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Seeking Alpha 2021-07-25 18:36:07

Bitcoin rises nears $35K level in days following Musk, Wood, Dorsey comments

N Rotteveel/iStock Editorial via Getty Images Bitcoin (BTC-USD) touches as high as $34.8K on Sunday, days after Elon Musk disclosed that SpaceX owns bitcoin and that he wants the world's largest cryptocurrency to succeed. That's the highest bitcoin has reached since July 7, when it traded at ~$35K. Bloomberg points out that today's bitcoin price topped its 50-day moving average on Saturday for the first time since May 12. Musk expressed his views on bitcoin at Wednesday's "B Word" event, where Ark Investment's Cathie Wood and Square's Jack Dorsey also extolled the potential for bitcoin. Most other cryptos, are slipping, with ethereum (ETH-USD) trades at ~$2,162, Binance Coin at $298.82, litecoin (LTC-USD) at $125.95, and dogecoin (DOGE-USD) at 19 cents. On Friday, SkyBridge Capital founder Anthony Scaramucci (and former Trump administration press secretary) said he expects bitcoin to reach $100K by year-end.

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