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- 1 PayBito plans to expand its workforce by 50%, aiming to capture the Dubai and Singapore markets.
- 2 “The surge is an early Christmas gift for Bitcoin maximalists”— Raj Chowdhury.
- 3 Bitcoin (BTC) prices grew over 16% in the monthly time frame and above 60% in a quarter.
In the past few months, the crypto market has outperformed and a majority of cryptocurrencies gained a significant portion. On the other hand, crypto-based firms are increasing their workforces.
PayBito, a Singapore-based centralized cryptocurrency exchange has stated its beliefs that it is planning to add 50% more employees to its workforce to strengthen its operations in Singapore and Dubai.
As per the available data on the Crunchbase website, PayBito was acquired by HashCash Consultants on February 10 2018 at an undisclosed amount. Other than PayBito, Hashcash has acquired Blockchain 1o1 in 2017 and BillBitcoins.
For the past two years, a major shift of crypto hubs has been seen towards Singapore and Dubai, to lure investors and companies. These two regions have closely worked on the regulations and have made the process easy and clear.
However, in the list of developing crypto hubs, Hong Kong is competing closely with other nations. Over 20 leading crypto companies have already registered themself with the regulators of Hong- Kong.
‘Christmas Comes Early for Traders’- PayBito CEO
In the past couple of months, Bitcoin (BTC) the pioneer of cryptocurrencies has shown unprecedented growth in terms of price and when writing it was trading at $43,487.09.
Following the continuous surge of BTC, Raj Chowdhury, the chief executive officer of PayBito said “ The surge is an early Christmas gift for Bitcoin maximalists”. His statement came soon after Bitcoin prices broke $40k resistance and was hovering around $42.
Chowdhury said “2023 was about preparing for the forthcoming bull run. Optimism is high for 2024 and beyond. As speculation wanes, true innovators can now shift focus from a digital trading frenzy to harnessing Bitcoin’s potential for real-world impact.”
Some data aggregators state that BTC holders have withdrawn 37,000 Bitcoins in a short period following the continuous surge. There are several claims about Bitcoin’s surging price, one of them is “ The race of registering and securing approval to function as a Bitcoin ETF.”
In conclusion, the chief executive officer said “ This remarkable surge is not just a financial milestone but a profound Christmas gift for traders worldwide.” Chowdhury is known for his enthusiasm towards the crypto market.
TradingView data states that the Bitcoin (BTC) price grew over 16.20% in a month and a surge of 63.19% has been seen in the past three months. The market capitalization of BTC was also trying to cross $853.592 Billion.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
