The cryptocurrency market had quite the shakeup last week, causing a spike in most digital currencies. On Valentine’s Day, six days ago, JP Morgan announced that it would launch a test for its new JPM coin. This was the biggest crypto news to surface in quite some time. Now, digital currencies seem to have corrected, and most are trading red today.
In today’s crypto news, we’ll discuss Elon Musk’s interview and the details behind him calling Bitcoin “quite brilliant.” Also, we’ll look into Binance’s new testnet they just released.
Crypto News: February 20th, 2019
Elon Musk and Bitcoin
The crypto news that’s been receiving the most buzz this morning has to do with Tesla’s CEO Elon Musk. Musk held a podcast interview with advisory services firm ARK Invest’s and called Bitcoin’s structure “quite brilliant.”
The tech entrepreneur believes that digital currency is a far better transfer of value than paper money. In the past, Musk has been pegged as the creator of Bitcoin. With his background, it could be quite possible, but the tech entrepreneur has since shut down those rumors. Shame, considering we still don’t know who Satoshi Nakamoto really is.
In February of last year, Musk tweeted that he owned zero cryptocurrency, which was a surprise to most.