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For the first time, the price of bitcoin has just surpassed $50,000 and is of interest to Wall Street, after having been the focus of interest of major banks, companies such as Tesla, as well as investors particularly attracted by risk.
On Tuesday, February 16, around 12:35 GMT (13:35 in Paris), Bitcoin follows a memorable course! It went up to $50,547.70 and then went down to $49,130.50 at 13:35 GMT.
The value of Bitcoin increases fivefold in one year.
An increase of 1.9% for the session and nearly 70% since the beginning of the year. With more than 18.6 million Bitcoins issued since its creation and after a performance worthy of the name, Bitcoin has seen its value increase fivefold in one year.
On the one hand, some market observers are wary of the volatility of this decentralized and asset-free market. On the other hand, optimists believe that the situation is very different from 2017 when prices rose even more sharply before crashing in early 2018.
Neil Wildon, an analyst at Markets.com comments, “Increasing business interest in crypto money has transformed the market compared to 2017.
So while the world’s richest man, Elon Musk, continues to extol the merits of encryption on social networks, Tesla goes so far as to surprise everyone by revealing his $1.5 billion investment in Bitcoins.
Towards a “Democratization”?
On Tuesday, the MicroStrategy Group, a mid-size US software company that has bet on massive investment in Bitcoin, also announced a $600 million fundraiser “to buy Bitcoins”. Indeed, the underlying motivation for this massive investment is to allow Wall Street investors to bet on cryptography by buying their shares.
And on the other hand, very good news for Bitcoin, which is attracting more and more attention from banking and financial groups: after the giant BlackRock, a US multinational company specialized in asset management, and the payment service provider PayPal announced the arrival of new projects on crypto money in recent months; the oldest Wall Street bank BNY Mellon and MasterCard followed the example last week, also investing in Bitcoin.
Read Also > ACCORDING TO GUGGENHEIM, INSTITUTIONAL DEMAND WOULD BE INSUFFICIENT TO KEEP BITCOIN ABOVE $30,000
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