The price of one unit of digital currency bitcoin crossed 50 thousand dollars. This year, the price of this cryptocurrency has soared 73 percent so far. A year ago, a unit of bitcoin cost 10 thousand dollars. Significantly, the price of bitcoin has risen 200 percent in the last three months.
Bitcoin, the world’s largest cryptocurrency, broke all records in terms of price on Tuesday. Actually, Bitcoin crossed the figure of $ 50,000 (about Rs. 36 lakh) for the first time on Tuesday. At the same time, apart from electric car company Tesla, the prices are increasing every day due to the approval of Bitcoin by many other companies as digital currency.
Bitcoin has set a record of 50,603 dollars (about 37 lakh rupees). It was up 0.83 percent to 48,351 (about Rs 35.2 lakh). Let us know that so far this year, the price of bitcoin has increased by 73 percent. It is worth mentioning that since its inception in 2009, this is the first time in the history so far when the price of 1 bitcoin has crossed 50 thousand dollars.
Reason for bitcoin boom
Significantly, the acceptance of bitcoin has increased greatly in the whole world, that is why people are now investing heavily in this digital currency. At the same time, multinational companies like Apple and Tesla are also investing in bitcoin. Last week, Tesla, the company of the world’s richest man Elon Musk, made a big investment of $ 1.5 billion in bitcoin. At the same time, many big insurance companies like mass-mutual, asset manager Galaxy Digital Holding, payment company Square have also invested heavily in bitcoin, due to which its price has reached the highest level.
What is bitcoin
Bitcoin is a virtual currency, virtual means that it has no physical form like other currency. It is a digital currency.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.