Last week, Bitcoin remained under pressure. On Friday, the price of digital gold even fell below the psychological level of USD 30,000.Interestingly, this price drop coincided with the publication of a report from BitMEX Research suggesting that a critical flaw called \u201cdouble spend\u201d had occurred in the Bitcoin blockchain:Source: TwitterDouble-spending is a potential flaw due to which one can spend the same digital token more than once. In other words, it is like counterfeiting money. Hence, it is a severe threat to any cryptocurrency, and if it happens, it may destroy the trust in the given cryptocurrency, and its price may even drop to 0.However, almost immediately, the crypto community was able to dispel the claims about the double spend. Hashcash inventor Adam Back highlighted that there was no double-spending of Bitcoin:Source: TwitterThe cryptocurrency enthusiasts explained that it had been just a so-called orphan block:Source: TwitterMoreover, Back indicated that he took advantage of the price dip and bought more Bitcoin:Source: TwitterOther Bitcoin bulls also availed themselves of the cryptocurrency price pullback. A well-known Bitcoin bull with Twitter handle @DocumentBitcoin ( and an avatar people associate with Satoshi Nakamoto) made fun of the FUD about the double spend by saying the following:Source: TwitterNot only cryptocurrency enthusiasts bought the recent Bitcoin price dip, but big institutional investors as well. Michael Saylor, MicroStrategy founder and CEO, announced that they bought for their hedge fund approximately 314 Bitcoins at an average price of $31,808 for $10 million in cash:Source: TwitterBlackrock, the world\u2019s largest asset manager with almost $8 trillion under management, will invest in Bitcoin as well. The investment management company has authorized two of its funds to invest in Bitcoin futures, according to Business Insider.After a relatively volatile week, the Monday market starts with a small price rebound. At the time of writing,\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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