Rebound: Bitcoin rises after volatile crypto swing
Bitcoin rebounded from its sharp selloff of the past few days as additional purchases by MicroStrategy Inc. and Square Inc. helped to ease concern investors were starting to exit the famously volatile cryptocurrency. The digital token rose as much as 7% Wednesday, finding support near the $50,000 level. It traded around $49,860 as of 12:51 p.m. in New York. Prices plummeted about 13% on Tuesday in the worst retreat in a year. Square said it had purchased $170 million in Bitcoin, raising its holdings to about 5% of the company’s cash and equivalents. MicroStrategy said it paid an average $...
Source: aljazeera.com
