Amid chaotic swings in the dollar, and flash-crashes in precious metals, it seems anxious global investors have pushed into cryptocurrencies as a safe-haven overnight with the top 5 virtual currencies all soaring.
Bitcoin has reached a new record high at $4740…
Pushing its total market cap near that of Morgan Stanley.
Bitcoin is now bigger than 425 of the S&P’s 500 members.
On a side note, GBTC (the Bitcoin investment trust) is now trading at $927 (implying a Bitcoin price of $9270!) and trading at a $120% premium to NAV…
Buyer beware!
