Bitcoin Creeps Back Above USD 10k; Byrne Crypto Move Sparks Intrigue

Anthony Pompliano Bitcoin Market

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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October 23, 2023 09:42 EDT

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Bitcoin is making a steady recovery, edging above the key USD 10,000 mark after dropping into the high USD 9,000s for most of September 19.

Source: iStock/PeskyMonkey

BTC prices returned to USD 10,000 at 16:35 UTC on September 19, stabilized, and then lept from just over 10,000 to almost USD 10,300 within the space of 10 minutes at 20:05 UTC, with a marked rise in trading volumes. The token is trading at just over USD 10,276 at the time of writing (23:00 UTC).

Bitcoin price chart:

Source: coinpaprika.com

A number of altcoins experienced slow but steady growth, with Ethereum prices around the USD 220 mark – for a growth rate of just over 4%.

And it was a busy end to September 19 on Twitter, too – with much of the cryptocurrency community speculating about the identity of the “two flavors” of cryptocurrency former Overstock CEO Patrick Byrne has decided to sink his USD 90 million fortune into.

The outspoken Byrne yesterday sold his stock in the company and then proceeded to post on his blog, stating that he “with the capital generated by the sale of [his] stock” he would invest in “gold, silver, and two flavors of crypto.”

Social media was – predictably – not short of comment on the matter, with some prominent figures claiming that Bitcoin was likely one of the aforementioned “flavors.”

Former Overstock CEO Patrick Byrne sold his stake in the company, nearly $90 million, over the last few days so he could put it all in gold, silver, and Bitcoin.

He’ll either be celebrated or ridiculed 10 years from now.

Big time players make big time plays.

— Pomp 🌪 (@APompliano) September 19, 2019

Some others, meanwhile, jokingly credited Byrne with sparking the BTC price rise.

That candle #btc just had was Patrick Byrne buying. Tnx buddy. pic.twitter.com/lWsbv81pPd

— Shooter 7chains McGavin (@getderb) September 19, 2019

The former Overstock man had previously filed with the regulatory Securities and Exchanges Commission in the United States, informing the authority of the sale of his shares.

In his post, he lashed out at the “Deep State” – saying he knew enough about it to “fry it to ashes.” Byrne stepped down from his role as CEO back in August.