Bitcoin (BTC), the world’s largest cryptocurrency, has crossed $30,000 for the first time, reaching $32,279 with a gain of nearly up to 10% in last 24 hours
On Jan 1, 2021 Bitcoin was at just $6,965 so technically BTC has gained 4x in value during the whole year and it doesn’t look like it will stop anytime. If you just look at December the cryptocurrency had almost 50% in gain with starting at $19,226 on Dec 1, 2020 and now it has crossed the $30,000 mark.
Below you will find more insights on this price hike as reported by Yahoo! Finance:
- The market value of bitcoin jumped as well. With a market value of $569.1 billion, BTC is now more valuable than all but nine publicly traded companies, sitting between Alibaba at $648.3 billion and Berkshire Hathaway at $543.7 billion.
- According to Antoni or Nexo (self claimed world’s biggest crypto lender) the currency is on road to cross $50,000 probably in the first quarter of 2021 and this will happen because institutional investors returning to their desks this week will likely boost prices further after retail buying over the holidays.
- Its hard to forget that Warren Buffett, one of the most legendary investors once famously derided bitcoin as “probably rat poison squared.”
Here’s a video of Warren Buffet commenting on Bitcoin’s value and its funny to look at this right here right now when BTC has crossed $30K
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