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The Bitcoin surge continues as the cryptocurrency surpassed the $19,000 mark Tuesday morning.
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Bitcoin is a popular payment method utilized by online gambling sites and Pay Per Head businesses especially in more restrictive markets, though digital currencies are now being embraced industrywide.
Bitcoin was trading about 4.25% higher on Tuesday morning at $19,207, according to data from industry site CoinDesk. The all time high was $19,783 hit is December 2017. From there the price dropped dramatically throughout 2018.
Bitcoin surpasses $19,000 for the first time since 2017 https://t.co/A9t5gAvplh pic.twitter.com/qquKAvLDG3
— Bloomberg (@business) November 24, 2020
With the likes of Fidelity Investments, Square and PayPal embracing Bitcoin, many experts see sustained stability in the cryptocurrency.
The beneficially marriage of Big Tech & #Bitcoin - PayPal gets a reserve asset that has been appreciating more than 100% per year vs. USD for the past decade. Bitcoin gets a mobile payment network & currency compliance protocols.https://t.co/rDva4LHtUo
— Michael Saylor (@michael_saylor) November 23, 2020
Last week, Americas Cardroom CEO Phil Nagy confirmed that Bitcoin represented some 90%–95% of all cashouts. This has forced the popular online poker room to purchase millions in bitcoin a day to meet the demands of exiting players.
“We are constantly having to go out and buy bitcoin, lots. Lots. More than we’ve even had to before.”
Holders often look to liquidate Bitcoin on sites amid dips, according to Bloomberg News.
A XRP flash crash affecting the popular Coinbase exchange did little to drag the price down outside of a brief drop towards $18000 Monday. Coinbase had been trending on Twitter as a result.
- Aaron Goldstein, Gambling911.com
