Bitcoin 'Frenzy' Breaks Through $52,000 Barrier

Surpassing $50,000 and Renewing Highs in One Day
Forecasts Suggest Rise to $100,000

On the 17th, when the cryptocurrency 'Bitcoin' price surpassed $50,000 for the first time in history, the Bitcoin price was displayed on a large electronic board set up at the Upbit Lounge in Gangnam-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Hyun-ui Cho] The virtual asset Bitcoin has surpassed $52,000 (approximately 57,972,574 KRW) for the first time ever. This comes just one day after breaking the $50,000 mark.

According to the US virtual asset exchange Coinbase, as of 9:21 AM KST on the 18th, Bitcoin is trading at $52,384 (approximately 57,905,274 KRW) per coin.

After dropping to the $48,000 range following the breakthrough of $50,000 the previous day, Bitcoin is continuing its upward trend toward a new all-time high. Surpassing the $52,000 level today, Bitcoin is also on the verge of breaking the $1 trillion market capitalization.

The recent surge began in earnest after Tesla CEO Elon Musk announced on the 8th that the company had purchased $1.5 billion worth of Bitcoin and would accept it as a new payment method. Starting with Tesla, Bitcoin has been recognized as a payment method and investment asset one after another, maintaining its record high.

The world's largest asset management firm, BlackRock, has also officially entered the Bitcoin market. Rick Rieder, BlackRock's Global Chief Investment Officer (CIO) of fixed income, appeared on CNBC on the 17th (local time) and stated, "We have started to dabble in it (Bitcoin)." Last month, BlackRock added Bitcoin futures as potential investment targets for two of its funds in documents submitted to the US Securities and Exchange Commission (SEC).

Other financial companies are also recognizing Bitcoin as a payment method one after another. Mastercard has decided to include virtual assets partially in its payment system, and BNY Mellon, the oldest bank in the US, plans to handle virtual assets such as Bitcoin within the year, CNBC reported. Major foreign media also reported that Morgan Stanley may add Bitcoin to its list of investable assets.

There are also forecasts that Bitcoin could rise to $100,000. Vikram Rangala, Chief Marketing Officer (CMO) of Indian virtual asset exchange Zebpay, said in an interview with Business Today, "Considering that individuals, institutions, and even governments are investing, Bitcoin will soon surpass $60,000, $70,000, and reach $100,000."

This content was produced with the assistance of AI translation services.