Baxia Markets
September 24, 2021

Bitcoin Rises As More Groups Show Support

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PSV, a well-known Dutch football team, announced a collaboration with bitcoin exchange Anycoin Direct. PSV will be the first major football team in the EU to have its whole sponsorship paid in bitcoin, according to the statement. "The possibilities and the future that the world of cryptocurrency offers is quite promising," said Frans Janssen, commercial director at PSV. "We are continually innovating, and bitcoin fits nicely into this picture." Bitcoin was up nearly 4% to $44,231 at the time of writing. It's still below $50,000, and it's a long way from it's all-time high of $63,000.




Following local lows, the share of BTC supply that has been idle for at least a year is destined to increase. Bitcoin is still trading at a significant discount to its September 6 highs (down about 16 percent as of 11 a.m. ET Thursday). The situation in Chivo is still in turmoil, and protests are intensifying. Despite the fact that businesses in El Salvador are required to take Bitcoin as payment for goods and services, many still refuse, claiming that they would rather lose the sale. Businesses that face technology barriers are excluded from the rule, and many are taking advantage of it.


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