Market Wrap: Cryptos Rise as Russia Mulls Bitcoin for Oil Payments; Dogecoin Rallies
- Date: 25-Mar-2022
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Market Wrap: Cryptos Rise as Russia Mulls Bitcoin for Oil Payments; Dogecoin Rallies
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Most cryptocurrencies traded higher on Thursday after Russia's Duma committee chairman suggested during a news conference that bitcoin (BTC) could be accepted as payment for the nation's oil and other resource exports.
Russia's announcement contributed to a spike in BTC above $44,000, although cryptos were already tracking upside moves in equities earlier in the New York trading day. Still, traditional safe-haven assets, such as gold and the U.S. dollar, also rose on Thursday, suggesting some caution among global investors.
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