Bitcoin Daily: Bitcoin Back Up Above $53,000

Bitcoin has risen in price for the first time in six days, with the price going past $52,000 as bulls pushed the prices higher in Asia, CoinDesk reported.

The rally seemed to start around 6 p.m. Eastern time Sunday (April 25), and it saw bitcoin rising from its seven-week low of around $47,655, according to CoinDesk.

The numbers were some of the largest hourly gains in several days, CoinDesk reported. The cryptocurrency, renowned for its volatility, saw its prices at around $52,100 as of 2:16 Coordinated Universal Time Monday (April 26). Buyer volume was at its highest level since April 23.

As of late on Monday, traders were wondering if bitcoin might be correcting itself price-wise, according to CoinDesk.

In other news, Kansas City Chiefs player Sean Culkin plans to take the full amount of his 2021 base salary, totaling $920,000, in bitcoin, CoinDesk reported.

That makes the fifth-year tight end the first player from the National Football League (NFL) to be paid entirely in bitcoin, following the now famous declaration from offensive tackle Russell Okung, who still takes half of his $13 million in fiat despite requesting otherwise, according to CoinDesk.

Culkin will start stacking biweekly stats through Zap’s Strike, which is the same fiat-to-bitcoin salary conversion Okung uses, CoinDesk reported.

Culkin has admitted it might not be wise for everyone to take 100 percent of their salary in bitcoin, but he said his own financial experience made it the right choice for him, according to CoinDesk.

Lastly, Securrency, an institutional crypto infrastructure firm, has ended a funding round with $30 million, CoinDesk reported. The company is backed by U.S. Bank and State Street, both major supporters.

The Washington, D.C.-based firm’s strategic Series B also included Abu Dhabi Catalyst Partners and WisdomTree Investments, which participated in the company’s $17.65 million Series A from 2020, according to CoinDesk.

Cryptocurrency is viewed more warmly now than it once was, with big financial firms maybe needing some hand-holding when it comes to connecting legacy systems to digital assets in a smooth, easy way, CoinDesk reported. U.S. Bank said it wants to be “ahead of the curve” in terms of offering new products.



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