The price of the virtual currency “Bitcoin” on Saturday crossed the threshold of $ 30,000 for the first time in its history, continuing the strong gains it made at the end of last year.
The price of Bitcoin surpassed the level of $ 29,000 last Thursday, as the value of the digital currency almost quadrupled during the year of the pandemic in light of the growing interest from large investors and small alike.
According to Thursday’s trading, the most popular cryptocurrency in the world touched the level of $ 29,300 before it fell 0.67% to $ 28,774.36, and then rose again on Saturday.
According to the latest pricing before trading, Bitcoin has gained 50% since it broke the $ 20,000 mark for the first time on December 16.
On the other hand, the Bloomberg Galaxy Crypto Index, which tracks the largest digital currencies, rose by 280% with the rise of other competing digital currencies, such as Ether.
According to a report by the economic website Asset Dash, seen by Al Arabiya.net, Bitcoin is now ranked eleventh among the largest global assets, behind giants such as Facebook, Apple, Walmart and Samsung. It also preceded the global “Visa” company, making Bitcoin the largest financial service in the world after it removed Visa from this throne.
Bitcoin’s rise accelerated after a manager of a giant British investment fund revealed that it had bought $ 745 million worth of Bitcoin.
Cryptocurrency experts stress that the recent gains are caused by strong demand from institutions in the first place, in contrast to the 2017 gains, which were supported by individuals and speculation.
What also supported the Bitcoin fever was the direction of regulators and financial companies to make cryptocurrencies more secure, as the Office of the Comptroller of the Currency, a US regulator, allowed banks to hold cryptocurrencies for customers.
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