Gemini admits mistake after Bitcoin alert mishap

Gemini, a cryptocurrency exchange, issued an erroneous price alert claiming Bitcoin had exceeded $110,000, when in fact, the all-time high was $93,000 following Donald Trump’s election victory.

MicroStrategy now holds 244,800 bitcoins, worth roughly $9.45 billion, after recent large-scale purchases.

Crypto exchange Gemini mistakenly issued a price alert on Wednesday claiming Bitcoin had surpassed $110,000. The exchange later apologised, explaining that the notification was caused by a technical error. In reality, Bitcoin had reached an all-time high of $93,000, fuelled by optimism surrounding Donald Trump’s election victory.

Gemini faced backlash from users confused by the false alert, with some speculating that it may have been triggered prematurely by an employee or a misconfigured system. The exchange reassured users that such mistakes are rare and promised to prevent similar incidents in future.

Errors like these are not uncommon in the crypto industry. Exchanges, including Binance and Coinbase, have previously reported incorrect price displays due to glitches or faulty data. While these mistakes are usually resolved quickly, they can still cause significant disruption for traders relying on real-time information.