News Bitcoin breaks $10,000 record after growing 10-fold in a...

Bitcoin breaks $10,000 record after growing 10-fold in a year — RT Business News


- Advertisment -

Bitcoin breaks $10,000 record after growing 10-fold in a year — RT Business News

The record-breaking cryptocurrency Bitcoin has broken through yet another milestone, topping $10,000.

The cryptocurrency’s value skyrocketed unprecedentedly over 2017, rising from below $1,000 on January 1. According to blockchain and cryptocurrency website Coindesk, as of 2:30 am GMT Wednesday, Bitcoin was trading at around $10,030.

Bitcoin later climbed past $10,000 on the major Luxembourg-based cryptocurrency trading platform BitStamp.

Bitcoin had already reached the $10,000 mark in smaller exchanges on Tuesday. Earlier this week, it hit the record level on South Korea’s Bithumb, one of world’s biggest exchanges for cryptocurrencies. And in Zimbabwe, the lack of trust in the national currency has driven the price of Bitcoin to above $17,000 already.

READ MORE: Bitcoin smashes $10,000 landmark on South Korean exchange

Warnings from various investors about Bitcoin’s price have been growing as well, with many claiming the cryptocurrency is a growing bubble that could burst any moment.

“Is it a fraud? No. But these bubbles tend to end in tears,” Ken Griffin, founder of the $27 billion hedge fund Citadel, told CNBC in a recent interview.

Read more

Others, however, see the cryptocurrency as ushering in a new age in finance, with the potential to edge out the US dollar and other flat currencies.

“Bitcoin is a perfect currency, something that is utterly changing the global finance market and is putting banksters and the central banks out of business,” RT’s financial guru Max Keiser said.

Bitcoin has been proving the doomsayers wrong so far. Following a mid-November drop of over 30 percent, which some saw as the bubble starting to burst, it quickly regained all the losses and went right on growing.

However, most central banks still either don’t recognize the cryptocurrency or don’t regard it as an asset. However, it could be edging closer to official recognition as the Chicago Mercantile Exchange (CME) is interested in listing futures in the cryptocurrency. This has reportedly attracted the attention of Wall Street giant JP Morgan, which is now looking into facilitating Bitcoin futures trading for its clients, Bloomberg reported last week, citing its sources. That’s despite the bank’s CEO calling the cryptocurrency a “fraud.”

READ MORE: Bitcoin could ‘easily’ reach $40,000, says man who predicted current high

Source link


Please enter your comment!
Please enter your name here

Latest news

GoCrypto presents truly contactless payments with a simple solution for merchants and buyers

7 April 2020 — The recent events have rapidly changed the way we live, including our shopping...

Bitcoin SV has found a new niche in the gaming industry

Gaming companies and online casinos are increasingly paying attention to cryptocurrencies as a possible payment tool. Several...

Why could GLBrain become a great solution to receive support during the crisis?

To support smaller and medium-sized businesses during the ongoing crisis, GLBrain offers services cost-free for all Austrians....

Make Fast and Secure Trades Using is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...
- Advertisement -Bitcoin breaks $10,000 record after growing 10-fold in a year — RT Business News

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you