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Bitcoin hits $60,000 in record high

ForexMar 13, 2021 10:50AM ET
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2/2 © Reuters. FILE PHOTO: Representations of virtual currency Bitcoin and U.S. dollar banknotes are seen in this picture illustration 2/2

(Reuters) - Bitcoin, the world's biggest cryptocurrency, on Saturday crossed a record high of $60,000.

Bitcoin has risen sharply this year, broadly outperforming conventional asset classes, partly due to broader acceptance as a form of payment.

In recent weeks, companies have taken advantage of its strength to raise hundreds of millions of dollars in funding, capitalizing on improved market sentiment.

A $1.5 billion bitcoin bet last month by Tesla (NASDAQ:TSLA) Inc saw Elon Musk's electric car company join business software firm MicroStrategy Inc and Twitter boss Jack Dorsey's payments company Square Inc (NYSE:SQ) in swapping some traditional cash reserves for the digital coin.

Coinbase, the biggest U.S. cryptocurrency exchange, filed last month for a Nasdaq listing. Regulatory approval would represent a landmark victory for cryptocurrency advocates seeking mainstream endorsement.

Amid rising customer demand to own and invest in bitcoin, Goldman Sachs Group Inc (NYSE:GS). said this week that it is exploring how to serve those clients while remaining on the right side of regulation. It recently restarted a cryptocurrency trading desk and this month it started dealing bitcoin futures and non-deliverable forwards.

Bitcoin hits $60,000 in record high
 

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Comments (24)
Darryl Allen
Darryl Allen Mar 13, 2021 8:43PM ET
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Bitcoin is worthless. I can 't pay my taxes or my mortgage with it. The value drops and spikes dramatically. What is it's utility other than being a speculative bubble?
ניר קליינר
ניר קליינר Mar 13, 2021 8:43PM ET
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and what utility does gold bring to you? can you pay taxes with it?
ניר קליינר
ניר קליינר Mar 13, 2021 8:43PM ET
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you say it's worthless yet people pay 60k in fiat for it. i believe it means it is worth 60k usd.
Alex Malmstrom
Alex Malmstrom Mar 13, 2021 8:43PM ET
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You pay taxes?
AmericaIsKing oftheGalaxy
AmericaIsKing oftheGalaxy Mar 13, 2021 6:16PM ET
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Mana is up 4300% this year
designio design
designio design Mar 13, 2021 3:31PM ET
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I Myself will short this $1M at the right time!
Jacob Steinschlag
Jacob Steinschlag Mar 13, 2021 3:31PM ET
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hahha good luck losing all your fortune
designio design
designio design Mar 13, 2021 3:28PM ET
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Just ridiculous the way they represent it in pictures as if Bitcoin were some kind of gold coins... This will worth $0,00 as soon they find out how to decrypt it, and already are some claiming to crack Bitcoin by 2022...
رائد AlRahmah
رائد AlRahmah Mar 13, 2021 2:01PM ET
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It looks like the hike is linked to more institutions buying bitcoin. Let's see what is in the news next week
Churn NBurn
ChurnNBurn Mar 13, 2021 1:53PM ET
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Bitcoin is Enron 20 yrs later
Tomas Barkaty
TomasB Mar 13, 2021 1:42PM ET
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:D all haters didint bought it early and now they are so mad! :))
Peter ONeill
Peter ONeill Mar 13, 2021 1:42PM ET
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Buy it for what?? 1 stroke of Fed pen to outlaw it and becomes worthless overnight. Could be worth 1 million a coin and I still wouldn't buy it now as I know 2 days later could be worth 0. Nothing more than a speculative bubble being spurred on by massive amounts of cash in the system + worries over inflation. Plus the higher it goes the more people investing in mining it and the more energy it uses (already using up more than most countries).... an environmental disaster written all over it too...
Jacob Steinschlag
Jacob Steinschlag Mar 13, 2021 1:42PM ET
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hahhaha somebody is jealous
Iwinosa Friday
Iwinosa Friday Mar 13, 2021 12:35PM ET
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is it any money I will call it
Iwinosa Friday
Iwinosa Friday Mar 13, 2021 12:34PM ET
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is it every morning that we collect
Bhagwan Dass
Bhagwan Dass Mar 13, 2021 12:27PM ET
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bitcoin duplicate currency, gold is gold
Pablo Blanc
Pablo Blanc Mar 13, 2021 12:25PM ET
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They bout to rob the ***outta everybody
Pablo Blanc
Pablo Blanc Mar 13, 2021 12:24PM ET
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You wanna talk about a bubble
ZS Beck
ZS Beck Mar 13, 2021 11:25AM ET
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I have Candy coin for sale, anybody? I sell it for 1$ below the Bitcoin price. Buy the way, you can eat it also.
Mark Henline
Mark Henline Mar 13, 2021 11:20AM ET
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I can't wait for this run to be done so I can make the same money in a couple of days
Jacob Steinschlag
Jacob Steinschlag Mar 13, 2021 11:20AM ET
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how are you gonna do that? ever heard that with shorting you can make just make 100% max?
Mark Henline
Mark Henline Mar 13, 2021 11:17AM ET
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its only worth what the fake media. makes it worth...lolkeep.pumping that ..con media fake news.. the world of media is the fakest thing I've ever seen
Mark Henline
Mark Henline Mar 13, 2021 10:59AM ET
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who cares ..slave masters..should be burnt to the ground!
Chris Sundo
Chris Sundo Mar 13, 2021 10:37AM ET
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As long as Bitcoin is subject to these excesses there's NO FUTURE for it to become a common currency. It's a Ponzi scheme. If Bitcoin users were to cash out now its brokerage would go bankrupt first even though Bitcoin owners have to pay income tax on their gains. -- Plus, with income tax being due soon redemptions are certain
Chris Sundo
Chris Sundo Mar 13, 2021 10:37AM ET
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So you owe income tax on your Bitcoin gains to the tax department of your gov't but you can't fund the tax debt coz you can't get the money out of your illiquid brokerage. Try it while you still have chance. The last are usually bitten by the dog - is a common saying
Jacob Steinschlag
Jacob Steinschlag Mar 13, 2021 10:37AM ET
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Bitcoin is no currency. it's a safe haven asset to store value against inflation and market volatility. of course, Bitcoin is highly volatile itself but the volatility is slightly decreasing over time. This year for example, we can expect a just 70% drop in value after hitting peak value, compared to the 80% and 90% drops 4 and 8 years ago.
Mark Henline
Mark Henline Mar 13, 2021 10:37AM ET
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Shane Gg
Shane Gg Mar 13, 2021 10:37AM ET
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Jacob Steinschlag  What exactly makes Bitcoin a "safe haven"? Why is its' value what it is at right now? Can you explain exactly what makes Bitcoin worth what it is going for right now other than people willing to pay that price for it? You can't because BTC is not a safe haven. There's nothing tangible or intangible financially or real that drives the price of BTC, only the fact that traders will continue to drive the price up until there is no one willing to pay more. Even making the argument that people can it to send or receive money across the globe doesn't fly. We can do that with plenty of other assets also. A great mind once said, "A thing is only worth what someone else is willing to pay for it." Never has that statement been more true than it is with Bitcoin.
Jacob Steinschlag
Jacob Steinschlag Mar 13, 2021 10:37AM ET
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alone the fact that bitcoin has outperformed gold the past 12 months and has outperformed any other asset given at any market turbulence makes it worth a safe heaven asset.The most important fact is that its inflation rate is super low and going towards zero over the next 10 years.it's also super safe as it cant be hacked, even with the newest computers and it's decentralized, means governments have no power over it.at last, its extremely hard to forbid bitcoin as it is basically just a combination of numbers and letters and you cant forbid people to purchase written down letters and numbers.
Martin Swap
Martin Swap Mar 13, 2021 10:32AM ET
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still it will raise above 70,000 by end of march
Peter ONeill
Peter ONeill Mar 13, 2021 10:32AM ET
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Ye and drop to 0 the day after...
Jacob Steinschlag
Jacob Steinschlag Mar 13, 2021 10:32AM ET
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if you have something productive to say, say it but dont make yourself look ridiculous by stating wild claims :)
Chris Sundo
Chris Sundo Mar 13, 2021 10:28AM ET
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Big crashes are usually preceded by big excesses. 2020 January to February was a good example. The goal is to raise the level from which to short from SMU/UN.TO is a good example
Jacob Steinschlag
Jacob Steinschlag Mar 13, 2021 10:28AM ET
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Bitcoin will crash like at the end of every halfing run cycle, its quite normal. I smell jealousy about not having invested when it was just 5000 usd like I did.
Shane Gg
Shane Gg Mar 13, 2021 10:28AM ET
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Jacob Steinschlag  I started trading crypto when BTC was $700. I had it plenty of times and sold it for profit over and over... I never figured crazy people would push it this high. Look on the bright side, at least we won't be holding the bag when it does crash.
Jacob Steinschlag
Jacob Steinschlag Mar 13, 2021 10:28AM ET
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i anticipated a price raise to 100K last may after having completed it last may and ill exit at 95K and be happy like a cookie. Ill buy bitcoin again when it falls about 60-70% from ath, whatever and whenever that will be as a preparation for the halving run in 2024 :)
Alexandros Sfyroeras
Alexandros Sfyroeras Mar 13, 2021 8:58AM ET
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Where is the rest of the article ?
Mousa Edan
Mousa Edan Mar 13, 2021 8:05AM ET
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Holiday !!!!
hami Durmaz
hami Durmaz Mar 13, 2021 7:24AM ET
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we can see that ..
Charles Ngari
Charles Ngari Mar 13, 2021 7:19AM ET
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just that
CrackHead Bob
CrackHead Bob Mar 13, 2021 7:07AM ET
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Great very informative 🤔
Cameroonian Genius
Cameroonian Genius Mar 13, 2021 7:07AM ET
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tikki tau main
 
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