Twitter boss Jack Dorsey just announced a new bitcoin business

Bitcoin might be in a prolonged slump that’s terrifying some investors. But the world’s most prominent cryptocurrency is still trading above $31,000 as of Friday morning. That might be less than half the $64,000 all-time-high price from mid-April, but it’s still well over the $20,000 highs from a few years ago. Despite the massive price swings, there’s enormous interest in bitcoin and all cryptocurrencies. It’s not just retail investors that have been pouring money into digital coins this year. More institutions made significant investments in the past few months, despite the volatility. While China continues to clamp down on virtual currencies, attempting to regulate the landscape, others want to offer new blockchain services. One of them is Twitter and Square CEO Jack Dorsey, who just made the news with his new bitcoin-focused company.