Bullet Points:
• Fox News host Tucker Carlson speculated that the recent bullish Bitcoin market move was due to the U.S. government buying Bitcoin to pay ransomware attackers.
• The Federal Aviation Administration (FAA) halted nationwide departures on Jan. 11 due to a “computer outage”.
• Bitcoin has recorded a 29% growth in price since the beginning of the year, with a significant 4% upswing on the same day as the FAA notice.
Fox News host Tucker Carlson recently speculated that the recent bullish Bitcoin market move was due to the U.S. government buying Bitcoin to pay ransomware attackers. The Federal Aviation Administration (FAA) halted nationwide departures on Jan. 11 due to a “computer outage”, and Carlson linked this to a cyber attack. He suggested that “almost all ransoms like this are paid in Bitcoin”, and noted that the notice occurred right around the time BTC began pumping.
This surge in Bitcoin prices has been notable, with the leading cryptocurrency recording a 29% growth in price since the beginning of the year. On the day that the U.S. flights were grounded, Bitcoin posted a significant 4% upswing to close the day at $17,930. This was accompanied by an increase in trading volume of over $50 billion on the same day.
Despite the speculation surrounding why the market is so bullish, there are a few other factors that could have contributed. Firstly, the new stimulus package proposed by the Biden administration has increased optimism for a stronger U.S. economy. This is likely to have a positive effect on Bitcoin prices, as investors are now more confident in the future of the U.S. dollar.
In addition, the news that PayPal is now accepting payments in Bitcoin has also likely had a positive impact on the market. This move is likely to further increase the retail adoption of Bitcoin, and could lead to more investors entering the market.
Finally, the heightened interest in Bitcoin from institutional investors has likely been a major factor in the recent price surge. With more large institutions entering the market, there is an increased demand for Bitcoin, which drives up the price.
Although speculation surrounding the U.S. government’s involvement in the recent Bitcoin pump is unverified, the increased interest in Bitcoin from both retail and institutional investors is likely to be a major factor in the current bullish market.