Erratic Bitcoin leaves industry divided as Square invests $170m

clock • 2 min read

Bitcoin's dizzying journey continued this week, as the cryptocurrency reached new heights in excess of $55,000 before falling back. A sudden sell-off earlier in the week saw Bitcoin climb back past $50,000 this morning following Square's annoucement it had bought $170m worth of the digital coin. Square is an American financial services start-up which is owned by Jack Dorsey, CEO of Twitter. Bitcoin hit $57,000, which gave it a market capitalisation of more than $1 trillion. In addition, Ethereum, the second-largest cryptocurrency, surged past $2,000 for the first time, giving it at th...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.