Bitcoin jumps over $50k – Bitcoin is About to be Valued at $1 Trillion
Bitcoin jumps over US$50,000 for the first time in history, and investors with deep pockets are joining the crypto area.
Although it has been a roller-coaster ride for Bitcoin in the last few years, however amid COVID-19 and courtesy of a push by big industry maestros like Elon Musk and few others, Bitcoin seems to be racing its way to $100k price soon.
According to rough estimates and some statistics, Bitcoin is about to be valued at $1 trillion, which is on par or above the value of gold, which has been losing value since July 2020.
It’s safe to say that BTC and Gold are now arch-rivals. People like Robert Kiyosaki have advocated the acquitted of BTC as it seems to be the future, at least that’s what he believes.
As Bitcoin cites $1 million, some analysts are bullish while some pundits warn of huge risks ahead. Elon musk believes Bitcoin is better than holding cash, of course, he was mentioning to US dollar as Tesla begins to accept BTC as payments.
On the other hand, companies like Uber are not ready to buy Bitcoin but willing to accept it as payment, CEO Dara Khosrowshahi told CNBC last week.