Bitcoin News Roundup for Aug. 11, 2020

With bitcoin increasingly acting like gold and one company betting a quarter of a billion dollars on BTC, CoinDesk's Markets Daily is back for your news roundup!

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Today's stories:

Bitcoin Rally Stalls as Increasingly Correlated Gold Drops Below $2K

Bitcoin is increasingly taking cues from gold, a tried-and-tested store of value asset.

MicroStrategy Buys $250M in Bitcoin, Calling the Crypto 'Superior to Cash'

Digital gold is now the "principal holding" of MicroStrategy's revamped treasury reserve strategy.

After Tumultuous Election, Belarus Goes Offline

Internet is down in Belarus as people are protesting the results of presidential election

Blockchain to Play 'Essential Role' in Farming Supply Chains, Says US Government

An agency attached to the U.S. Department of Agriculture said it expects blockchain will play an important role in the sector's supply chains.