The world’s most popular cryptocurrency Bitcoin set a historical record on Tuesday. For the first time in its history since its introduction in 2009, today the price of 1 bitcoin has crossed $ 50,000. Today, the price of bitcoin reached the highest level of $ 50,584.85 i.e. 36.83 lakh rupees in the worldwide crypto exchange. However, by the evening, its prices softened and at 7 pm it was trading at $ 49,442 on the cryptocurrency exchange Coindesk. Bitcoin prices have risen by more than 73% this year. At the same time, the price of its rival cryptocurrency ether has increased by 150%.
This is the reason for the rise in bitcoin
The acceptance of Bitcoin has increased worldwide, due to which people are investing heavily in this digital currency. Apart from the common people, now multinational companies like Apple and Tesla are also investing in Bitcoin and are talking about accepting it as a transaction. Last week Tesla, the company of the world’s richest man Elon Musk, made a big investment of $ 1.5 billion in bitcoin. In addition to Tesla, giant insurance company Mass-Mutual, asset manager Galaxy Digital Holding, Twitter CEO Jack Dorsey’s payment company Squire have also made large investments in Bitcoin, causing its prices to skyrocket.
These are the possibilities in the future
Investment and brokerage firm JP Morgan said that if Bitcoin becomes Safe Heaven, its value could reach $ 1,46,000. At the same time, MasterCard is preparing to approve cryptocurrency payments on its network. In addition, Counterpoint Global, an investment company of Morgan Stanley, is also planning to invest heavily in Bitcoin. However, amid the big boom in Bitcoin, some experts say it is a digital bubble that is set to explode. Governments of many countries, including India, are going to enact laws to ban cryptocurrencies, causing great concern about the future of cryptocurrencies including Bitcoin.
World’s first Bitcoin ETF will be launched in Canada
The world’s first Bitcoin ETF may soon be launched in Canada. For this, the Canadian securities regulator Ontario Securities Commission has approved the launch of the world’s first exchange-traded bitcoin fund. That is, the way has been cleared to invest in cryptocurrency bitcoins through ETFs by retail investors in Canada. The Ontario Securities Commission has allowed Purpose Investments Inc. to bring a Purpose Bitcoin ETF on the Toronto Stock Exchange.