Bitcoin Holds Gains, USD Sees Weekly Loss

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Bitcoin is hanging close to record highs Friday, set for gains of over 20% in a milestone week marked by the endorsement of major firms, while the weak US jobs market weighs on the Buck.

Bitcoin, the world’s most popular cryptocurrency last traded 1.1% down at 47,451, just South of a record high of 49,000 marked after US banking group BNY Mellon (NYSE:BK)said it had formed a unit to help clients hold, transfer, and issue digital assets.

Elon Musk’s Tesla (NASDAQ:TSLA) announced this wk in a SEC filing that it bought $1.5-B of Bitcoin in January.

Credit card giant Mastercard’s (NYSE:MA) plans to offer support for some cryptocurrencies also boosted Bitcoin’s move towards mainstream finance.

Elsewhere: the USD headed for its 1st losing wk in 3 on signs of weakness in the US jobs market.

Thursday’s weaker-than-expected wkly US jobless claims data added to concerns the Buck’s rally priced in a rebound for the US economy too fast.

Have a healthy weekend, Keep the Faith!

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