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How did the largest cryptocurrencies react to the positive news?

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How did the largest cryptocurrencies react to the positive news?

First, MicroStrategy announced plans to buy bitcoin for $ 500 million, after which the cryptocurrency was officially recognized as a means of payment for the first time. The market’s positive reaction was immediate.

largest cryptocurrencies

New bonds MicroStrategy

On June 7, MicroStrategy announced that it would raise $ 400 million to buy bitcoins. The company will place a bond issue maturing in 2028. Later, the CEO of the company, Michael Sailor, announced that the amount was increased to $ 500 million, and the interest on this proposal exceeded $ 1.6 billion.

Bitcoin was recognized as an official means of payment

On June 9, El Salvador’s parliament supported the law recognizing bitcoin as an official means of payment. Acceptance of cryptocurrency for payment will become mandatory in the country. The government will also store $ 150 million worth of bitcoins to guarantee the automatic and instant exchange of BTC for the US dollar. Read more here.

Bitcoin

On the evening of June 8, the cost of bitcoin on the Bitxmi.com crypto exchange dropped to a local minimum of $ 30.9 thousand. After that, the cryptocurrency quotes began to recover. On June 9, they reached $ 36.7 thousand. During the day, the growth was 18%.

Ethereum

In the afternoon of June 8, the Ethereum rate dropped to $ 2.3 thousand. Then it began to grow, the next day, exceeding $ 2.5 thousand. Against the background of positive news for 24 hours, the cryptocurrency showed an increase of 8.7%.

Ripple

Last night, the price of XRP on bitxmi.com fell to $ 0.78, after which it reached $ 0.88 in three hours – an increase of 13%. The altcoin is now trading at about the same level, around $ 0.87.

Dogecoin

The value of the Dogecoin token on the bitxmi.com crypto exchange on the evening of June 8 fell to $ 0.290, after which it rose sharply. In a few hours, the altcoin rose in price by 10%, to $ 0.328. Now the price of Elon Musk’s favorite cryptocurrency is $ 0.338.

Chainlink

On June 8, Chainlink dropped to $ 21.3. In the next few hours, it surged nearly 17% to $ 24.6. As of June 9, the cost of the altcoin is $ 25.14.

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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