Bitcoin rips and cruise ships: Bad crypto news of the week

Bitcoin finally burst through the $11,000 ceiling, and kept going.

Other analysts have identified five events that could move the markets this week, including the election's effect on the dollar, Europe's struggles with Brexit and the coronavirus, and Bitcoin's high hash rate.

The investment experts at Stone Ridge Asset Management have been paying attention.

After executives had made personal investments in cryptocurrencies, the company created a billion-dollar spinoff with a $115 million investment in Bitcoin.

The payments company has now put 1 percent of the company's assets-about $50 million-into Bitcoins.

The growth in crypto's popularity has led some people to speculate that crypto banks are likely to overtake fiat banks within the next three years.

In Italy, the banking system is trying hard to stay ahead. Some 100 banks there now use the blockchain network Spunta to speed up data transfers and settlements.

In China, the city of Shenzhen gave away $1.5 million worth of a digital currency controlled by the country's central bank, the People's Bank of China.

Elon Musk has denied that his Tesla Gigafactory has Bitcoin ATMs. In the world of DeFi, things are looking more fluid.

Every investment and trading move involves risk, you should conduct your own research when making a decision.