This Week in Crypto, August 2
Bitcoin surges this week
Positive news helped boost the price of Bitcoin over $10,000 this week. With the Federal Reserve cutting interest rates for the first time in 10 years, the price rose 10% in three days as investors responded to the news. For Sarson Funds’ take on on the Fed rate cut and Bitcoin, click here.
Leicester FC Renews Agreement with Crypto Platform
Further strengthening the relationship between sports and crypto, the English Premier football team, Leicester FC renewed its agreement with cryptocurrency investment platform eToro. The platform facilitates payment with crypto for tickets or team merchandise. Six other football clubs had followed suit and signed agreements with the platform, according to eToro.
Investors Get Ready for Litecoin Halving
Sarson Funds is poised to take advantage of the Litecoin (LTC) halving set for next week, on August 6.
Previously, Litecoin miners would receive 25 coins for mining Litecoin. After August 6 they will receive 12.5 coins, drastically reducing the amount of coins in circulation, increasing the demand, and potentially raising the price.