Bitcoin ($BTC) Surges Above $24K for the First Time in 8 Weeks – CryptoGlobe

On Monday (August 8), Bitcoin is trading above the $24,000 level for the first time June 13.

According to data by TradingView, on Binance, the $BTC price broke above the $24,000 level at 8:32 a.m. UTC on August 8, and currently (i.e. as of 9:34 a.m. UTC on August 8) $BTC is trading around $24,157, up 5.02% in the past 24-hour period.

Earlier today, Matt Corallo, an open source engineer atSpiral, which is an independent, bitcoin-focused entity within the Block ecosystem of companies, criticized those Bitcoin maximalists who are more focused on attacking other projects than with explaining why Bitcoin is great and unique.

Corallo joined the Spiral team at Block in October 2019. Prior to that, he was working as an engineer for nearly three years at Chaincode Labs, which is a Bitcoin research and development center based in Midtown Manhattan, New York. Corallo has been writing patches for the BitcoinJ Open Source Library since June 2012.

Corallo, who is the 10th known contributor to Bitcoin Core, took to Twitter to criticize the small segment of Bitcoin maximalists that is usually labeled toxic by the crypto community:

This upset a few Bitcoin maximalists, such as Bitcoin advocate Samson Mow:

One thing that might have helped to drive Bitcoins latest price rally is the recent partnership announcement between BlackRock and Coinbase:

On August 4, Coinbases Brett Tejpaul (who is Head of Coinbase Institutional) and Greg Tusar (who is Head of Institutional Product) published ablog post, in which they stated that Coinbase and BlackRock were going to create new access points for institutional crypto adoption by connecting Coinbase Prime and Aladdin.

The blog post went on to say that Coinbase is partnering with BlackRock, the worlds largest asset manager, to provide institutional clients of Aladdin, BlackRocks end-to-end investment management platform, with direct access to crypto, starting with bitcoin, through connectivity with Coinbase Prime. Apparently, Coinbase Prime will provide crypto trading, custody, prime brokerage, and reporting capabilities to Aladdins Institutional client base who are also clients of Coinbase.

Joseph Chalom, Global Head of Strategic Ecosystem Partnerships at BlackRock, had this to say:

Our institutional clients are increasingly interested in gaining exposure to digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets. This connectivity with Aladdin will allow clients to manage their bitcoin exposures directly in their existing portfolio management and trading workflows for a whole portfolio view of risk across asset classes.

Featured Image viaPixabay

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Bitcoin ($BTC) Surges Above $24K for the First Time in 8 Weeks - CryptoGlobe