Bitcoin breaks two magical boundaries in a crazy weekend!
The digital currency Bitcoin is still on the rise. This weekend, boundaries were again broken and records shattered.
Many old men with old money said that Bitcoin will not work, this weekend the opposite was proven again. The digital currency tapped a record amount of over $ 60,000 last Saturday. After reaching the record the price collapsed. At the time of writing, the rate is now around $ 56,000.
Crazy weekend: Bitcoin breaks boundaries
It was a historic weekend at Bitcoin. It is the first time that the currency has risen above $ 60,000. In addition, a special limit was reached, at least for us here in Europe. Because, the crypto coin here was worth more than 50,000 euros. That has never happened before and the value of the crypto coin is now more than 1,000 billion dollars!
Reuters think the decline is due to a report from India. There they would think about banning the digital currency. Earlier this year, there were many positive messages: Elon Musk invested a lot of money in the coin with Tesla and Jack Dorsey of Twitter also recommended buying the coins.
Incentive package
By 2021, Bitcoin will more than double, after quadrupling it from the year before. Bitcoin has been breaking borders for a long time. The tremendous value the currency tapped over the weekend was partly due to President Biden’s fiscal stimulus package. It was well received in all financial markets. The package has a budget of $ 1.9 trillion and orders an acceleration of vaccinations against the coronavirus. The president made it legal this past weekend by putting his signature on it.
However, America’s new Secretary of the Treasury also has reservations. Janet Yellen recently said that ‘the price of bitcoin can be extremely volatile. I am concerned about possible losses that bitcoin investors could suffer. ” She concluded that Bitcoin is an extremely inefficient way to conduct transactions and that the currency is mainly used for unauthorized transactions. Such as money laundering.
Nevertheless, many people have left a particularly pleasant feeling on the rise this weekend. On to the next record.
