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Bitcoin soars to 50,000 again on institutional demand. Market participants cited the increase in institutional crypto services from banks and financial institutions to cope with rising investor demand, as one factor driving bitcoin’s surge.

Bitcoin soars to 50,000 again on institutional demand. Market participants cited the increase in institutional crypto services from banks and financial institutions to cope with rising investor demand, as one factor driving bitcoin‘s surge.



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  1. tldr; Billionaire George Soros’ investment firm, Soros Fund Management, has reportedly been trading in bitcoin for the past few months. “I’m not sure bitcoin is viewed only as an inflation hedge here. It’s crossed the chasm to mainstream,” said Dawn Fitzpatrick, CEO and chief investment officer of the firm. Bitcoin and other cryptos have rallied this year, despite concerns about a crackdown in China.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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