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Bitcoin [BTC] is a mass recognized brand for the crypto-world says MySpace CEO

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Bitcoin [BTC] is a mass recognized brand for the crypto-world says MySpace CEO
Source: Unsplash

MySpace CEO, Michael Jones, spoke about Bitcoin and it being the first cryptocurrency. In the podcast interview by Anthony Pompliano, he also explained how upcoming cryptocurrencies are being overlooked.

Michale Jones talked about his experience, saying that Bitcoin is like a famous product. He said that in the broad-based global consumer world, the best product does not always win. He added that most people around the world only know about Bitcoin and that it is a mass recognized brand for the crypto-world.

Jones said that even if there was a faster transit mechanism and better features, people would always choose Bitcoin. He went on to say that the brand for Bitcoin holds more value than it is currently being given and it might prove to have a long-lasting power. He stated:



“But for the general person, if they’re going to enter into crypto, I still think they’re probably going to enter into bitcoin and if a normal place is going to accept a payment system in crypto, they’re probably going to start with Bitcoin and it doesn’t mean that bitcoin’s the best.”

Michael Jones also spoke about how Bitcoin poses a challenge for the upcoming cryptocurrencies which plan to unseat Bitcoin. He explained how materials like Titanium which are more expensive than gold are not being used as the standard or the default standard of trade.

He explained that it is the same with Bitcoin, and other digital currencies that plan to unseat Bitcoin. According to him, the cryptocurrencies would have a hard time because it has already become a brand that resonates with the people and also provides a good store of value. He explained that people in Venezuela or China prefer to store their currency in Bitcoin rather than traditional money as they are facing substantial restrictions from their government.





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Bitcoin

Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%

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Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.



Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”





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