Many experts believe that the future economy would be run by the cryptocurrency. As we can see the biggest cryptocurrency bitcoin witnessed a 4.4% surge in its value and it has reached $12,424, on Monday. It is the highest value of bitcoin since July 2019. The year 2020 has proven to be a great one for bitcoin. Its value has soared over 70% this year which makes it one of the strongest performing assets.
Bitcoin Reaches its Highest Value in Over a Year
Plunging interest rates and immense bond-buying programs by central banks across the globe have raised the demand for the cryptocurrency. According to some investors around the world, the cryptocurrency limits inflation because of its capped supply.
Recently, according to a source, the US Justice Department took down efforts by the militias such as Hamas, al Qaeda, and Islamic State to gather funds with the help of cryptocurrency via schemes that also included the selling of bogus COVID-19 safety equipment to the hospitals in the United States. Therefore, it is evident that even those militias have realized the importance of cryptocurrency and technology itself.
According to a report, Officials from the US said that they have captured nearly $2 million during the largest-ever US move against those militant groups who were trying to use cryptocurrencies to gain their objectives. Authorities also captured more than 300 cryptocurrency accounts, 4 websites, and the same number of Facebook pages.
The investigators told that the website received payments through PayPal and US credit cards, but never delivered any sort of equipment, They said Al Qaeda gathered donations for its scheme through the Telegram app.