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Bitcoin traded 2.53% higher on Wednesday morning, breaking the $ 47,000 mark.
The price was around $ 47,120 per coin, while rivals Ethereum and Dogecoin were trading around $ 3,400 (+1.79%) and 24.2 cents (+1.46%) per coin, respectively, according to Coindesk.
Since last week – when Bitcoin was trading at $ 43,000 per coin, it has steadily climbed to $ 47,000 by early Wednesday.
BITCOIN IN EL SALVADOR SPARK’S CRYPTO CURRENCY DEBATE
On Tuesday’s Bitcoin news, the Miami City Commission voted on Monday for access to approximately $ 5 million worth of MiamiCoin, a Miami-specific cryptocurrency – and it continued to do so.
For every MiamiCoin that people mine (or create) with a base cryptocurrency called Stacks that has its own token, Miami receives funding that elected leaders can use to improve the quality of life for city dwellers.
Bitcoin traded 2.53% higher on Wednesday morning, breaking the $ 47,000 mark. (Istock)
MiamiCoin is the first CityCoin, a city-based token with plans to expand to other cities besides Miami, although CityCoin has no partnership with Miami. Instead, the cryptocurrency is sourced entirely from the community and controlled by the community.
In other bitcoin news, billionaire Steven A. Cohen, owner of Major League Baseball’s New York Mets, is set to invest in a new cryptocurrency trading company, the latest bet by a prominent Wall Street investor on the digital asset markets.
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The hedge fund manager agreed to an initial investment in Radkl, a quantitative trading company specializing in digital assets, according to company executives and a Cohen spokeswoman.