Bitcoin hits record high of $ 50,000 at new high

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Bitcoin broke another barrier early on Tuesday (16) and reached a record high of $ 50,000 (about R $ 268,000 at the current price). Currently, the total number of bitcoin in circulation is just over $ 930 billion (R $ 4.9 trillion), according to the CoinGecko website, which evaluates this market.

This week alone the cryptocurrency rose more than 20%. One of the main factors for the increase was Tesla’s announcement to buy $ 1.5 billion in bitcoins. Billionaire Elon Musk’s company is even expected to start accepting digital currency as payment.

In addition to Tesla, the software company MicroStrategy has also made this market move and has bought more than $ 1 billion in bitcoins in recent months. Allied to these actions, in the United States Mastercard and Bank of New York Mellon have facilitated the use of bitcoins by ordinary consumers.

According to Reuters, bitcoin has already risen more than 60% in 2021. Since March 2020 the cryptocurrency has appreciated by an incredible 1,100%, and it ended last year quoted at around $ 29,000.

Volatile assets

Despite the record value, bitcoin is still a very volatile asset like many others. In exchange offices that carry out this purchase and sale transaction, the asset exceeded the value of US $ 50 thousand this morning and later fell to lower levels in a few minutes.

In the week of January 22, the digital currency hit its biggest devaluation in about 4 months. At the time, cryptocurrency recorded a 12% drop in value. According to market analysts, the reason for the devaluation was a supposed error in the digital currency blockchain.

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