Crypto roundup: Bitcoin pumps, Jack gets bullish, Korean politicians look to blockchain solution

In Insights

As eventful a week as any in crypto, the price of Bitcoin spiked, while Jack had some bullish words to say about his favorite cryptocurrency.

Bitcoin price jumps

The price of Bitcoin has been trending downwards for over a year now, with some positive movement cutting through the downtrend.

Then on February 8, price action picked up.

In a matter of hours the price jumped from around USD3350 to USD3680, almost a 10% increase, before falling to about USD3600.

The price has remained around this level since the price jump, with traders left wondering what caused the pump.

Twitter CEO is a Bitcoin Bull

Twitter CEO Jack Dorsey believes the internet will have a native currency, and he thinks it will be Bitcoin.

Jack says Bitcoin has been through many tests and has great principals behind it, sharing this opinion with many Bitcoin and cryptocurrency enthusiasts.

He believes Bitcoin has been thoroughly tested and so this puts it in good standing to become the currency of the internet.

Blockchain for voting

Blockchain technology has a huge array of potential use cases. Since blockchain is inherently immutable, it may be perfect for voting purposes.

South Korean politicians have noticed the potential benefits to powering their voting with blockchain.

The Liberty Korea Party has released plans to improve party functioning using blockchain for voting.

Furthermore, there has been interest from a number of political parties to use blockchain for improving vote systems to increase efficiency and reliability.

Swiss stock exchange to bring out blockchain platform

SIX Swiss Stock Exchange is the largest stock exchange in Switzerland.

Last week the chairman of SIX, Romeo Lacher, revealed plans to build a blockchain platform to increase the speed of trading.

Romeo said the new exchange would be known as SIX Digital Exchange and would work side by side with the existing SIX Stock Exchange.

In the beginning the platform is expected to speed up the time taken to trade certain stocks and bonds, with additional assets in the pipeline to be added over time. Eventually tokenized assets may make their way onto this platform.

Buy Crypto today

This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product. Trading cryptocurrency is complex and comes with a high risk of losing money, particularly if you trade on leverage. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose.

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