The price of the digital currency crossed the $ 50,000 threshold yesterday, for the first time, while this currency continues to rise, driven by the investment of major banks and companies such as Tesla.
The price of Bitcoin reached 50 thousand and 547.70 dollars, a record rate before it retreated to 49 thousand and 505.35 dollars, up 2.7% during one session and by more than 70% since the beginning of the year. After performing well in 2020, Bitcoin’s price quadrupled in a year.
While some observers in the market fear the fluctuation of the price of Bitcoin, which is not based on any assets, others believe that the situation is different from what it was in 2017, when Bitcoin prices jumped dramatically before collapsing in early 2018. The analyst at Markets.com said. Neil Wilson: “There is more and more significant interest in the business world in virtual currencies that has shifted the market a lot compared to 2017.”
Last week, the electric car manufacturer Tesla raised a surprise by investing $ 1.5 billion in Bitcoin. Tesla’s director and the world’s richest man, Elon Musk, does not hesitate to praise the features of virtual currencies on social media.
On Tuesday, the US medium-sized software publisher, MicroStrategy, which invested in late 2020 in Bitcoin to allow Wall Street investors to bet on the virtual currency by buying their shares, announced that it had raised $ 600 million to “buy Bitcoin.” Banking and financial groups are becoming more and more interested in Bitcoin.
The oldest bank on Wall Street, BNY Mellon and MasterCard announced last week new projects in virtual currencies launched in recent months, as did BlackRock and PayPal. But the virtual currency market is not unanimous. Many central bank rulers in the world, such as Andrew Bailey in the United Kingdom, have dismissed the idea of considering creating a separate currency by itself or even considering it as “digital gold” that contributes to preserving wealth.
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