Bitcoin was trading more than 4% higher on Thursday morning.
The price was around $38,797 per coin, while rivals Ethereum and Dogecoin were trading around $2,831 and 42 cents per coin, respectively, according to Coindesk.
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Miami will be the center of the cryptocurrency world over the next few days.
The city is hosting the largest-ever cryptocurrency conference in a sign that what was once dismissed as a passing fad is now going mainstream.
The conference runs from June 3 to June 5 at the Mana Convention Center in Miami’s Wynwood neighborhood.
MIAMI TO HOST LARGEST CRYPTOCURRENCY CONFERENCE IN HISTORY
The event is expected to draw 50,000 attendees including big names such as Twitter CEO Jack Dorsey and Miami Mayor Francis Suarez, who has said he wants to make the city a crypto hub.
The conference was originally scheduled to run from April 30 to May 1 in Los Angeles, but was changed to Miami amid concerns of California’s strict COVID-19 policies.
GOOGLE TO ACCEPT CRYPTOCURRENCY EXCHANGE, WALLET ADVERTISEMENTS IN AUGUST
Cryptocurrencies will be getting more exposure starting in August when advertising will start to appear on Google.
Ads will be accepted for cryptocurrency exchanges and digital wallets targeting U.S. consumers on its platform.
The tech giant said it will update its financial products and services policy in August to “clarify the scope and requirements to allow the advertisement of cryptocurrency-related business and services.”
A cryptocurrency wallet is an app that allows users to store and retrieve their digital assets from crypto exchanges, such as Coinbase.
Coinbase recently announced that select customers will be able to begin using the Coinbase Card, a Visa debit card that offers up to 4% back in crypto rewards on everyday purchases, with digital wallets Apple Pay and Google Pay starting this week.
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PayPal said last week that it was developing a withdrawal function to allow its users to move their cryptocurrencies into digital wallets.