Bitcoin Price Exceeds 50,000, Bitcoiners Prepare For New All-Time Highs

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Around midnight Sunday, the price of Bitcoin hit $ 50,000, the highest price seen since Bitcoin’s correction in May. After the decline, the price of Bitcoin hovered between 30,000 and 40,000 for most of the summer.

While it is impossible to say for sure, many predict that the price will appreciate significantly from here to close the year. Recall that just a year ago today, the price of Bitcoin was around $ 11,650.

In 2017, the price of Bitcoin rose from around $ 10,000 to $ 20,000 in eighteen days, reaching an all-time high. On Monday, investor Anthony Pompliano said CNBC, “It wouldn’t surprise me to see something crazy like this happen before the end of the year.”

Here’s a look at the increasingly bullish news from the past month that led to this exciting price milestone:

Your $ 1,200 stimulus check would be worth around $ 8,765 today if you had bought Bitcoin with it in April 2020.

On Thursday, it was discovered that in June, Blackrock, the world’s largest asset manager, had allocated more than $ 382 million to shares in Marathon Digital Holdings & Riot Blockchain, becoming the second-largest investor in both.

Coinbase announced Thursday that it has updated its investment policy to include a quarterly income allocation of 10% in Bitcoin and other cryptocurrencies and has also pledged to invest $ 500 million of its 4 billion Bitcoin reserves. and crypto.

Banking giants Wells Fargo and JPMorgan have both deposited passive Bitcoin funds for their high net worth clients.

Famous investor and fund manager Bill Miller said he has been buying Bitcoin since it only cost $ 200.

Galaxy Digital has filed a Bitcoin futures exchange-traded fund with the SEC under the Investment Companies Act of 1940.

Walmart is recruiting a “Digital Currency and Cryptocurrency Product Manager”.

Private investment firm Neuberger Berman adds Bitcoin futures to its $ 161 million commodity strategy fund.

Jordan Peterson posts a podcast episode on Bitcoin, becoming the latest public intellectual to share his thoughts.

Global investment manager VanEck has filed an exchange-traded fund for the Bitcoin strategy with the SEC for the second time.

Nevada-based Black Rock Petroleum Company has entered into an agreement with Optimum Mining Host to deploy and operate up to 1 million Bitcoin mining machines.

The US Senate has rejected a bipartisan amendment aimed at clarifying the tax reporting provisions required for brokers supporting the Bitcoin economy.

This month’s “Bloomberg Crypto Outlook” reports a bullish future trajectory for Bitcoin, stating “we are seeing performance parallels that could put the benchmark crypto back on track towards $ 100,000.”

One of the largest bitcoin mining companies in North America, Marathon Digital Holdings, Inc., has announced that it will purchase an additional 30,000 Antminer S19J Pros for $ 120.7 million.

In a new letter to shareholders, payments giant Square revealed that customers bought $ 2.72 billion worth of bitcoin in the second quarter of this year.

Bitcoin has been rising by around 120% per year on average over the past 10 years. Last year we had an annualized return of 250%.

With a long look to the future, venture capital firm Alyse Killeen predicted Monday in an interview with Business intern that, “In three or four years, most people will have access to Bitcoin by earning.”

On Friday, in a typically bullish and eloquent manner, MicroStrategy CEO Michael Saylor spoke on the Blockchain interviews podcast: “Bitcoin is one of the most, if not the most disruptive technologies of the decade, and it’s disrupting the energy industry, it disrupting the investment community, it disrupting the tech community. This means that it disrupts politics and the economy in general. This disrupts the definition of assets and property rights. So that being the case, it gets people’s attention and it’s gradual and it allows people to focus. So I think it was good for morale.

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