Bitcoin is up more than 70% this year

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Photo: via pintrest

Bitcoin broke a new barrier this Tuesday when it exceeded the US $ 50,000 for the first time and has already accumulated a rise of more than 70% in its price so far this year.

The cryptocurrency reached a price of US $ 50,191 in the morning and is up 73% so far this year, according to the Bloomberg agency.

After ending last year with a 170% rise in the fourth quarter to $ 29,000, Bitcoin jumped to $ 40,000 seven days later.

Tesla's announcement that it added 1.5 billion in Bitcoin to its balance sheet was the most visible recent boost, sending the price up 16% on February 8, the biggest gain in a day since the pandemic began.

Likewise, optimism grew after Mastercard and Bank of New York Mellon moved to make it easier for customers to use cryptocurrencies, while Bloomberg reported Saturday that Morgan Stanley could add Bitcoin to its list of possible bets.

The 400% rebound over the past year comes in a context of near-zero interest rates from central banks, and unprecedented stimulus from governments in the wake of the coronavirus pandemic.

Antoni Trenchev, managing partner and co-founder of Nexo in London, one of the largest cryptocurrency lenders, warned that investors should be prepared for a drop after the latest milestone.

Publish : 2021-02-17 01:35:00

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