New Delhi: Bitcoin, the world’s largest cryptocurrency, crossed the 50 thousand dollar mark on Sunday, March 7, 2021. Bitcoin reached $ 50,947.94 on Sunday. Many companies, including American company Tesla, which manufactures electric cars, approved Bitcoin as a digital currency, so its prices started setting new records every day. After this, when its prices increased too much, Tesla founder Elon Musk questioned the rapidly increasing prices daily. After this, its expressions started falling. Now today it has crossed the 50 thousand dollar mark again.
More than 2 thousand dollars boom in cryptocurrency on Sunday
Kiptocracy Bitcoin has soared 83.7 percent from the low of $ 27,734 on January 4, 2021. It jumped 4.18 percent on Sunday compared to the previous bandh and recorded a rise of $ 2,043.31 in its price. Let us know that on 21 February 2021, Bitcoin touched its highest level and its price reached $ 58,354.14. Tesla said some time ago that the company is buying $ 1.5 billion in bitcoin as an investment strategy. Also said that the company is soon working on a plan to quickly approve payments through bitcoin on the purchase of its products. This led to a sharp jump in bitcoin.
‘Digital currency will become transaction currency within next 5 years’
After Tesla, Blue Ridge Bank of Charlottesville, Virginia (Virginia) said it would become the first commercial bank to provide access to bitcoin at its branches. America’s oldest bank, BNY Mellon, said that soon digital currency will be included in services offered to clients. Not only this, but MasterCard also said that it would start supporting some cryptocurrency on its network. Richard Lions, a finance professor at the University of California, had then said that other digital currencies, including bitcoin, would become the currency of transactions in the next five years. Explain that bitcoin is a virtual currency. It can be used like dollars, rupees, or pounds. It can also be exchanged in other currencies including dollars.