Bitcoin "ascendant" because the GameStop saga unfolds, says Bitfinex CTO

Bitcoin "ascendant" as the GameStop saga unfolds, says Bitfinex CTO

The sudden surge in stocks like GameStop (NYSE 🙂 have a positive light on (BTC), since according to Paolo Ardoino, CTO of Bitfinex, more and more private investors are trying to "rant" against the financial status quo.

Bitcoin's price peaked north of $ 38,500 on Friday, just like US stocks completed their worst trading week since October. The divergence between BTC and stocks was partly due to a massive short squeeze of institutional investors by a Reddit group called r / WallStreetBets. The Reddit buying frenzy was centered on GameStop, the video games and consumer electronics retailer.

Read on on Coin Telegraph

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