This Week In Cryptocurrency - Friday, Feb. 15

We’ve Hit Cruising Altitude

After the impressive rally, we had to end the previous week, this week has been rather boring. The cryptocurrency market cap bounced between $120B and $122B ultimately losing about one percent in the week.

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Cryptocurrency Market Stats (2/15/19)

Dash (12.38%), Maker (24.19%), and NEO (10.02%) all saw double-digit gains this week while few coins were in the red. The top three were a bit of a mixed bag over the last seven days.

Bitcoin rose 2.15% to bring its price over $3,600. 

Ethereum had a monster week with a price increase of 8.13%. It’s now right above $120.

XRP wasn’t as fortunate. News of J.P. Morgan’s new crypto may have been the cause of the coin’s 1.13%slide. 

Domestic Cryptocurrency News

The Virus Is Spreading: Morgan Creek Digital hedge fund launched a Blockchain Opportunities Fund this week that focuses on digital asset investments. The new, $40 million fund includes investments from the Fairfax County Police and Fairfax County Employee’s Pension plans. This investment is the first time in U.S. history that a public pension fund has invested in cryptocurrency.

Morgan Creek Digital founder Anthony Pompliano has long been an advocate of cryptocurrency on Twitter and his podcast, Off the Chain. In a recent thread on Twitter, he outlined additional details of the fund including their investment strategy and more information on the stakeholders outside of the pension funds.

Jamie Dimon, You Sly Fox: Just a couple short years after calling Bitcoin a fraud, J.P. Morgan CEO Jamie Dimon appears to be changing his tune, albeit just slightly. This week, the multinational bank announced JPM Coin, a digital token to instantly settle payments between J.P. Morgan clients. The currency is pegged 1:1 with the U.S. dollar similar to the many other stablecoins in the market.

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