Bitcoin Price Surges To $66,000 Amid Global IT Downtime

Bitcoin price has seriously recovered from weeks of facing selling pressure which saw its price drop to as low as $53, 500 on July 5 to hit the $66,000 mark at the time of writing this report.

Bitcoin resurgence continues unabated as major institutions worldwide battle with a major Information Technology (IT) downtime affecting Microsoft’s cloud computing service.

Bitcoin price was unaffected by the Global IT outage which left major airlines, medical facilities, corporations, and police forces stranded as their daily operations were hindered by the global IT outage.

George Kutrz, the CEO of Crowdstrike, a Cybersecurity firm gave its two cents about the global IT outage with a post shared on his X page.

“CrowdStrike is actively working with customers impacted by a defect found in a single content update for Windows hosts. Mac and Linux hosts are not impacted. This is not a security incident or cyberattack. The issue has been identified, and isolated and a fix has been deployed.

We refer customers to the support portal for the latest updates and will continue to provide complete and continuous updates on our website. We further recommend organizations ensure they’re communicating with CrowdStrike representatives through official channels. Our team is fully mobilized to ensure the security and stability of CrowdStrike customers.

Today was not a security or cyber incident. Our customers remain fully protected. We understand the gravity of the situation and are deeply sorry for the inconvenience and disruption.

We are working with all impacted customers to ensure that systems are back up and they can deliver the services their customers are counting on. As noted earlier, the issue has been identified and a fix has been deployed. There was an issue with a Falcon content update for Windows Hosts” George posted

Microsoft responding to the outage announced the recovery of its 365 apps and services although according to them some individuals might still face residual impact.

Bitcoin price remains unaffected by the global IT outage drawing some admiration from respected persons.

United States Senator Cynthia Lumis took to X to announce her admiration for the resilience of Bitcoin amid such technological turmoil.

“Do you know what form of currency hasn’t been affected by widespread cyber outages? Bitcoin. Vires in Numeris” She tweeted

Bitcoin at $66,000 represents a 4.0% increase in price value in the last 24 hours according to CoinGecko data.

What To Know

• The possibility of using Bitcoin as a strategic reserve asset in the United States is gathering steam. The anticipation was further fueled by Donald Trump’s proposed appearance at the Bitcoin conference slated to be held in Nashville on July 27.
• Bitcoin price has recovered from the massive selling pressure heaped on it by the German government selling approximately 50,000 BTC it seized from Movie Piracy Movie 2k.