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Bitcoin hits $60,000 in record high

Published 03/13/2021, 06:56 AM
Updated 03/13/2021, 10:50 AM
© Reuters. FILE PHOTO: Representations of virtual currency Bitcoin and U.S. dollar banknotes are seen in this picture illustration

(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.

Latest comments

Mana is up 4300% this year
I Myself will short this $1M at the right time!
hahha good luck losing all your fortune
Just ridiculous the way they represent it in pictures as if Bitcoin were some kind of gold coins... This will worth $0,00 as soon they find out how to decrypt it, and already are some claiming to crack Bitcoin by 2022...
It looks like the hike is linked to more institutions buying bitcoin. Let's see what is in the news next week
Bitcoin is Enron 20 yrs later
:D all haters didint bought it early and now they are so mad! :))
Buy it for what?? 1 stroke of Fed pen to outlaw it and becomes worthless overnight. Could be worth 1 million a coin and I still wouldn't buy it now as I know 2 days later could be worth 0. Nothing more than a speculative bubble being spurred on by massive amounts of cash in the system + worries over inflation. Plus the higher it goes the more people investing in mining it and the more energy it uses (already using up more than most countries).... an environmental disaster written all over it too...
hahhaha somebody is jealous
is it any money I will call it
is it every morning that we collect
bitcoin duplicate currency, gold is gold
They bout to rob the ***outta everybody
You wanna talk about a bubble
I have Candy coin for sale, anybody? I sell it for 1$ below the Bitcoin price. Buy the way, you can eat it also.
I can't wait for this run to be done so I can make the same money in a couple of days
how are you gonna do that? ever heard that with shorting you can make just make 100% max?
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
who cares ..slave masters..should be burnt to the ground!
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
what value?
 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.
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.
still it will raise above 70,000 by end of march
Ye and drop to 0 the day after...
if you have something productive to say, say it but dont make yourself look ridiculous by stating wild claims :)
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
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.
 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.
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 :)
Where is the rest of the article ?
Holiday !!!!
we can see that ..
just that
Great very informative 🤔
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