Bitcoin exceeded PayPal capitalisation

The digest with the results of 23 October was prepared together with the guys from Moni. If speed is important to you, you can read the news in our Telegram channel, and if you want to keep your hand on the pulse, subscribe to the email newsletter and receive the digests right to your letterbox.

According to AssetDash, the current market capitalisation of Bitcoin is just over $240 billion, an increase of 1.05% in the last 24 hours. At the same time, PayPal’s market capitalisation has fallen by more than 4% to $239 billion, although PayPal shares are trading at historic highs.

Interestingly, this happened after PayPal announced its support for Bitcoin and after that for several days the market capitalisation of BTC exceeded that of PayPal itself.

Bitcoin outperformed Bank of America, Adobe and Disney in terms of capitalisation, with Nvidia, Mastercard, Visa, Tesla and the largest technology companies – Facebook, Microsoft, Amazon and Apple. I wonder how soon Bitcoin will catch up with them?

PayPal is planning to buy cryptocompanies and has begun negotiations with BitGo.

PayPal is studying the possibility of buying cryptographic companies, Bloomberg reports with reference to its sources. This will allow the payment system to expand its coverage of digital currencies, the publication writes.

The deal may take place over the next few weeks. The publication notes that in the event of a breakdown in negotiations, PayPal may switch its attention to another company from the industry.

BitGo was founded in California in 2013 by the current CEO, Mike Belsch. BitGo offers digital wallets that require multiple transaction confirmations, as well as offline storage for BTC and other cryptographic products. BitGo has also launched a platform that brings together trading, lending and storage capabilities for digital assets.

Tether released another 300 million USDT tokens, adding a total of 600 million USDT to the issue over the past week.

According to Cryptorank, USDT capitalization has increased by 23% since early September: $13.03 billion -> $16.07 billion.

Barry Silbert, CEO of Grayscale Investments, noted that the company increased assets under management by $300 million within one day.

According to the new report of Grayscale, the volume of assets under management of the company is $7.3 billion. About a week ago the value for the first time surpassed $6 billion. And now the size of the bitcoin trust GBTC alone exceeds $6 billion.

Acceptance of applications for participation in the Battle of Portfolios is closed! 978 participants will come together in the battle for iPhone 12, PlayStation 5 and AirPods Pro!

Although some have set themselves the goal of taking the last place and getting $100 for the „worst“ portfolio, it will be interesting to watch the portfolios anyway.

All you have to do is follow the results on the platform (you can already see who is in which place!).

And exactly 7 days later, on 30 October at 20:00 (Moscow time), we will know who won!

Good luck to all!