- Tram Ho
Bitcoin price surged in trading on Friday after Elon Musk added a self-describing line on his personal Twitter account to “#Bitcoin”.
Specifically, according to CoinDesk data, the price of this digital currency has increased dramatically from the threshold of 32,000 USD / dong to 37,300 USD / dong, then turned down slightly. Bitcoin is currently trading around $ 36,700 per coin, up 16.37% from a day earlier.
Previously, Musk changed the self-description on his Twiiter account to #bitcoin early on Friday morning. Then he sent out a message saying, “Looking back, this is inevitable.”
The move added to the relentless momentum in the market this week as the share prices of companies like GameStop and AMC surged on the back of a wave of private investors.
Dogecoin – another digital currency has also increased 800% in the past 24 hours.
Bitcoin price at nearly 11 noon on January 29, according to data from Coinmarketcap.com, stood at nearly $ 33,900, an increase of more than 9% compared to 24 hours ago. The price of this virtual currency is tending to level off after setting a record of nearly $ 42,000 a while ago.
This isn’t the first time Elon Musk’s Twitter moves have created a market boom. The CEO recently raised the stock price of GameStop after posting “GameStonk” – a praise for the Reddit team r / wallstreetbets that blew the price of a share to its highest ever.
The addition of bitcoin to Musk’s Twitter profile comes after rumors of whether the Tesla CEO will buy bitcoin or add the digital currency to Tesla’s balance sheet.
When CEO MicroStrategy said, ” If you want to bring shareholders $ 100 billion, change the unit of Tesla’s balance sheet from USD to bitcoin .”
In response, Musk said: ” Can such a big transaction happen? ”
Despite its high price point, until now, bitcoin has remained a controversial thing among analysts.
Billionaire Ray Dalio, founder of the world’s leading hedge fund management firm Bridgewater Associates, said that Bitcoin is “a great invention” and said that he is considering bringing virtual money into newly opened funds to bring it back. gives customers an option to protect against paper currency devaluation.
” The creation of a new form of money through a computer programmed system – a currency that has been around for more than 10 years and is gaining in popularity quickly, not just as money, but as a storage channel. asset – is a great achievement, “Mr. Dalio wrote in a client report. ” At the moment, despite the growing demand, there are not many substitute assets like gold ” like Bitcoin.
However, like many investors and experts alike, Mr. Dalio sees giving the fair value of digital assets a challenge. Bitcoin has the potential to make investors “very rich” and can ” upset the existing monetary system “, but this investment channel also comes with many risks. The renowned hedge fund manager says cryptocurrencies are vulnerable to cyber attacks and are restricted by governments that want to control the money supply.
Dalio said he sees Bitcoin as a ” long-term option on an unpredictable future ” and that investing in Bitcoin is accepting losses of around 80%.
Source : Genk