The price of Bitcoin hit a 13 month high this morning, climbing above $9,300, according to Coin360.
Binance boss Changpeng ‘CZ’ Zhao was, somewhat unsurprisingly, very happy about this.
Over 9000! pic.twitter.com/Z1kWmmgLXG
— CZ Binance (@cz_binance) June 16, 2019
What a difference six months can make.
Today marks 6 month anniversary of Bitcoin bottom hit on Dec 16 last year.
6 months ago Bitcoin was supposed to hit $1000 and now we are talking about breaking $20k and beyond.
Crazy how times change.
— Anondran (@anondran) June 16, 2019
Next stop $10,000 and the beginning of a “crypto summer”, according to Circle CEO Jeremy Allaire.
Crypto market rallying (again) ahead of Libra launch, marking a massive inflection point in global adoption of cryptocurrency. BTC > $10k by June 21st, marking start of Crypto Summer.
— Jeremy Allaire (@jerallaire) June 15, 2019
Allaire believes that the launch of Facebook’s Libra (aka GlobalCoin) initiative will play a major role here.
The social media giant has received backing from over a dozen firms, including Visa, Mastercard, PayPal and Uber, according to a report by the Wall Street Journal (WSJ). It quotes sources familiar with the matter, who say that the companies have each invested around $10 million in a consortium that will govern Libra, to be known as the Libra Association.