CMC Daily, Nov. 8: Bitcoin on Brink of Record Highs
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CMC Daily, Nov. 8: Bitcoin on Brink of Record Highs

6mo ago

Plus... the millionaire who thinks Ether could flippen Bitcoin next year, an update on SHIBA INU's supply, and New York City's mayor says crypto should be taught in schools.

CMC Daily, Nov. 8: Bitcoin on Brink of Record Highs

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Bitcoin's Highest Weekly Close EVER 🔥

After a sleepy week, Bitcoin roared to life on Sunday. The world's biggest cryptocurrency secured its highest-ever weekly close. And on Monday, it came within $1,000 of setting a new all-time high. Crypto trader Rekt Capital tweeted: "People who are thinking it's too late to buy #BTC don't realize how much higher it can still go in this cycle." Here's the latest.

ETH 'Could Flippen BTC' in 2022 👀

A 24-year-old who recently sold his crypto hedge fund for a whopping $35 million has predicted that Ether's market cap will overtake Bitcoin's in 2022. Rahul Rai said he "wouldn't be surprised" if "the flippening" happened within the current bull cycle. Overall, the millionaire thinks ETH's potential market cap is much higher than BTC's. What he said.

CoinMarketCap: SHIB Supply is Correct 🚨

SHIBA INU's circulating supply of 549 trillion is correct, CoinMarketCap has said. It comes after this figure was revised sharply upwards in October from 394 trillion SHIB. Speaking to our podcast, representatives said an internal audit began because the supply wasn't updating dynamically — and that SHIB's data is now in line with other data sources. Find out more.

Twitter Tells Musk to Sell Tesla Shares 💸

Over the weekend, Elon Musk asked his Twitter followers whether he should sell 10% of his Tesla shares. The poll received 3.5 million votes — and 58% said yes. It comes amid claims that unrealized gains, such as those achieved through stocks, amount to tax avoidance. Shares in the electric vehicle company fell 7% in pre-market trading on Monday. Read our story.

New NYC Mayor Wants BTC Taught in School 🏫

Schools should educate children about cryptocurrencies and blockchain technology, New York City's incoming mayor has said. Eric Adams — who has already said that he plans to accept his first three paychecks in Bitcoin — told CNN that young people are coming up to him in the street to ask how digital assets work. He has big plans for NYC.

Kroger Falls Victim to Bitcoin Cash Hoax ❌

The American grocery giant Kroger has launched an investigation after a fake press release was circulated that claimed it was going to start accepting Bitcoin Cash. News that the supermarket chain was supposedly embracing the world's No. 21 cryptocurrency spread like wildfire. A similar hoax targeted Walmart back in the middle of September. The latest.

FBI's Warning on Crypto ATMs 😬

Fraudsters are increasingly using cryptocurrency ATMs and QR codes to swindle funds from unsuspecting consumers, the FBI has warned. Criminals generate a QR code that directs funds to their own address, and encourage victims to visit a physical crypto ATM. From here, the victim is told to insert cash, buy digital assets, and scan the QR code. Learn more.
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