Bitcoin price sliced through the $50,000 resistance level during the early trading hours on March 3 as bulls found their momentum and the majority of altcoins joined in on the rally as the day progressed.
Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin was trading at $48,500 in the early hours on March 3 before surging 8.6% to an intraday high of $52,631. Currently, BTC price trades slightly below $51,000, and while $50,000 may have become a soft support, a daily close above the 23.6% Fibonacci retracement ($52,000) is needed to confirm that a bullish reversal has taken place.
Netflix may just be the next Fortune 100 company to buy Bitcoin (BTC) and Amazon will have to accept it, says billionaire Tim Draper. In an appearance on the Unstoppable Podcast on Feb. 28, the serial investor and hodler forecast that out of all possible candidates, Netflix is his pick for putting BTC on its balance sheet.
"You know who it might be? Netflix," he said.
"I think Reed Hastings is a very innovative guy and has a lot of creative thinking and I think he still controls the reins at Netflix and so I think that might be the next big one to fall."
The prediction comes as telltale signs of institutional buy-ins continue to surface at current prices, with $48,000 seeing multiple large transactions at Coinbase Pro over the past week. Classic buyers MicroStrategy and Square both added to their positions.
The globally leading exchange holding company Chicago Board Options Exchange, or CBOE, has filed to list the Bitcoin exchange-traded fund proposed by asset manager Van Eck. CBOE filed a Form 19b-4 requesting permission to list the ETF from the United States Securities and Exchange Commission on Jan. 3. On the form, CBOE emphasizes the benefits an ETF would offer to retail investors over the spot Bitcoin markets, including custody:
“Exposure to bitcoin through an ETP also presents certain advantages for retail investors compared to buying spot bitcoin directly. The most notable advantage is the use of the Custodian to custody the Trust's bitcoin assets.”
While CBOE did not reveal who its custodian is, the document notes its custodian is “a trust company chartered and regulated by [the New York Department of Financial Services].”
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