[서울신문] Bitcoin surpassed 70 million won for the first time… I flew on the US stimulus package

Rising reversal in one month… $60,000 on weekends
Due to increased expectations for economic recovery such as US vaccine vaccination

At the Bithumb Gangnam Customer Center in Gangnam-gu, Seoul on the 14th, when the domestic transaction price of bitcoin exceeded 70 million won for the first time, an official is pointing to the bitcoin market price displayed on the electronic board.
Reporter Park Yoon-seul [email protected]” style=”padding:0px;margin:0px”>

▲’Cheonjungji’ Bitcoin
At the Bithumb Gangnam Customer Center in Gangnam-gu, Seoul on the 14th, when the domestic transaction price of bitcoin exceeded 70 million won for the first time, an official is pointing to the bitcoin market price displayed on the electronic board.
Reporter Park Yoon-seul [email protected]

Thanks to a massive economic stimulus plan from the US, the cryptocurrency Bitcoin broke the highest price by recording 70 million won for the first time in history. In terms of dollars, it also surpassed $60,000.

According to the cryptocurrency exchange Bithumb, as of 5:51 am on the 14th, 1 bitcoin recorded 70,362,000 won. On another exchange, Upbit, Bitcoin soared to 70,891,000 won at one time in the morning. Coinone and Corbit also traded at a price of over 70 million won. Unlike the stock market, cryptocurrencies are traded on an exchange basis, so even if they are of the same type, the transaction price is slightly different for each exchange. Bitcoin exceeded $60,000 in dollars on the 13th (local time). This price increase can be interpreted as a result of growing expectations for an economic recovery. U.S. President Joe Biden has signed an additional fiscal stimulus for COVID-19, totaling $1.9 trillion, and announced that he will give vaccination rights to all adults in the United States by May 1.

Bitcoin prices rebounded again from the beginning of this month, which fell sharply in the aftermath of the negative evaluation of US Treasury Secretary Janet Yellen after recording $50,000 on the 16th of last month. Bitcoin price rose in earnest after the US online payment company PayPal announced in October last year that it would allow cryptocurrency to be used as a payment method. In addition, Tesla, a U.S. electric vehicle company, announced that it will purchase Bitcoin worth $1.5 billion (approximately 1.7 trillion won) last month and use it as a payment method, which acted as a catalyst. An avid supporter of cryptocurrency, Twitter CEO Jack Doshi, has also created a fund to support the development of bitcoin as an online currency with rapper Jay-Z.

Reporter Yoo Dae-geun [email protected]