It’s been a good week for the crypto markets. Bitcoin finally burst through the $11,000 ceiling, and kept going. According to some experts, the coin could be on its way to a full 2017-style bull run. Other analysts have identified five events that could move the markets this week, including the election’s effect on the dollar, Europe’s struggles with Brexit and the coronavirus, and Bitcoin’s high hash rate.
The investment experts at Stone Ridge Asset Management have been paying attention. After executives had made personal investments in cryptocurrencies, the company created a billion-dollar spinoff with a $115 million investment in Bitcoin. Square has been just as forward-thinking. The payments company has now put 1 percent of the company’s assets—about $50 million—into Bitcoins.
The growth in crypto’s popularity has led some people to speculate that crypto banks are likely to overtake fiat banks within the next three years. In Italy, the banking system is trying hard to stay ahead. Some