Feed: Slashdot
Feed Link: https://slashdot.org/
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Title: Bitcoin Surges to $86,455, an 8-Month High, After America's SEC
Announces Tokenized Stock Experiment

Link: https://slashdot.org/story/26/09/23/0744202/b...

August 15: $62,991 September 23: $86,456 Bitcoin shot up 37% over the last 39
days, reaching an eight-month high on Monday. "Bitcoin is back," declares
Yahoo Finance: The token held near $86,000 on Tuesday after a stunning
multisession rally... [Fundstrat head of digital assets Sean Farrell told
Yahoo Finance on Monday] "I think the crypto winter is over, although that
does not necessarily mean the path higher will be linear." For now, momentum
is on crypto's side, with bitcoin jumping more than 5% on Friday and another
6% on Monday. "We believe crypto is in the early innings of a new bull market
and we see few signs of overheating," Compass Point analyst Ed Engel wrote on
Tuesday. The move looks "like a combination of renewed ETF demand and a large
short squeeze," Nicolai Sondergaard, senior research analyst at Nansen, said
as traders betting against bitcoin are forced to buy it back, adding further
fuel to the rally. Bitcoin got bad news and then good news last week. After
the U.S. Congress failed Thursday to pass a cryptocurrency 'Clarity Act',
America's Securities and Exchange Commission instead announced a tokenized-
stock experiment. It's a five-year "innovation exemption" that "creates a
path for tokenized U.S. stocks to trade through automated market makers on
public blockchain," according to CoinDesk. Yahoo Finance notes that Bitcoin
and other altcoins surged after the announcement.

Read more of this story at Slashdot.

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