{"id":201499,"date":"2021-03-13T20:51:02","date_gmt":"2021-03-13T17:51:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-passes-60000-for-first-time\/"},"modified":"2021-03-13T20:51:02","modified_gmt":"2021-03-13T17:51:02","slug":"bitcoin-passes-60000-for-first-time","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-passes-60000-for-first-time\/","title":{"rendered":"#Bitcoin passes $60,000 for first time"},"content":{"rendered":"

“#Bitcoin passes $60,000 for first time<\/strong>”<\/p>\n

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\"Investors
\n Investors and Wall Street finance giants have been wooed by Bitcoin’s dizzying growth
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Bitcoin passed the $60,000 mark for the first time on Saturday, with analysts saying the giant US stimulus package helped boost the world’s most popular virtual currency on its record-breaking run.<\/p>\n

The cryptocurrency hit $60,197 at 1234 GMT and continued to hover around $60,000, according to the website CoinMarketCap.<\/p>\n

Bitcoin has trip<\/a>led in value over the last three months\u2014it was worth $20,000 in December\u2014bolstered by increasing backing from corporate heavyweights.<\/p>\n

Markets.com analyst Neil Wilson said that in recent days “Bitcoin went up as investors looked to the imminent arrival of stimulus cheques”.<\/p>\n

Individuals in the US earning up to $75,000 will receive a cheque for $1,400 from this weekend, after President Joe Biden signed his $1.9 trillion Covid-19 rescue plan into law this week.<\/p>\n

Bitcoin has been on a meteoric rise since March last year, when it stood at $5,000, spurred by online payments giant PayPal saying it would allow account holders to use cryptocurrency.<\/p>\n

Last month Elon Musk’s electric carmaker Tesla invested $1.5 billion in the virtual unit, while Twitter<\/a> chief Jack Dorsey and rap mogul Jay-Z said they are creating a fund aimed at making Bitcoin “the internet’s currency”.<\/p>\n

Others jumping on the bandwagon include Wall Street player BNY Mellon, investment fund giant BlackRock and credit card titan Mastercard.<\/p>\n

Bitcoin, which was launched back in 2009, hit the headlines in 2017 after soaring from less than $1,000 in January to almost $20,000 in December of the same year.<\/p>\n

The virtual bubble then burst in subsequent days, with bitcoin’s value fluctuating wildly before sinking below $5,000 by October 2018.<\/p>\n

However the last year’s rise has been more steady, with investors and Wall Street finance giants wooed by dizzying growth, the opportunity for profit and asset diversification, and a safe store of value to guard against inflation.<\/p>\n

Bitcoins are traded via a decentralised registry system known as a blockchain.<\/p>\n

The system requires massive computer processing power in order to manage and implement transactions.<\/p>\n

That power is provided by “miners”, who do so in the hope they will receive new bitcoins for validating transaction data.\n <\/p>\n\n

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Bitcoin surges past $50,000 for first time\n <\/p><\/div>\n

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\n \u00a9 2021 AFP<\/p>\n

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Citation<\/strong>:
\n Bitcoin passes $60,000 for first time (2021, March 13)
\n retrieved 13 March 2021
\n from https:\/\/techxplore.com\/news<\/a>\/2021-03-bitcoin-1.html<\/p>\n

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\n part may be reproduced without the written permission. The content is provided for information purposes only.<\/p><\/div>\n<\/p><\/div>\n