Other noteworthy news includes PayPal users trading more than $300 million in Bitcoin in one day — a record for the company, while MicroStrategy is borrowing $500 million through a debt issuance to buy yet more Bitcoin. Impressively, the company received over $1.6 billion in orders in less than 24 hours, including interest from a large number of hedge funds, illustrating the continued attractiveness of Bitcoin to institutions. Positively, India’s tough stance on Bitcoin seems to be subsiding with the New Indian Express reporting that the government may be dropping its earlier plans for “a blanket Bitcoin ban in favor of classifying cryptocurrencies as an alternative asset class”. The news was not all positive, however, with the Chinese rumour mill running wild about the implication of the ongoing government clampdown on coal-fed mining operations.
