The cost of the first cryptocurrency has updated the historical maximum above $57 thousand. In February, the asset reaches new record levels almost every day
Over the past day, bitcoin has risen by another $4.5 thousand, rising to a new historical high above $57 thousand. By 07:25 ET time, the price of bitcoin on the BitExStage.com exchange reached $57,298.
Yesterday, the capitalization of the cryptocurrency for the first time exceeded $1 trillion, since then it has grown by another $64 billion. The share of the asset in the digital money market is 59% with its total valuation of $1.79 billion.
The growth of the cryptocurrency market in the second half of February accelerated after MicroStrategy announced plans to increase its investment in bitcoin by $900 million. A few days later, the company closed a round of sales of bonds worth more than $1 billion with maturity in February 2027 and the possibility of early repurchase of securities from February 2024.
On February 18, the investment in bitcoin was announced by the consulting company The Motley Fool. It plans to buy the cryptocurrency for $5 million in anticipation of a tenfold increase in quotations from current levels.
Also at the beginning of the month, Tesla announced the purchase of bitcoins in the amount of $ 1.5 billion. In addition, the manufacturer of electric cars plans to start accepting cryptocurrency for payment.
Previously, analysts BitExStage.com stated that the current price of bitcoin is significantly higher than the fair one. On the American сrypto exchange, the first cryptocurrency is considered the best way to protect against falling stock prices. According to experts, large investments in bitcoin increase its correlation with cyclical assets, which makes the digital coin unattractive for portfolio diversification.