The Magazine for Asian Investors
Bitcoin continues to march towards $45,000, as of today (March 25) Bitcoin rose 2.08% to move at $43,956.93 before falling slightly again.
The U.S. stock markets closed yesterday (Thursday, March 24) in the plus after oil prices fell slightly yesterday.
The market was also supported by the lowest number of jobless claims in the U.S. in more than 50 years and the Purchasing Managers’ Index (PMI) for the U.S. manufacturing and services sectors, which rose to the highest level in eight months.
- The Dow Jones Industrial Average rose 349.44 points, or 1.02%, to close at 34,707.94.
- The S&P 500 rose 63.92 points, or 1.43%, to close at 4,520.16.
- The NASDAQ rose 269.24 points, or 1.93%, to close at 14,191.84.
Movements in the Crypto Space
El Salvador has recently entered into a partnership with Binance to further develop the Bitcoin ecosystem in the country.
On March 23, El Salvador’s Ambassador to the United States, Milena Mayorga, stated that El Salvador is seeking assistance from the world’s largest cryptocurrency exchange, Binance, to facilitate and expedite the process of adopting Bitcoin as legal tender, including the issuance of Bitcoin bonds.
Binance CEO Changpeng Zhao will visit El Salvador today and meet with President Nayib Bukele to further develop the use of bitcoin as legal tender, which has been in effect since September 2021, and the issuance of bitcoin bonds.
Zhao praised El Salvador for pioneering Bitcoin and said Bukele will go down in history as president for making a bold judgment.
The launch of Bitcoin in El Salvador comes amid public protests over Bitcoin’s volatility, which has plummeted since hitting a record high in early November 2021.
The Spot Market is Open
Friday, March 25, 2022