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| Bitcoin surpasses $ 30,000 for the first time |
Bitcoin cryptocurrency continued to rise on Saturday, crossing the $ 30,000 mark for the first time since the start of this year, and more traders and investors are betting that it will become a payment method. dominant.
Last Saturday, the price of the world's most popular cryptocurrency crossed the $ 30,000 mark and reached $ 32,460 within a few hours.
A year later, Bitcoin grew by more than 300% in 2020 and nearly 50% in December alone.
The coin reached its highest level in nearly three years on November 30, 2020, reaching $ 19,793. As of December 31, 2020, the cryptocurrency is up by nearly $ 10,000.
Bitcoin's market value increased to nearly $ 610 billion, surpassing many of the most famous companies in the world.
The currency has been around for a decade, and in 2020, demand growth from major US investors will be attracted by the potential for inflation hedging and quick profitability and is expected to increase as a major proponent.
Investors say the limited supply of Bitcoin produced by mining computers that compete to solve mathematical puzzles to check transaction locks has increased in recent days.
Much like gold, some people also see it as a safe haven during the coronavirus pandemic.
It is traded on several exchanges, the largest of which is Coinbase, and Coinbase itself is preparing to list, making it the first platform to be listed on Wall Street.
There are several competing cryptocurrencies that use blockchain technology or electronic ledger, including Ethereum, the second largest digital currency in the world by size, growing by 465% in 2020 and growing by 5.3% on Saturday.
The Federal Reserve, along with other central banks, helped Bitcoin to rise by printing money to avoid the worst economic impacts of this pandemic.
US President Donald Trump has urged Congress to take greater measures to control the stimulus, and these measures are seen by many as potential catalysts that would increase inflation and damage the dollar, which could be beneficial to Bitcoin. .