Bitcoin has overcome 50 thousand dollars. What helped set the record?

Yesterday, the price of Bitcoin set a new all-time high: the main cryptocurrency for the first time in its history was able to overcome the level of 50 thousand dollars .

This came amid news from MicroStrategy, which announced the sale of $ 600 million in bonds by MicroStrategy . The company plans to spend the funds received on the purchase of bitcoins. Let’s talk about the situation in more detail.

We checked the latest data: this morning, Bitcoin returned above the $ 50 thousand line, and it stays there for almost an hour. However, in the case of yesterday’s breakout, the cryptocurrency was more expensive than this mark for only a few minutes.

For clarity, we present the BTC chart for the last day. Cryptocurrency breakouts are clearly visible on it.

Bitcoin price chart per day

MicroStrategy buys Bitcoin again

Since hitting the $ 42K line in early January, Bitcoin has fluctuated between the $ 30K and $ 40K levels for several weeks. On February 8, Tesla announced that it had invested $ 1.5 billion in cryptocurrency, giving momentum to the price that is breaking records again. Note that the first attempt to storm the line of 50 thousand dollars ended in failure. However, today the cryptocurrency jumped over this level again and reached the level of $ 50,800 – and this is also the maximum rate.

Bitcoin price change in the last 90 days

As we noted, the $ 50K line was broken after the news about MicroStrategy was released. The company announced a desire to sell $ 600 million in convertible bonds. Moreover, the management will direct the money received to purchase the first cryptocurrency.

At the same time, the intersection of important psychological levels now is just a matter of time. Mikha Grchar, head of the business development department of the Kraken crypto exchange, is sure of a similar scenario. Here is a quote from him, in which he shares his attitude to the current situation.

The recent rally is proof that the corporate and institutional world is confident enough to make significant investments in Bitcoin, positioning it as a new vertical of investment assets.

He is referring to large investors who have invested hundreds of millions of dollars in bitcoins. This also includes Tesla, which has promised to accept BTC for its vehicles. By the way, fans of the company and cryptocurrencies fantasized on this topic – the payment window for electric vehicles in the future may look like this.

Tesla car payment page render

This opinion is also shared by the CEO of BitRiver Igor Runets. His line is quoted by Decrypt .

The current price rally has been largely driven by Tesla’s investment in BTC. Many industry insiders foresaw this decision: over the past few months, Elon Musk has become more likely to talk about Bitcoin on his social networks.

Indeed, in January, the richest man on the planet added the word «Bitcoin» to the description of his Twitter account, which even provoked a flash mob among cryptocurrency fans. However, a few days later, the mention of the coin disappeared from there – Elon removed it.

1 bitcoin = 50 thousand dollars

However, in general, Elon’s actions immediately affected the price of the main cryptocurrency – its value soared by several thousand in just a few hours.

And while Elon Musk dominates the headlines of cryptocurrency news today, at the same time, many other large investors have been buying bitcoins over the past few months. Between August and September 2020, business intelligence company MicroStrategy invested $ 425 million in Bitcoin. At the same time, MicroStrategy CEO Michael Saylor is credited with starting a new trend in attracting large organizations to the crypto market.

Here’s what Peter McCormack, a well-known cryptocurrency enthusiast and host of the WhatBitcoinDid podcast, thinks about it.

When Microstrategy invested $ 450 million, I’m sure many other companies thought Sailor was crazy. Now he looks like a genius.

MicroStrategy CEO Michael Sailor

Bitcoin’s growth prospects in the medium term remain cloudless . Now, many market participants are confident that the issue of reaching a six-digit amount in the value of BTC has remained almost closed – sooner or later, Bitcoin will still reach the $ 100 thousand mark .

The founder of the Binance cryptocurrency exchange Changpeng Zhao is sure of this. Tonight, he published a chart of Bitcoin, in which the coin was above the 50 thousand dollars level. And he supplemented all this with a phrase, the concept of which has already become a kind of Chanpen’s calling card, because he expressed similar thoughts before.

You know that you will have to get yourself a few slaps in the face if Bitcoin is sold below $ 100 thousand and there is no way to buy cryptocurrency so cheaply, right?

Binance CEO Changpeng Zhao

We believe that the state of affairs in the blockchain asset industry is now more positive than ever. New giants are joining investment in coins, while others are planning to further replenish their cryptocurrency reserves. At the same time, according to analysts, it is large companies that have made more efforts to the current growth, and «home» investors are not yet so active. So the chances are that things will get even better in the future.

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