Bitcoin briefly hits $5,000 after 20% surge

Bitcoin rose as much as 20 percent in Asian trading to briefly touch the $5,000 mark, the biggest one-day gain since April of last year. (Reuters)
Updated 02 April 2019

Bitcoin briefly hits $5,000 after 20% surge

  • Bitcoin rose as much as 20 percent in Asian trading to briefly touch the $5,000 mark
  • It is the biggest one-day gain since April of last year

LONDON: Bitcoin briefly touched $5,000 on Tuesday, its highest level since late November, while other cryptocurrencies also surged.
On the Luxembourg-based Bitstamp exchange, Bitcoin rose as much as 20 percent in Asian trading to briefly touch the $5,000 mark before settling at $4,730 by 0700 GMT, up 14 percent on the day; still its biggest one-day gain since April of last year.
Ethereum’s ether and Ripple’s XRP, two other large cryptocurrencies, also jumped higher.
It was not immediately clear what was behind the rally in virtual currency prices.


Report: 2 Iranian lawmakers arrested for ‘disrupting’ market

Updated 22 August 2019

Report: 2 Iranian lawmakers arrested for ‘disrupting’ market

  • The report did not reveal if they have been charged with any financial crimes
  • Iran arrested several people since 2018 on corruption charges

TEHRAN: Iran’s semi-official Fars news agency says two lawmakers have been arrested for unspecified actions described as “disrupting” the country’s car market.
The report says the two lawmakers — Fereydoun Ahmadi and Mohammad Azizi — were initially taken to the Evin prison in Tehran but they were later released for about $85,000 in bail.
The report didn’t specify if the two have been charged with any financial crimes.
Iran is trying to crack down on corruption and has arrested several persons since 2018. Two prominent local businessmen have been hanged.
Iran’s economy nosedived since the US pullout from the nuclear deal last year. Prices of cars have skyrocketed as Western manufacturers pull out of the country and foreign-produced parts are becoming harder to find. China is trying to fill the void.