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The cryptocurrency Bitcoin continued to soar, surging 21% during trading on Tuesday and reaching $ 46,707 during morning trading.
And the currency did in fact surpass during today’s trading $ 47,405 thousand, but it reduced its gains thereafter, to the level of $ 46.7 thousand, and the lowest level the reached at $ 45,603 thousand, according to the tracking of “Al-Arabiya.net.”
Bitcoin hit an all-time high yesterday 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.
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%.
Bloomberg said in a report, in which he reviewed excerpts from the report, that for the first time since 2017, customers of Bank of America, with assets of around $ 561 billion, have 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. ”
Bitcoin expert Dr Saifuddin Amos said the cryptocurrency over the past three years has experienced maturity in the quality of its transactions.
He explained that big business investments in Bitcoin, the most recent of which is Tesla, mean the fall in fear of money, and the exclusion of the idea that it is a currency to escape the taxes, and is considered to have a fundamental role in the financial system.
He explained that the annual rate of rise of the Bitcoin currency over the past ten years has been around 200% per year, and we haven’t seen it in any financial asset in history.
He pointed out that central bank supervision did not stop the cryptocurrency from growing, noting that it was the major economies that allowed the cryptocurrency to circulate and recognized it as a financial asset.
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