Bitcoin surpassed $ 60,000

According to CoinemarketCap’s update, Bitcoin’s price just surpassed $ 60,000, thereby breaking new previous records. The total market capitalization of the Bitcoin market has reached over $ 1,120 billion.

Having been circulating since 2009, the price of Bitcoin has recently risen sharply after many individual and institutional investors poured money in. Most notably, billionaire Elon Musk and his Tesla company have poured $ 1.5 billion into this market.

The fact that the US maintains low interest rates to stimulate the economy during the season has prompted investors to seek new shelter beyond gold to maximize profits. Over the past 24 hours, Bitcoin’s transaction volume has reached over $ 62 million, up nearly 14 percent.

Similarly, the price of other digital currencies such as Ethereum, Binance coin or Litecoin also increased sharply.

Morgan Creek Digital Assets co-founder Anthony Pompliano once told CNBC the Bitcoin price could reach $ 500,000 by the end of the decade.

But despite the support of billionaire Elon Musk and many investors, some experts oppose Bitcoin. US Treasury Secretary Janet Yellen, also a former chairman of the US Federal Reserve (FED), warned that Bitcoin players could lose money and investors should be cautious.

Founder Bill Gates said that Bitcoin is destroying the environment, although he is not against the technology of digital currencies.