I’ll admit it. When I woke up in the middle of the night last week to a flurry of notifications that Bitcoin had surged 23%, to over $5,000, in a matter of an hour, I was skeptical.
I scanned Twitter. The first thing I saw was a tweet from the CEO of one of the world’s largest crypto exchanges, Binance, proclaiming himself “honestly clueless.” CZ, who was arguably in the best position to know what was going on, asked his followers, “Anyone know any news?”
The next thing I noticed: An account, @BTCWonderland, noting that there was a “rumour spreading on Chinese social media” that “the SEC is going to pass Bitcoin ETF.”
In that tweet, which featured a screenshot of a WeChat discussion (translated by my colleague Lucinda Shen), someone named Aaron says, “Just received the newest reliable news. The U.S. SEC has just approved a Bitcoin ETF [clapping face emojis]…Last month I just added more leverage to buy up BTC (victory signs). This is…