Everything indicates that bitcoins will continue to be worth more and more, especially after Visa and Mastercard announced that they are trying to use cryptocurrencies, and bitcoin is about to be worth almost $ 50,000.
According to CNN , the bit hit a record high of $ 49,714.66 last Sunday, before decreasing slightly. The trend shows that bitcoin has continued to rise around 4% over the past 24 hours. This virtual currency, which is currently the most valuable in the world, exceeded 20 thousand dollars for the first time in December, and since then the trend has been upward.
Investors spiked the price of bitcoin during the pandemic, as the Federal Reserve cut interest rates to near zero in March 2020 (and hopes to keep them there for several years), thereby weakening the US dollar. . All of this makes bitcoins even more “attractive”. There is a limit set for the number of bitcoins on the planet, and investors believe that once the supply is exhausted, the value of this virtual currency will tend to increase.
As bitcoin rises to its usual highs, big investors like Elon Musk are “storing it”, which only further reinforces the price increase. Last week, Tesla’s CEO said he could soon accept digital currency as payment for his cars. And Tesla, the most valuable car company on the stock exchange, said it is retaining part of its money in bitcoins instead of the traditional currency.
On Wednesday, Mastercard announced that it will support and “select crypto currencies”. This announcement marked an important milestone for bitcoin: Square and PayPal recently started allowing customers to make transactions in bitcoin, but Mastercard will be the most important platform ever for bitcoin.