Cryptonics rose sharply, reaching more than $50,000 each on Wednesday 17 February. Many investors are rubbing their hands.
Published on 17/02/2021 11:14
Last Updated on 17/02/2021 15:53
The price of bitcoin soared on Tuesday 16 February to over $51,000 per unit, its highest level since its creation in 2008 by anonymous investors. Since the beginning of 2021 alone, the cryptomonnaie is growing by more than 70% thanks to the investments of large companies such as Tesla. The American car manufacturer has invested 1.5 billion dollars in bitcoin.
The value of a unit of Bitcoin stands at more than $51,000 as of February 17, 2021. (GOOGLE SCREENSHOT)
« I put in 2,000 euros and very soon I’d earned the equivalent of my money, » says Antoine, a 40-year-old musician who’d gone into carpentry because of the pandemic. At the beginning of January, he took the « risky gamble » of investing part of a donation from his grandparents received at Christmas. Faced with the success of the operation, he has since reiterated. « When you’ve been in Bitcoin for a month and a half, it can be a bit addictive. So I’ve been injecting Bitcoin twice. All in all, I invested 10,000 euros, » says Antoine, who now finds himself in possession of 0.4 Bitcoin, or 17,000 euros. « It’s crazy.
« I think I’m very lucky, I benefited from the second Bitcoin boom. »
While Bitcoin is experiencing strong growth, the market is still considered volatile. By 2017, the bubble had burst and within days, the price of Bitcoin had risen from nearly $20,000 to $9,000 and reached $3,200 by the end of 2018.
This time, however, the fundamentals appear to be more solid, as the rise in price is supported more by institutional than individual investors. In addition to Tesla, other banking and financial groups have been betting on Bitcoin. « There is euphoria, » says Adli Takkal Bataille, Bitcoin consultant for companies and president of the association le Cercle du coin, dedicated to cryptomonnaies. According to him, however, it is still difficult to see clearly into the future of Bitcoin.
« Is Bitcoin going through its last cycle before linear growth? Or is it still just a cycle on its life of innovation, » asks Adli Takkal Bataille. This second hypothesis would again imply « a spike and a massive correction » in the value of the cryptomony.
The Bitcoin boom: listen to the report by Benjamin Illy