Big Day For Bitcoin

Posted on 08/23/2023

Bitcoin surprised investors today with a surge of nearly 2%, from a price below US$ 26,000 to US$ 26, 653 at midday. The bounce in the markets helped with the S&P up 1.1%, the Nasdaq 1.59% and the Dow Jones 0.54%. As impressive as bitcoin returns were, and the overall markets, there were crypto standouts. Bitcoin proxy MicroStrategy rallied 5.13% on the day.

The price rise will apparently be celebrated in North Korea, where the FBI says criminals are looking to unload US$ 40 million in bitcoin. According to the release:

“The FBI is warning cryptocurrency companies of recent blockchain activity connected to the theft of hundreds of millions of dollars in cryptocurrency. Over the last 24 hours, the FBI tracked cryptocurrency stolen by the Democratic People’s Republic of Korea (DPRK) TraderTraitor-affiliated actors (also known as Lazarus Group and APT38). The FBI believes the DPRK may attempt to cash out the bitcoin worth more than $40 million dollars.” The FBI is looking for 1,580 bitcoin from “several cryptocurrency heists.”

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