Bitcoin nears ATH while Sam Bankman-Fried advises prison guards to buy Solana

Bitcoin went very fast again yesterday and the highest point reached in the past 24 hours was $64,000. The all-time high of $69,000 is of course very close. At the time of writing, the largest digital currency is trading for $62,900.

JUST IN: $64,000 #Bitcoin 🚀 pic.twitter.com/5di356MMXS

— Bitcoin Magazine (@BitcoinMagazine) February 28, 2024

There is also news from the New York prison where SBF is awaiting his sentence. Since a crypto rally is underway, prison guards ask one of their best-known prisoners for investment advice. Apparently SBF still thinks Solana is very worthy of purchase.

Fraud

Just one more month and Sam Bankman-Fried, the former founder and CEO of the major crypto platform FTX, will know how long he’ll have to remain in prison. His team of lawyers aims for 6 years while the prosecuting team goes for the full 30.

Sam was convicted of fraud by a judge in New York in early November of last year, after which investors in the United States started a mind-blowing crypto rally. Analysts assume that SBF’s conviction signaled something of a new beginning for American investors, one in which crypto was once again deemed acceptable and safe as an investment class.

Sam Bankman-Fried is giving financial advice in jail.

He’s telling guards to invest in Solana, per NYT. pic.twitter.com/j9BnGtWqrr

— Milk Road (@MilkRoadDaily) February 27, 2024

So now that SBF is in jail, a new crypto rally is ongoing. While Bitcoin is trading near its All Time High again, many small crypto coins are advancing by tens of percentage points per day.

The prison guards, who naturally want to earn some extra money, therefore ask SBF for crypto tips. According to reporting in the New York Times, Sam’s favorite is still the same as it was back in 2021: Solana.

That digital currency rose by 18% in the past week.