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Bitcoin Volatility - Comment From Ziglu

Date 21/01/2021

Following Bitcoin's volatility over the last 24 hours, Ziglu's Chief Growth Office, Yang Li commented:

"Whilst an instance of double spend would indeed be a worrying incident, from further investigation it is clear this is simply a blockchain reorganisation where two competing transactions were recorded but later bitcoin's blockchain did exactly as designed and self corrected so only one transaction was accepted.

It is interesting to note that even though there were rumours of such a fundamental flaw being triggered, bitcoin only fell by 11%. If this had happened in equities or another financial market, it would have likely had a significantly bigger drop. Imagine if the NASDAQ was rumoured to have sold the same stock multiple times?!"

Yang is available to speak about the implications for the retail community and the wider crypto-currency market. He's happy to talk in more detail over the phone, or on a video conference call.