Bitcoin passes the $50,000 mark for the first time.

Bitcoin passes the $50,000 mark for the first time.

Cryptonics has been galvanized by the interest of investors, particularly Tesla.

The price of Bitcoin crossed the $50,000 mark on Tuesday, a first for the record-breaking cryptoney industry, galvanized by the interest of major banks and companies like Tesla.

Also read :Euro rises a little against the dollar, Bitcoin at a new high

At around 12:35 GMT (13:35 in Paris), Bitcoin rose to an all-time high of $50,547.70. It then fell back to cost $49,505.35 at 12:55 GMT, up 2.7% over the session and more than 70% since the start of the year. After a dizzying performance in 2020, Bitcoin has seen its value increase fivefold over the past year.

But while some market observers are wary of the volatility of this decentralized market, which is not based on any assets, others believe that the situation is quite different from 2017, when prices had climbed with the same enthusiasm before crashing in early 2018. « Increasing business interest in cryptomoney has transformed the market compared to 2017, » said Neil Wilson, analyst at Markets.com.

Also read:Elon Musk’s #Bitcoin on Twitter is making cryptography go wild

A controversial deal

A controversial deal

Last week, the electric car manufacturer Tesla created a surprise by announcing that it had invested $1.5 billion of its cash in bitcoin. Tesla’s boss and the richest man in the world, Elon Musk, does not hesitate to praise the merits of cryptomoney on social networks. On Tuesday, the MicroStrategy Group, a mid-size US software company that in late 2020 bet massively on investing 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: last week, Wall Street’s oldest bank BNY Mellon and MasterCard succeeded the giant BlackRock or the payment service Paypal, which have all announced new projects on cryptosystems in recent months.

Also read :BlackRock giant assumes its new interest in Bitcoin

However, there is no unanimity on the market for cryptomoney: several central bankers, such as Andrew Bailey in the UK, have rejected the idea of considering Bitcoin as a currency in its own right, or even as « digital gold » to be used to preserve wealth.

SEE ALSO – Bitcoin, Libra: should we invest in cryptomoney? (19/11/2019)

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Bitcoin passes the $50,000 mark for the first time.
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