London Daily

Focus on the big picture.
Sunday, Sep 28, 2025

Bitcoin reaches $16K, highest level since 2018

Bitcoin reaches $16K, highest level since 2018

Bitcoin on Thursday reached a record valuation of $16,118, its highest level since 2018. The cryptocurrency is up 123% year-over-year and 50% this quarter, according to data from the California-based digital currency exchange Coinbase.

"At a high level, there's no question the pandemic has had an impact on the underlying technology of cryptocurrencies themselves, but that's not the only factor," Joseph Guagliardo, a technology and blockchain lawyer at Troutman Pepper, told FOX Business.



The pandemic has created "concern over U.S. inflation and global inflation," making Bitcoin something of a "digital gold and a safe haven," he said.

The other factor, according to Guagliardo, is that "the underlying technology" and infrastructure used to create cryptocurrencies like bitcoin "is starting to reach a level of maturity," prompting investors to get more involved.

"It's a perfect storm situation. ... I can tell you that there are forces going on beyond the pandemic that are going on with cryptocurrency and technology," he said.

Guagliardo mentioned Ethereum, a type of blockchain technology that "has been very widely adopted" and has matured significantly since the 2017-2018 time period when people first started showing more interest in blockchain and cryptocurrency.

Additionally, companies like Microsoft, AT&T, Overstock.com and Twitch have adopted bitcoin as a form of payment. PayPal announced in October that it had launched a new service for users to buy, hold and sell cryptocurrency on the platform.


"The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly," Dan Schulman, president and CEO of PayPal, said in an Oct. 21 statement.

There is, however, still room for caution, as Harvard economics professor Ken Rogoff told FOX Business' "Mornings with Maria" on Thursday.

"I'm a bit of a bitcoin skeptic," Rogoff said. "I think it'll have some role on the outskirts of our financial ecosystem, but it surprised me how well it's done."

Guagliardo said potential investors should understand cryptocurrency and how it works before investing the same way investors should understand companies.

"My first advice to anyone who is looking to crypto as an investment is to first understand what it is -- what the technology is," he said. "If they're going to buy bitcoin or Etheruem, first understand the technology ... at the end of the day, they're making an investment in a technology and they should understand that first like they would understand a company and what they do."

Newsletter

Related Articles

0:00
0:00
Close
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
Nigel Farage Emerges as Central Force in British Politics with Reform UK Surge
Disney Reinstates ‘Jimmy Kimmel Live!’ after Six-Day Suspension over Charlie Kirk Comments
U.S. Prosecutors Move to Break Up Google’s Advertising Monopoly
Nvidia Pledges Up to $100 Billion Investment in OpenAI to Power Massive AI Data Center Build-Out
U.S. Signals ‘Large and Forceful’ Support for Argentina Amid Market Turmoil
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
Vietnam Faces Up to $25 Billion Export Loss as U.S. Tariffs Bite
Europe Signals Stronger Support for Taiwan at Major Taipei Defence Show
Indonesia Court Upholds Military Law Amid Concerns Over Expanded Civilian Role
Larry Ellison, Michael Dell and Rupert Murdoch Join Trump-Backed Bid to Take Over TikTok
Trump and Musk Reunite Publicly for First Time Since Fallout at Kirk Memorial
Vietnam Closes 86 Million Untouched Bank Accounts Over Biometric ID Rules
Explosive Email Shows Sarah Ferguson Begged Forgiveness from Jeffrey Epstein After Taking His Money
Corrupt UK Politician Ed Davey Demands Elon Musk’s Arrest for Supporting Democracy
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
Alibaba Debuts Open-Source Deep Research Agent with Benchmarks Rivaling OpenAI
Marcos Faces Legacy-Defining Crisis as Flood Projects Scandal Sparks Massive Tide of Protests
China’s Micro-Drama Boom Turns Stalled Real Estate Projects into Lavish Film Sets
New Eye Drops Show Promise in Replacing Reading Glasses for Presbyopia
'Company Got 5,189 H-1B Visas, Then Laid Off 16,000 Americans': US Defends New $100,000 H-1B Visa Fee
Golf legend tells Omar she should be 'sent back to Somalia' after her Kirk comments
EU Set to Bar Big Tech from New Financial Data Access Scheme
China Bans Livestreaming and AI in Religion Amid Crackdown on Shaolin Temple Scandal
×