The price of bitcoin rallied by five percent week-on-week after Twitter CEO Jack Dorsey, once again, spoke highly of the world’s leading digital currency and even held “the Lightning torch” on Twitter before passing it on to Lightning Labs co-founder Elizabeth Stark.
Endorsement from a billionaire tech CEO is generally well-received by bitcoin investors as events like these can bring buyers, especially first-timers, back onto the exchanges. Moreover, Dorsey said that he would love to see bitcoin payments on Twitter.
Additionally, Coinbase announced its new PayPal cash out options in the European market, which will make exchanging crypto into fiat currency easier for European crypto asset investors, and it turns out that almost half of the most successful U.S. fintech companies are involved in cryptocurrencies, according to Forbes.
The two biggest stories in the altcoin market in the past week have been the Litecoin Foundation partnering with Beam to implement WimbleMimble for LTC and Bitcoin Satoshi Vision’s child abuse blockchain scandal that involved illegal pornography ending up on the BSV blockchain.
As a result, the price of LTC rallied by over 35 percent while BSV remained effectively unchanged week-on-week, despite a strong altcoin rally driven by a boost in the prices of bitcoin and litecoin.
Twitter CEO Jack Dorsey claimed he only owns bitcoin in a tweet posted on February 5, 2018, which occurred when he was prompted by a follower to list all cryptocurrencies he holds.