Daily Monitor
Tuesday February 23 2021
Some analysts believe that it is better for Uganda to adopt this new finance innovation of cryptocurrencies at an early stage to offset any emerging risks. PHOTO/courtesy
Summary
Cryptocurrency trading, also known as mining, is a growing global wave which is increasingly tilting the traditional global financial system.
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The recent purchase of $1.5 billion (Shs5 trillion) worth of Bitcoin by US billionaire Elon Musk set a precedent by skyrocketing Bitcoin value on the US stock market currently valued at $50,000 (Shs180m), a figure expected to drop or rise soon.
Musk, owner of Tesla, an electric car company later announced on Twitter that Tesla was moving to accept Bitcoin as a form of exchange for purchase of his cars.