This is a threefold increase in the Czech Republic year-on-year. “It can be said that at the beginning of the year the Czechia was hit by bitcoin fever, which was related to a sharp rise in prices up to twice. Growth could probably continue. Another reason is the limitation of other investment opportunities and an easy way to buy bitcoins, “said Martin Stránský, Director of Bitstock.com.
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He emphasized that the volume of trade in digital gold in Slovakia was about one-third that of the Czech Republic, and in January to March it reached approximately CZK 800 million.
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In the case of bitcoin, the highest price so far was in mid-March, when one coin was trading at the peak for $ 61,556, which corresponds to CZK 1,342,470. On Friday afternoon, the exchange rate was $ 58,471 (CZK 1,275,200).
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It is also worth mentioning that it was only at the turn of last year and this year that the limit of $ 30,000 (CZK 654,270) was exceeded for the first time. A year earlier, the rate was even only $ 7,000 (CZK 152,660).
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The arrival of great players
“After the arrival of coronavirus, bitcoin has proven to be an asset that does not respond directly to the crisis, such as securities or bonds. Due to its growing value, regardless of the economic downturn, it is often referred to as digital gold, “said Stránský.
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According to him, the interest in bitcoins is recorded by the easy possibility of trading and the arrival of well-known investors who increase the credibility of cryptocurrencies. In February, for example, the carmaker Tesla became a major player in the cryptocurrency market, when it bought bitcoins for $ 1.5 billion (over 32 billion crowns).
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In March, founder Elon Musk announced that people in the United States could buy his electric cars for bitcoins.
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Bitcoins and other virtual currencies
There are many virtual currencies. One of the oldest and currently the most popular are the so-called bitcoins. They were created in 2009, but have enjoyed greater popularity in recent years. This currency was designed so that it could not be influenced by any government or central bank.
Cyber coins are “minting” a network of computers with specialized software programmed to release new coins at a steady but declining pace. The number of coins in circulation is expected to reach 21 million in the end, which is to be around 2140.
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