Bitcoin Rises Back Above $8K Despite Winklevoss Rejection

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The price of bitcoin was at 8,128.40 United States Dollar Friday just before Noon New York time.

The cryptocurrency, now accounting for upwards of 80% of all online gambling transactions, held its own after news that the U.S. Securities and Exchange Commission rejecting a listing request late Thursday for a bitcoin exchange-traded fund run by Tyler and Cameron Winklevoss.

CBOE Global Markets Inc., which would have listed the ETF, failed to show that the underlying Bitcoin market was "resistant to manipulation."

Trading and data volume concerns were also mentioned in the SEC statement.

Bitcoin has a long way to gain ground from its highs near $20,000 back in December.  Since that time, the cryptocurrency has dipped down below the $6000 mark last month.

- Aaron Goldstein, Gambling911.com

Business/Financial News