Bitcoin (BTC) Rises as Tensions Grow Between the United States and Iran
An uneasiness has swept the globe this week as tensions between the United States and Iran have been ratcheted to a new level.
In response to last week’s killing of Quds Force General Qassem Soleimani, Iran reportedly fired as many as 15 ballistic missiles into Iraq early Wednesday, targeting U.S. military and coalition forces.
As a result, commodities and digital currencies have seen a surge in volatility, with Bitcoin (BTC) jumping above $8,400 at one point before pulling back to just below $8,000.
While some initially pointed to the recent $500 million increase in the market cap of the Tether (USDT) as a potential reason for Bitcoin’s latest gains, the additional market cap was the result of an update that added TRON-based USDT to the total, not the minting of new USDT.
Bitcoin & Gold in clear focus to start the year as tensions between US & Iran escalate pic.twitter.com/5IwKQlkx8S
— skew (@skewdotcom) January 8, 2020
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.