Bitcoin Continues to Grow Exceeding the Value of $ 50,000

The business frenzy around the world’s most popular cryptocurrency, Bitcoin, is not over. Yesterday , this commodity broke the $ 50,000 per unit The price of Bitcoin has been rising since last November, and this year alone its value has increased by more than seventy percent.

There are many reasons for the interest in this cryptocurrency. First of all, it is Bitcoin himself who has shown that it is able to climb to unsuspected heights and it is a question of where it will stop (which he is obviously not going to do yet). Another impetus is the approach of third-party companies, which trust Bitcoin so much that they invest in it themselves and also accept it as a payment option. For example, let’s name the PayPal payment system or the Tesla car manufacturer.

Bitcoin relies on a finite number of its units (although this is computer-generated data). Gradually fewer and fewer of them enter the system and it is more difficult to obtain them by “mining”. This also increases the price of this commodity. The comparison with world gold is interesting. According to John Wu, president of blockchain company Ava Labs, at current market values, the value of all bitcoin units is approximately $ 931 billion, or 9 percent of the world’s gold. If Bitcoin wanted to beat gold, its value would have to be $ 500,000.

Despite all the growth, experts warn that the price of Bitcoin is extremely volatile and do not recommend saving more money than its owner is willing to lose.

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