Buterin criticized Bukele for forcing Salvadorans to Use Bitcoin, as he considers that it goes against the ideals of freedom of cryptocurrencies. Senator Cynthia Lummis bought between USD 50,001 and USD 100,000 worth of Bitcoin after its price returned to USD 55,000.
The price of Bitcoin recently exceeded USD 55,000, a level that it had not reached for several months. In a matter of hours, the value of the cryptocurrency increased by almost 10%, bringing the total capitalization to more than USD 1 trillion.
A large cascade liquidation of short orders may have caused the value of Bitcoin to rise. Holders have settled a total of USD 47 billion, equivalent to 1,200 BTC, since October 1st.
According to CoinGecko, Bitcoin is trading at around USD 57,000 and has accumulated a 1.2% profit in the last 24 hours.
Treasury Secretary Janet Yellen and SEC Chairman Gary Gensler recently said they are not planning to ban cryptocurrency trading. Following that announcement, fears about regulatory restrictions have eased this week.
Vitalik Buterin Questions the Forced Adoption of Bitcoin in El Salvador
Ethereum co-founder Vitalik Buterin recently criticized Nayib Bukele for forcing Salvadorans to use Bitcoin. The developer judged the measure to be incautious and contrary to the ideals of freedom of the cryptocurrency community.
The approval of the law that established Bitcoin as legal tender in El Salvador occurred on September 7th. The measure by the president has received both praise and criticism from people inside and outside the country.
While Inflation Skyrockets, Institutional Investors Prefer Bitcoin to Gold
JPMorgan analysts have expressed that institutional investors have a greater appetite for BTC, which may be driving its rally. They said assurances that the United States will not ban Bitcoin, besides the recent rise of the Lightning Network, have contributed to that.
The big bank added that the trend of institutional money flowing from gold to Bitcoin has resurfaced in recent weeks. The confirmation that Bitcoin is a better store of value than the precious metal has allowed that to happen.
Cynthia Lummis Reveals that She Purchased Up to USD 100,000
Wyoming Republican US Senator Cynthia Lummis revealed that she bought between USD 50,001 and USD 100,000 worth of Bitcoin in August. That happened just after the price of the pioneering cryptocurrency again positioned itself at USD 55,000.
The Stop Trading On Congressional Knowledge (STOCK) Act, which prohibits using non-public information for profit, included the disclosure. That regulation became law during the Barak Obama administration in April 2012 and seeks to combat insider trading.
Although George Soros Says He Hates Bitcoin, He Invests in It
The Soros Fund Management company, owned by magnate George Soros, recently entered the world of cryptocurrencies. They invested in a firm that manages funds related to Bitcoin.
Soros Fund Management CIO Dawn Fitzpatrick expressed a favorable position on Bitcoin. She announced that they are also interested in putting money on other cryptocurrencies and decentralized finance (DeFi).
By Alexander Salazar