Cryptomoney. Bitcoin exceeds $50,000 for the first time…

Cryptomoney. Bitcoin exceeds $50,000 for the first time...

The value of Bitcoin rose Tuesday to an all-time high of $50,547.70.

Ouest-France

with AFP

Published on 16/02/2021 at 2:17 pm

The price of Bitcoin crossed the $50,000 mark on Tuesday, February 16, 2021, a first for the record-breaking cryptomoney industry, galvanized by the interest of major banks and companies like Tesla.

At around 1:35 p.m., Bitcoin rose to an all-time high of $50,547.70.

It then fell back to cost $49,505.35 at 13:55 GMT, up 2.7% for the session and more than 70% year-to-date.

The value of Bitcoin has increased fivefold in one year.

The value of Bitcoin has increased fivefold in one year.

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 created a surprise by announcing 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.

Traditional banking groups are interested in Bitcoin now

Traditional banking groups are interested in Bitcoin now

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.

Cryptomoney. Bitcoin exceeds $50,000 for the first timeWest-France.fr

Cryptomoney. Bitcoin exceeds $50,000 for the first time…
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