Bitcoin’s market value has risen again


TODAY • 6:23 pm
/ 2 minutes reading time

The soaring of the digital currency Bitcoin continues.

The soaring of the digital currency Bitcoin continues and the market value has risen above a trillion US dollars for the first time. On Friday the course hit a record high of over $ 54,000. On the Bitstamp trading platform, by far the largest cryptocurrency on the market cost up to $ 54,861. In the morning, Bitcoin was still quoted at around $ 51,000 (a good 42,000 euros).

The market value of all bitcoins in circulation rose to a high of $ 1.018 trillion on Friday. This put it in the current year by more than 400 billion dollars.

The dazzling multi-billionaire and Tesla boss Elon Musk once again provided a boost to the share price. He said on Twitter why cryptocurrencies were preferable to traditional currencies in his view. If conventional currencies were subject to negative real interest rates, only a fool would not look elsewhere, wrote Musk. He was describing the loss that many investors currently have to accept in view of extremely low interest rates and taking inflation into account.

Extra boost

Bitcoin reacting to Musk’s tweets is nothing new. Musk is an avowed crypto fan and speaks lively on the subject, mostly through the news service Twitter. It was recently announced that the electric car manufacturer Tesla had invested billions in Bitcoin and wanted to accept the Internet currency as a payment method in the future. This has given Bitcoin, which has been soaring for a long time anyway, an additional boost.

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