A SURGE in crytpo investment this week has led to Dogecoin and Ethereum reaching yet another all-time high.
Currently, Bitcoin is trading at around $56,000 and has seen steady gains in the last few days.
Dogecoin is up by nearly 20 per cent over the last 24 hours and by 60 per cent over the last week
And the incredible price surge of Ethereum has made its 27-year-old founder a BILLIONAIRE.
Vitalik Buterin now has at least $1 billion worth of the cryptocurrency in his main wallet – making him the world’s youngest crypto billionaire. Buterin spearheaded the launch of the Ethereum blockchain in 2015.
Ethereum’s cryptocurrency, ether, surged past $3,000 for the first time early Monday morning, marking a 325% rise since the beginning of this year.
Ethereum’s incredible rise came after three years of decline which saw it falling below $100 in April 2020 following a previous high of $1,200 in 2018. But over the past 12 months the currency has absolutely rocketed.
That said, as with all cryptocurrencies, there are no guarantees that any investments will make money and in many cases investors has lost absolutely everything they have put into the coins.
Read our cyptocurrency live blog below for the very latest updates…
‘BE PREPARED TO LOSE ALL YOUR MONEY’
People who invest in cryptocurrencies should be prepared to lose all their money, Bank of England Governor Andrew Bailey has said.
Asked at a press briefing about the rising value of cryptocurrencies on Thursday, Bailey said: “They have no intrinsic value.
“That doesn’t mean to say people don’t put value on them, because they can have extrinsic value. But they have no intrinsic value.”
He added: “I’m going to say this very bluntly again. Buy them only if you’re prepared to lose all your money.”
SHIBA INU TOKENS: WHAT ARE THEY WORTH?
The value of Shiba Inu is currently sitting at $0.00000163, compared to a lower $0.0000006 in mid-April, according to CoinMarketCap.
Shiba Inu hit its peak of $0.00004 on April 20 but has since dropped to its current level.
In comparison, Dogecoin is currently worth $0.60 – up from $0.005 at the beginning of the year.
The value of Dogecoin has surged thanks to celebrity backing, while a bunch of Reddit threads also called for it to hit a value of $1 per coin.
WHAT IS THE SHIBA INU COIN?
Very little is known about Shiba Inu so it’s difficult to know whether it’s legitimate.
According to its website, they’re cryptocurrency tokens and allow users to hold trillions of them.
Shiba tokens are listed and incentivized on ShibaSwap, its own decentralized exchange.
The tokens feature the same Shiba Inu dog as Dogecoin, which has rocketed in popularity recently.
Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, told The Sun: “The Shiba Inu coin appears to have been created just to give Dogecoin a run for its money.
“It features the same dog which became a meme, and aims to replicate Dogecoin’s success of turning a joke into a money making machine.”
CARIBBEAN ISLAND COULD BE FIRST DESTINATION TO USE BITCOIN INSTEAD OF MONEY
A Caribbean island could become the first place in the world to use Bitcoin instead of money.
Luxury home owners on Bequia will be able to use the digital cryptocurrency to do their grocery shopping or buy a coffee, developers say.
A small number of shops around the world already accept Bitcoin as payment and a few houses have been sold using it in the UK.
But planners say their new development on paradise isle Bequia will be “the world’s first fully Bitcoin-enabled community”.
The 39 luxury villas will be sold in the cryptocurrency.
And Bitcoin will be taken as payment for everyday essentials at the development’s shop, restaurant, café and cinema.
ETHEREUM FOUNDER BECOMES CRYPTO BILLIONAIRE
Vitalik Buterin has become the world’s youngest crypto billionaire after the digital currency he co-founded surged in price.
The 27-year-old Russian-Canadian…