Bitcoin, Gold And Pudgy Penguins Stir The Market: This Week In Crypto
The past week has been a rollercoaster ride in the financial world, with Bitcoin (CRYPTO: BTC), gold, and even Pudgy Penguins making headlines. From Jim Cramer‘s Bitcoin endorsement to Peter Schiff‘s golden prophecy, the market has been buzzing with activity. Let’s dive into the top stories of the week.
Jim Cramer Advocates for Bitcoin
Market commentator and media personality, Jim Cramer, has expressed his concerns about the escalating U.S. national debt. In a recent CNBC segment, Cramer suggested that Bitcoin could serve as a hedge against this deficit, revealing that he is buying a lot himself.
Peter Schiff’s Golden Prophecy
Long-time gold advocate and crypto critic, Peter Schiff, believes that we’re nearing “another big leg up” in gold and silver. According to Schiff, this could jolt Wall Street out of its digital daze and back into the arms of precious metals.
See Also: Bitcoin Slips Below $117,000 On Whale Selling, Ethereum, XRP Hold Steady
Pudgy Penguins Token Soars
Pudgy Penguins (PENGU), a coin related to the non-fungible token space, has seen its value skyrocket fivefold over the past month. The Solana-based coin has outperformed market heavyweights like Bitcoin, Ethereum, and Dogecoin.
UK’s Plan to Sell Seized Bitcoin
Economist Peter Schiff has praised the UK’s plan to sell almost $6.70 billion in stolen Bitcoin as a “right” approach to address their budget deficit. Schiff hopes that the US doesn’t buy it for the strategic reserve.
Trader Warns of Local Top in August
A pseudonymous trader who accurately predicted the local bottom on major cryptocurrencies in April is now warning that August may see a local top for the crypto market.
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This story was generated using Benzinga Neuro and edited by Ananya Gairola
Photo courtesy: Shutterstock
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Posted-In: Cryptocurrency
