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Firm buys $425 million worth of Bitcoin as price looks to break above $11,000.

After touching an intraday high of $10,840 yesterday, the top crypto continued the upside by hitting $10,950. Although the declines registered in the altcoin market have meant the overall cryptocurrency market cap has lost nearly $6 billion in 24 hours, Bitcoin’s steady match towards $11,000 has seen its dominance index jump nearly 3% since Monday.

BTC/USD chart. Source: TradingView

While Ethereum, XRP, Bitcoin Cash, and most of the alternative coin market has faced bear pressure, BTC/USD has printed a series of higher highs over the past three days.

As Bitcoin climbs, most altcoins are seeing red on the day. Ethereum has lost about 3% in the past 24 hours to slip below $365, while XRP has dipped nearly 2% to change hands around $0.24. Other top 10 coins seeing losses include Polkadot at -2.4%, Bitcoin Cash is down to $232 with a 3% slip and Binance Coin continues a bad few days with more than 7% in losses over the past 24 hours.

Aave and Band Protocol have both slipped 14% while SushiSwap is down 24% to lead top DeFi losers.

These losses have seen Bitcoin make ground on lost dominance. As of writing, the number one ranked cryptocurrency has a market cap of $201 billion, against a total of $348 billion for the entire cryptocurrency market. It gives Bitcoin 61.24% dominance over the market, rising from a low of 59.20% on September 14.

BTC.D chart (1 day) calculated by TradingView

MicroStrategy buys $425 million worth of Bitcoin

The upside for BTC/USD is also building at a time one company has amassed Bitcoin worth nearly $500 million over the past few

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currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

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