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The total market value of all Bitcoin currencies in circulation around the world has jumped to over $ 500 billion, after registering big gains over the Christmas holidays and over the weekend, and reaching all-time highs, surpassing the barrier of 28 thousand dollars, to have increased by more than 50% In a few days.
And the combined value of all Bitcoin in circulation around the world hit half a trillion dollars for the very first time, while continuing to record skyrocketing highs, making the Bitcoin market compete with the global giants in terms of market value, such as Apple, Facebook and Tesla.
According to a report by business website Asset Dash, seen by Al Arabiya.net, Bitcoin is now ranked eleventh among the world’s largest assets, behind giants such as Facebook, Apple, Walmart and Samsung. It also predated global company “Visa” on Sunday, making Bitcoin the world’s largest financial service after removing Visa from that throne.
In a single weekend day, bitcoin jumped almost 15% to $ 28,000. Bitcoin has risen almost 50% since the week before Christmas.
Bitcoin’s rise accelerated last week after a giant UK investment fund manager revealed it had bought $ 745 million worth of bitcoin, pushing digital currency, which pushed it to the above the $ 20,000 price point for the first time.
It comes as prominent Bitcoin investor Nigel Green, managing director of deVere, a financial advisory group, sold half of his holdings this week.
“I have sold half of my Bitcoins, hitting their highest level ever,” he said in an emailed statement. “Why? Because it should be treated now like any other investment – that is, whenever possible, it is better to sell at a high price and buy back when it dips.”
He added: “The continued gains in the price of bitcoin have made digital currency the top performing asset for 2020, with an increase of over 200%. As such, I felt the time was right. to make a profit. “
He said: “There should be no misunderstanding about my decision to sell. This is not due to a lack of confidence in Bitcoin or the concept of digital currencies, but rather to take profit now and buy later. . “
“Bitcoin” started the year 2020 at a price of $ 7 thousand a coin, as it moves towards its farewell to the year, which exceeds $ 25 thousand, which means it has made more than three times its profits in the current year alone.
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