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Bitcoin soared above the psychological boundary

What happened again in 2017 and 2020: the price of bitcoin again exceeded the dream limit. Three years ago, it rose above $ 10,000, then last year it crushed $ 20,000, and now the astonishing $ 50,000 psychological limit has been exceeded by the digital currency, often sown as a bubble. Bitcoin has always been able to recover from a number of such cycles over the last ten years, after falling from a peak of more than 80 per cent, in a relatively short period of time.

The total market capitalization of bitcoin – all the total value of the coin mined – it was also close to $ 1 trillion, with CoinGeck cryptocurrency price tracker currently saying more than $ 916 billion.

Despite the fact that its price has risen steadily in recent years, bitcoin is still highly volatile. Although for a short time, it hit $ 50,689 on the popular Binance crypto stock market, and it plummeted quickly.

Bitcoin has been particularly strong since Tesla announced it had invested $ 1.5 billion in cryptodevisa. This was followed by a jump of nearly 20 percent, rising from $ 38,000 to $ 46,000 in a single day, and the rally doesn’t seem to be over yet.

The latest price increase is certainly announced by a listed business intelligence company. caused. MicroStrategy offers $ 600 million worth of convertible senior bonds, the proceeds of which will be used to acquire additional bitcoins

MicroStrategy was the first large company to invest a significant amount in bitcoin; the company has so far bought more than $ 1 billion in cryptocurrency money. According to CEO Michael Saylor, investing in BTC is an important part of their new capital allocation strategy, better than cash in the long run.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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