Bitcoin News 7 August 2017 – Bitcoin Price Soars beyond $3400

Bitcoin News today sees the Bitcoin price rise above $3400 in the wake of SegWit activation on 1 August 2017, and the subsequent birth of Bitcoin Cash. High traded volume supporting the soaring price as investors rush to own Bitcoin.



Some investors are paying an almost 75% premium just for exposure to Bitcoin and this relates to Grayscale Bitcoin Trust, the only exchange traded Bitcoin product on the market today.


The SEC is changing guard as the existing top official in charge of approving new financial products at the Securities and Exchange Commission, is stepping down in September. Could this mean that new life could be breathed into approving ETF’s? In particular Bitcoin EFT’s? If this happens, another reason to be bullish about the growth in Bitcoin value.




Other news headlines:


ICO Bubble Is Just Starting, Ex-Morgan Stanley CEO to Raise $950 Million – this new way of funding a project is catching the attention of startups, investors and regulators alike. Just recently boxer Floyd Mayweather sponsored an ICO and raised over US$30 million.


Mastercard Eyes Cryptocurrency Refunds in New Patent Application – detailing an infrastructure through which users could verify their identities which are linked to cryptocurrency addresses disclosed.


It seems so easy to hack into a network or device connected to the internet – Mikhail Sosonkin is a “white-hat,” otherwise known as an ethical hacker and he showed how he easily managed to hack into a computer testing security. Hacking is a huge concern as more devices will be connected to the internet – it is estimated over 80 Billion by 2025. These devices will need encryption to ensure security. This is where EOT steps in – Encryption of Things.


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