Bitcoin exceeds $50,000 for the first time.

Bitcoin exceeds $50,000 for the first time.

Cryptomony that keeps breaking records. Galvanized by the interest of big banks and companies like
Tesla, the
Bitcoin crossed the $50,000 mark for the first time on Tuesday.

Bitcoin rose to $50,547.70, a historic level, on Tuesday at around 12:35 GMT (13:35 in Paris). It then fell back to $49,505.35 at around 12:55 GMT, an increase of more than 70% since the beginning of the year.

Tesla invested $1.5 billion of its cash flow in bitcoin

Tesla invested $1.5 billion of its cash flow in bitcoin

After a dizzying performance in 2020, bitcoin has seen its value increase fivefold in the last year. But while some market observers are wary of the volatility of this decentralized, asset-less market, others believe that the situation is very different from 2017, when prices had climbed with the same enthusiasm before crashing in early 2018.

« A growing business interest in crypto-currency has transformed the market compared to 2017, » said Neil Wilson, Markets.com analyst. Last week, electric car maker Tesla surprised the market by announcing that it would be « a major player in the market ».
that it had invested $1.5 billion of its cash in Bitcoin. Tesla’s boss and the world’s richest man, Elon Musk, doesn’t hesitate to extol the merits of cryptomoney on social networks.

A market that is not unanimous

On Tuesday, the MicroStrategy Group, a mid-size US software company that in late 2020 made a massive investment in Bitcoin, to allow Wall Street investors to bet on cryptography by buying their shares, announced a $600 million fund raising « to buy Bitcoin ».

In addition, banking and financial groups are increasingly interested in Bitcoin: the oldest bank on Wall Street, BNY Mellon and MasterCard succeeded last week to the giant BlackRock or the payment service Paypal, which all announced new projects on cryptosystems in recent months. However, there is no unanimity on the cryptomoney market: several central bankers, such as Andrew Bailey in the UK, have dismissed the idea of considering Bitcoin as a currency in its own right, or even as a « digital gold » that would be used to preserve wealth.

Bitcoin exceeds $50,000 for the first time.
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