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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 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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