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Bitcoin Rebounds From Lows; MicroStrategy Purchases More Tokens

  • Digital asset had slipped amid wider financial markets selloff
  • Crypto faithful still see role for Bitcoin as cash alternative
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WATCH: Binance CEO Changpeng “CZ” Zhao says he’s seeing “much higher uptake on institutional adoption.”Source: Bloomberg
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Bitcoin rebounded from earlier losses amid a broader recovery in risk assets after a report showed the U.S. added more jobs than forecast last month. MicroStrategy Inc. bought more of the world’s largest cryptocurrency.

The digital asset shed as much as 3.4% on Friday before trading little changed at about $48,150 as of 9:02 a.m. in New York. The Bloomberg Galaxy Crypto Index, which includes Bitcoin and four other tokens, slipped more than 4.7% before turning little changed.