"Thanks to Tesla?" Bitcoin Price Surpasses $50,000 for the First Time Ever
[Asia Economy Reporter Seolgina Jo] The price of the virtual currency Bitcoin surpassed $50,000 for the first time ever on the 16th (local time).
The economic media CNBC reported that at 7:32 a.m. Eastern Time on that day, the price of Bitcoin rose more than 3% to reach an all-time high of $50,389.
This is a result of major companies such as Tesla and Mastercard recently adopting Bitcoin. Earlier, Tesla CEO Elon Musk purchased $1.5 billion worth of Bitcoin, followed by Mastercard's decision to partially include virtual currency in its payment system. PayPal, BNY Mellon, and others also showed movements to support virtual currencies.
As companies move, it is evaluated that the belief among investors that this Bitcoin boom is different from the past has grown. CNBC reported that while Bitcoin enthusiasts viewed the 2017 Bitcoin boom as speculative, the recent cycle is driven by demand from institutional investors.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- [Breaking] Samsung Electronics Union: "Mediation Ends Due to Management's Rejection... General Strike Tomorrow"
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- Bull Market End Signal? Securities Firm Warns: "Sell SK hynix 'At This Moment'"
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
Michael Saylor, CEO of enterprise software company MicroStrategy, stated, "Today, Bitcoin is a much more stable asset than it was three years ago," and added, "This trend will continue in 2021."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
