[ad_1]
Bitcoin hit an all-time high after Tesla said it had invested $ 1.5 billion and would start accepting cryptocurrency as a payment method.
Prices jumped to levels of $ 45,000 during Monday’s trading in London.
The jumps came after Tesla announced it would accept Bitcoin as part of an update to its investment policy, according to one of the documents.
This is another sign that cryptocurrency is gaining popularity as a type of investment.
Enthusiasts often tout the digital asset as a hedge against inflation and a store of value in a world awash with incentives and money printing from a rampant central bank.
“If the interest of institutions and businesses continues to grow over the next month, Bitcoin could target the $ 45,000 level,” said Edward Moya, chief market analyst at Oanda Corp.
Elon Musk’s remorse
Tesla CEO Elon Musk confirmed a few days ago that he is a supporter of the Bitcoin cryptocurrency.
“A lot of my friends have been trying to convince me to get into Bitcoin for a long time,” Musk said.
He explained that he had already eaten a slice of a “bitcoin cake” that a friend gave him in 2013, and that “it is clear that he had at least bought Bitcoins eight years ago” .
Musk added, “I think at this point Bitcoin is a good thing, and it’s about to be widely accepted by mainstream financiers.”
Half a trillion dollar asset managers
A few days ago, the results of a Bank of America survey of its investor clients whose assets exceeded the half-trillion dollar mark showed expectations of continued Bitcoin trading momentum. in the period to come after the buying fever that hit investors last year, which has caused record gains for the cryptocurrency over the past year amounting to around 400%.
And the Bloomberg agency said in a report in which it examined excerpts from the report that, for the first time since 2017, bank or U.S. customers, with assets of around $ 561 billion, accumulated that Bitcoin is the most traded investment asset in the midst of an unprecedented situation. state of speculation sweeping Wall Street on cryptocurrency.
The report continued, “Investors polled by the bank this month see signs that long-term positions in the largest cryptocurrency have reached all-time highs at a time when individual and institutional investors are heading. towards the wave of the rise of cryptocurrency. “
Source link
