Bitcoin Hits $56,000 and $1 Trillion Market Cap

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21 Feb 2021, Kathmandu

The value of the cryptocurrency on the global market has reached $1.7 trillion. With this historic number surpassing, the electric car producer Tesla Corporation’s company has taken on a new character.

The company did not invest in Bitcoin until last January. In only one month, the company received $930 million from Bitcoin investment, according to The Times of the United Kingdom.

The improvements seen in Bitcoin are fantastic. Its value increased by 81% compared to the same time last year. Bitcoin’s price has recently hit 56,399.99.

Tesla has decided to invest $1.5 billion in Bitcoin and accept it as payment. At the same time, Bitcoin has gained widespread legitimacy.

Chris Weston, Melbourne Brokerage Pepperstone’s chief researcher, says its value continues to grow as major players in the financial sector make net investments.

You may like this: India Plans to Introduce Law to Ban Bitcoin


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