# "Bitcoin is one hell of an invention"

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Last modified: 2021-01-30

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By Paul Ebeling · 2021-01-30
Tags: Shayne Heffernan on Investments, money, Gold, market, asset, M%A, Headline News, Paul Ebeling, Bitcoin, Crypto, cryptocurrency, BTC, ether, ETH, cryptocurrencies, Bitcoin, Gold, Dalio, Ethereum, USD
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#Cryptocurrencies #Bitcoin #Ether #Defi

[$BTC](https://finance.yahoo.com/quote/BTC-USD?p=BTC-USD) [$ETH](https://finance.yahoo.com/quote/ETH-USD?p=ETH-USD) 

Bridgewater Associates founder Ray Dalio said Bitcoin is “*one hell of an invention*” and he’s considering cryptocurrencies as investments for new funds offering clients protection against the debasement of fiat (paper) money.

“*To have invented a new type of money via a system that is programmed into a computer and that has worked for around 10 years and is rapidly gaining popularity as both a type of money and a storehold of wealth is an amazing accomplishment,*” Mr. Dalio wrote in a note to clients and later posted on Bridgewater’s website. “*There aren’t many alternative gold-like assets at this time of rising need for them.*”

Crypto spot volumes Friday spiked to about $9-B the 2nd-highest mark in January according to CoinDesk 20.

Bitcoin’s price jumped Friday. In the span of 1 hr, starting at 9:00 UTC (4:00 a ET), the world’s largest cryptocurrency gained 11%, going from $33,377 to $37,113 according to CoinDesk 20 data. 

Then over the next hrs Bitcoin hit a 24-hr high of $38,566 before profit taking sell orders started to take over the market, with the price per 1 BTC at $34,616. 

It will be interesting to see how Bitcoin performs over the weekend because crypto never sleeps.

Ether (ETH), the 2nd-largest cryptocurrency by market cap was up Friday trading around $1,348 and climbing 0.81% in 24 hrs as of 21:00 UTC (4:00p ET).

DeFi (monthly decentralized exchange) or DEX, volumes for major projects in the Ethereum ecosystem have bested $50-B locked, according to data aggregator Dune Analytics.

Have a healthy weekend, Keep the Faith!

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