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On the 16th, the price of bitcoin in cryptocurrency exceeded 50,000 dollars (55.1 million won) for the first time. The daily increase was more than 5%.
According to Bloomberg News, the bitcoin price hit $5,191 at 7:32 am in New York on the same day. Reuters reported that it was over $50,000 in London.
Since cryptocurrency is traded on an exchange basis, the transaction price is slightly different for each exchange.
According to the Wall Street Journal, the total value of Bitcoin in circulation has soared to $940 billion.
Bitcoin price, which was only a few hundred dollars just five years ago, rose 170% in the fourth quarter of last year and more than 70% this year.
The bullish bitcoin price was particularly noticeable last week when Tesla’s purchase of bitcoin became known.
Tesla also revealed the possibility of accepting bitcoin as a payment method for its own products, and New York Mellon Bank (BNY Melon), the oldest bank in the United States, said it was planning to hold, transfer, and issue virtual currency. It decided to support cryptocurrency in its own network later this year.
There was also news that Morgan Stanley could add Bitcoin as an investment target.
There are also opinions that Bitcoin is now called’digital gold’.
JPMorgan Chase analyzed that bitcoin has emerged as a competitor to gold as an investment asset, and that if it is treated similarly to gold, the price can reach $146,000 (about 158.61 million won) in the long term.
Domestic bitcoin prices are also strong.
According to the cryptocurrency exchange Bithumb, as of 9:57 am on the day, the value of one bitcoin is 54615,000 won, up 0.59% from the previous day.
However, although the bitcoin price is rising without hesitation, there are warning voices for investors as the volatility is so high.
Bitcoin price has plummeted after a surge in 2017.
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