US Coinbase for $6,415 on the 13th
It jumped 40% from the short-term low on February 28th.
Inflation prospects and institutional purchases are the background
Image of Bitcoin, a cryptocurrency. Reuters Yonhap News
The price of bitcoin, the leader of cryptocurrency (virtual currency), surpassed $60,000 for the first time in history on the 13th (local time). The price of most virtual assets is soaring, with the price of Ethereum, which is the second largest in terms of market capitalization, approaching $1900.
According to Coinbase, an American cryptocurrency exchange, the price of bitcoin was traded at 7:25 a.m. (9:25 p.m. Korean time) on the same day at $64,415.34 per piece. Compared to 24 hours ago, it is a 7.96% increase.
As a result, it exceeded the price ($58,367.00) on the 21st of last month, which was the previous high.
On the 28th of last month, Bitcoin showed a steep rise after hitting a low for the last month ($43,016). It has soared more than 40% in less than 15 days.
The rise in bitcoin price is an analysis that the impact of $1.9 trillion in stimulus measures to be implemented from this weekend in the United States is large. Cryptocurrency is emerging as an alternative investment vehicle as massive stimulus funds fuel inflation.
Bitcoin price exceeded $60,000 each for the first time in the US market on the 13th (local time).
“Bitcoin purchases by institutional investors such as Mei Chu are continuing,” said Jehan Chu, co-founder of Hong Kong-based cryptocurrency trading company Kennetic. said.
On the 5th of this month, May2, an image and video software company, purchased Ethereum for $22 million (15,000 pieces) and Bitcoin for $17.9 million (379.1 pieces).
May2, a listed company on the Hong Kong Stock Exchange, has obtained approval from the board of directors to purchase cryptocurrencies up to $100 million in cash reserves. In the announcement, May2 explained, “In addition to diversifying the holdings, there is also a meaning to prepare to enter the blockchain market.”
“Cryptocurrency is not only an effective hedging tool, but also an attractive asset when building a portfolio (asset allocation),” said George Ball, chairman of investment firm Sanders Morris Harris, in an interview with Yahoo Finance. It has no choice but to lose its value, but cryptocurrency can be a good alternative.”
Investment bank JP Morgan also explained, “If this super stimulus is implemented, the dollar will be relatively devalued.”
New York = Correspondent Jae-Gil Cho [email protected]
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