Bitcoin reached $ 50,000 as the world’s leading digital currency expanded its gains in 2021
On Tuesday, bitcoin prices reached a psychologically significant level above the $ 50,000 of the world’s leading digital currency.
The move lifted the world’s №1 digital asset viralonline4u to a new high of $ 50,584.85, according to CoinDesk, adding to its ongoing push to all-time highs with increased interest and increased institutional investment in digital currencies providing a good track record. . For the virtual market.
Bitcoin pushed BTCUSD, with 0.73% higher momentum to an annual gain of over 64%, compared to a gain of 2.8% for the DJIA, + 0.00%, a 4.8% advance for the S&P 500 SPX, -0.19% and a 9.4% rise in the Nasdaq. viralonline4u COMP, + 0.07% so far in 2021.
Although there is no specific news to help broaden Bitcoin’s gains, the rally comes as the asset appears to be gaining traction and mounting interest among the traditional investment community.
Over the weekend, Bloomberg News reported, citing familiar people, that Morgan Stanley MS, + 1.56% investment management unit, viralonline4u Counterpoint Global, was exploring purchasing cryptocurrencies for its investors.
The report comes after the Wall Street Journal said earlier last week that New York Mellon BK + 0.33% will hold, viralonline4u convert and issue bitcoin and other cryptocurrencies on behalf of their clients.
Digital assets have become part of the mainstream, Roman Rigelman, CEO of BNY Mellon Digital Assets and Business Service, was quoted by The Wall Street Journal.
Moreover, Mastercard MA said last Wednesday that -1.56% will support some cryptocurrencies on its network later this year, and Tesla Inc bought TSLA, at -0.77%, $ 1.5 billion in bitcoin and will eventually allow customers to use the currency. viralonline4u Encrypted purchases for their products.
PayPal Holdings Inc. PYPL, down -1.34% in November, viralonline4u is the cryptocurrency platform for all US customers following a narrower offer.
Several notable Wall Street investors, including Stanley Druckenmiller and Paul Tudor Jones, have also adopted Bitcoin. Popular investor Bill Miller, founder of Miller Value Partners, in a recent letter to clients, viralonline4u confirmed his bullish outlook on Bitcoin.
Certainly, recent developments do not guarantee a steady rise in Bitcoin and other cryptocurrencies. viralonline4u In late 2017, the price of Bitcoin, which approached $ 20,000, led to an epic meltdown, dropping to nearly $ 3,000 before bouncing years later.
Rising investors also note that additional gains for the asset may be contingent on help from regulators in putting in place clear investor safeguards and rules for using cryptocurrencies, viralonline4u which are sometimes seen as a tool for fraudsters rather than as a medium of exchange and storing value like GC00 Gold, + 0.32%.
