Superb Sunday for Bitcoin as price breaks $9,000

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.

What a difference six months can make.

Next stop $10,000 and the beginning of a “crypto summer”, according to Circle CEO Jeremy Allaire.

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.

Scott Thompson

Scott has been working in technology and business journalism for nearly 20 years, with a focus on FinTech, retail, payments and disruptive technology. He has been Editor of such titles as FStech, Retail Systems and IBS Journal and also contributed to the likes of Retail Technology Innovation Hub, PaymentEye, bobsguide, Essential Retail, Open Banking Hub, TechHQ and Internet of Business.