Bitcoin is the number one digital asset and has maintained that spot for years. Naturally, there’s a lot of news and information about its price swings, making it easy to miss swings in other assets. Yesterday, Bitcoin crossed the $8,600 and surged close to $8,900 before dropping to $8,750. At press time, Bitcoin has jumped again and is seating at $8,829 and trading in green. In all that excitement, Bitcoin SV’s (BSV) swing has somewhat gone unnoticed.
Even though it’s currently trading in red at $328.17, the BSV community has to be smiling to the bank. The Bitcoin Cash (BCH) hard fork already pulled in 300% in year-to-date (YTD) returns. At its peak in the early hours of today, BSV was trading over $441, hitting a new all-time high.
At the moment both BCH and BSV are in close completion for the number 4 spot, with BSV currently the 5th largest crypto in the market.
While there is no conclusive evidence, BSV’s sudden surge could be traced to recent news about leader Craig Wright. Unconfirmed stories have it that Wright is now in possession of the private keys to the popular Tulip Trust.
The Tulip Trust is at the center of a long-running legal battle between Wight and the Kleiman estate over the real owner of the funds. The Trust is said to be worth 1.1 million Bitcoin, currently over $9.7 billion.