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Today hope all of you are having a good one I am pretty thrilled right now is today records price is up more than ten percent. which is obviously pretty darn thrilling. we've been waiting for a price break through like this for quite a while and in today's article I'll be discussing. what exactly is pushing it upward its owner might all of your trouble like on this article. I don't want to brag but the last couple of article are released pretty much predicted this movement to a certain degree not entirely. so I don't wanna be too presumptuous you know but they were pretty much on point. so anyway let me go ahead and discuss the factors pushing it upward and like. I've said in the past a lot of these factors are related to
institutional support. which is something that I have been touting as the next major catalyst of the bitcoin for several of my past article and it looks like it's finally paying off. so the poor corn prices jumped over the seven thousand dollar mark for the first time in over a month following an incredible week for the bitcoin developments. The price has risen almost ten percent in just one hour following a raft of positive news for pick one and crypto currencies elsewhere other points after report like queen in Brooklyn cash have also added between five and ten percent over the last twenty four hours. According to the coinmarket cap data as a result of the near six hundred dollar price jump. which is now closer to nine hundred dollars and beyond record edit some nine billion dollars to its marketcap in just a matter of minutes today saw the appointment of David Solomon as the new chief executive of US investment bank Goldman. Sachs who's currently the firm's current chief operating officer last month Solomon said Goldman is looking into adding further point and cryptocurrency services. which is obviously great news and it's very very important and very groundbreaking he will take over for Kurt Coleman CEO Lloyd Blankfein in October.
Many Brooklyn faithful are hoping that as the mainstream financial services industry bets on the coin the personal rise back to levels last seen in December of last year and possibly higher. which is something that I absolutely agree with so here are some of the other things have been pushing up the price of the bitcoin and other crypto currencies in recent days blackrock's interested in Brooklyn and crypto. The world's biggest asset manager blackrock is set up a working group to investigate ways it can take advantage of the fast growing the bitcoin and crypto currency market and Chris you portfolio manager at lax. where capital is loaded as saying quote Black Rock exploring crypto assets comes as no surprise it is definitely a positive development of the crypto market. As the greatest asset intriguer in the earth it's pleasing crypto property could be a catalyst for over rate movements and stimulate other asset managers even with more Tory strategies to seriously explore investing in the crypto space where you think the chairman and CEO blackrock as previously rallied against big point calling it an index of money laundering. London's financial news first reported the story and think later confirmed the report in an interview with Reuters shrink told Bloomberg quote. we're looking at it and as I've said in the past we're very excited about watching technology and let me go and prepare all of you for some word salad that is where we're looking at it even in the Aladdin universe with what we are trying to do there. so we're looking up watching technologies. we are studying it and we're looking at how they perform and we're looking at the type of data as we understand it as we think about other products right now and worldwide. I have not heard from one client that needs to be and it's right now so once again like I said some words sell with kind of a strange comment from
think but anyway it appears as though blackrock is getting on board. so next the FSB has backed the make international fiscal Cerberus the fiscal fixedness entrain yestermorn her smart that found the quoin and crypto currencies do not generally catarrh a material risk to the club.
All financial system according to report published by the watchdog crypto currencies quote do not pose a material risk to the global financial stability at this time and quote meanwhile the FSP. which has members from the G. twenty major countries and economies the European Commission said it planned to monitor cryptocurrency assets at banks and the world's largest financial systems. so finally Stephen Cohen has started to invest in a crypto hedge fund billionaire Stephen Cohen the founder of point seventy two asset management is reportedly getting on the fifth point. Bandwagon with investment in crypto hedge fund Thomas partners company would be investing in the crypto hedge fund through his private investment. vehicle co in private ventures it was reported by fortune last week autonomous partners launched in December and is led by early cryptocurrency investor every honest Simpson the fund boasts funding in the low eight digits from investors. such as point is Cyrus critters and cracked ventures and Simpson told fortune quote. I've only brought on partners that we very much value added beyond their capital so in other words folks it looks like institutional investors. As I have said in the past are really pushing for corn and other group their currencies up for it and I think that will continue for the near future. I think they were beyond the Polish hurdle now and that is really what we need to get over before we could see some more really substantial growth exciting stuff guys hope all of you have a good one maybe pick up a little bit of pick one process my opinion.