Why Bitcoin, Bitcoin Cash, and Shiba Inu Are All Skyrocketing Today
Bitcoin (CRYPTO: BTC), Bitcoin Cash (CRYPTO: BCH), and Shiba Inu (CRYPTO: SHIB) are up 9.00%, 8.10%, and 26.67% in the past 24 hours, respectively, as of 11:25 a.m. EDT. The three are now trading at $54,656.16, $622.61, and $0.00002301 apiece, respectively. Yesterday, U.S. Bank, the fifth-largest retail bank in the country with $8.6 trillion assets under management, announced it would offer cryptocurrency custody service to investment advisors and fund managers. They will be able to store their private keys (unique passcodes) to Bitcoin, Bitcoin Cash, and Litecoin to their wallets safely with U.S. Bank.
As for SHIB, investors were euphoric after Tesla's CEO, Elon Musk, tweeted a picture of his shiba inu dog on top of his Tesla car three days ago. Musk had previously promoted meme cryptocurrencies, and even though the tweet wasn't directly related to SHIB, there's the expectation that Musk will tweet about SHIB in the future. That was enough to send the coin up 220.90% in the past seven days.
Image source: Getty Images.
Source Fool.com
