high over $300: Read more.
Ripple CEO: Bitcoin and XRP Aren’t Competitors — I’m Long BTC: In the interview, Garlinghouse outlined the key difference of two major cryptocurrencies, arguing that Bitcoin is a store of value or “digital gold,” while XRP is a “bridge currency” that enables an efficient solution for fiat-to-fiat transfers. Read more.
5 Things to Know About Facebook’s Libra: After months of speculation, Facebook finally announced details about its new cryptocurrency on Tuesday morning. The digital currency, called Libra, will be available starting next year to the billions of people who use Facebook services like Messenger, WhatsApp, and Instagram. If the new currency catches on, it has the potential to change how people save, spend, and send money, and could disrupt big parts of the tech and banking industries. Read more.
MoneyGram Surges 155% as Crypto Hype Feels a Bit Like 2017: MoneyGram International Inc. soared as much as 155% in early trading after a tie-up with blockchain-technology company Ripple. The rally is reminiscent of late 2017 when a wave of small-cap stocks saw valuations multiply as they §re-branded as blockchain companies. The difference is that MoneyGram is an established company with about 2,400 staff and $1.4 billion in annual revenue, not a re-branded unprofitable iced tea-maker or a three-man I.T. firm based out of a business park in Essex, England. Read more.
Tweet of the week:
This week our favorite tweet comes from Cameron Winklevoss which reminds us that patience is key in crypto and also investing in general:
