Bitcoin (BTC) Price Recovers to $66,000 as IT Outage Affects Microsoft’s Cloud Computing Service

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

Bitcoin price has shown serious resilience to the weeks of selling pressure which saw its price hit a low of $53, 500 on July 5 to trade at $66,000 at the time of writing.

Bitcoin price continues its resurgence as major institutions around the world battle with a major Information Technology (IT) downtime affecting Microsoft’s cloud computing service.

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

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George Kurtz, the CEO of Crowdstrike, a Cybersecurity firm gave his two cents about the global IT outage with a post shared on his Twitter 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 experience residual impact.

Bitcoin price remaining largely unaffected by the global IT outage drew some admiration from respected figures.

United States Senator Cynthia Lummis took to Twitter to announce her admiration for Bitcoin’s resilience 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.