| UPDATED: 10:49, Sat, Feb 13, 2021
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Bitcoin history is directly tied in with the global financial system, with its value being derived from huge, arguably reckless, changes to the financial status quo. The initial creation of Bitcoin and indeed, many other crypto currencies, was in a rebellious response to the 2008 financial crisis.
By Jack Denton Order Reprints Text size
Bourbon, by U.S. law, must be aged in new oak barrels. The maturation is also how whiskey increases in value. Agence France-Presse/Getty Images
The fund managers at Wave Financial Group considered different options when they were looking for an investment they could turn into a digital asset. Fine art, wine, and racehorses all lost out to America’s humble native spirit: Kentucky whiskey $2.5 million worth of it.
The group’s Kentucky Whiskey 2020 Digital Fund purchased 2,500 barrels of new whiskey in 2020, betting that the barrels will increase in value by three to five times in the course of the five years they spend stored in a warehouse in Kentucky. The group initially had a higher target of 25,000 barrels.
Updated Dec 27, 2020 | 15:56 IST
On Binance, the largest cryptocurrency exchange by trading volume, Bitcoin was trading at USD 26,286.74, as of 20:45 GMT on Saturday. Bitcoin value surges past $26,000 to set all-time record high | Photo Credit: Getty
World s most popular cryptocurrency Bitcoin has surged to $26,000 level to set a new high, as per trading data. The cryptocurrency which first made its debut in 2011, reached the historic $20,000 mark in 2017.
According to trading data on Binance which is the largest cryptocurrency exchange by volume, Bitcoin was trading at USD 26,286.74, as of 20:45 GMT on Saturday.
According to CoinMarketCap, an aggregator that compiles data from more than 20 brokers, Bitcoin was trading at $26,270.96 as of 20:47 GMT, a rise of 7.36% over the preceding 24 hours, according to ANI.