Marcus Swanepoel, chief executive officer of London-based cryptocurrency platform Luno, earlier this week told Reuters that in times of market fluctuations, investors tend to move small proportions of their portfolios into Bitcoin, with the hope of achieving outsize gains.
“If you’re wrong, you’re not losing lots of money, but if you’re right we are talking outsized returns,” said Swanepoel, as quoted by Reuters.
In today’s trading, the Bitcoin price stood at $11,581.39, as of 08:50 BST. The digital currency has lost 4.6% of its value in the past 24 hour, according to data from digital currency tracker Coinmarketcap. The coin’s total market capitalisation currently stands at $206.9 billion, which represents 68.3% of the combined value of all digital currencies.
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