Currency rise is driven by Tesla’s $ 1.5 billion contribution last week and support from other financial market giants
THE bitcoin broke a new record this Tuesday, 16, and surpassed the mark of US $ 50 thousand, amid the growing appreciation of cryptocurrency the past few weeks. With the North American currency traded at approximately R $ 5.37, according to Friday’s close, 12, a bitcoin came to cost R $ 268.5 thousand. According to data from Coin Base, close to 12:45 pm, the cryptocurrency was quoted at just over R $ 265,000, an increase of 3.2% in relation to this Monday, 15, and an increase of 6.3% in a week. The surge in cryptocurrency was driven by a $ 1.5 billion contribution from Tesla last week. Elon Musk, the founder of the electric car maker and the richest man in the world, made a series of demonstrations in support of bitcoin and said his company should start accepting payment in virtual currency. At the same time, other financial market giants, such as the Mastercard card network and the online payment platform PayPal, have positioned themselves in favor of cryptocurrency.
Bitcoin has advanced more than 70% since the beginning of the year, when it was trading at approximately $ 30,000. The historic surge is viewed with caution by the financial market due to the high volatility of the cryptocurrency. By the end of 2017, the digital currency had gone over $ 18,000 before going downhill and losing almost 80% of its value and traded at approximately $ 3,000 in December 2018.