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Bitcoin is not slowing down! Yesterday, the world of cryptocurrencies circulated the news that Bitcoin’s listing had risen again and 5%, to a cosmic $63,000. Over the past six months, the value of the Bitcoin cryptocurrency has increased by 450%!

Bitcoin doubles in 2021

The Bitcoin cryptocurrency is by far the strongest cryptocurrency on the market. Its value has doubled since the beginning of this year. The year 2020 is a veritable no holds barred ride when it comes to the listing. The first quarter of 2020 saw a value of less than $7,000, and at the current exchange rate, you can see the increase in value Bitcoin has undergone. The competing cryptocurrency for Bitcoin is Ethereum, which is also seeing increases and yesterday saw a record $2205 in value. 

Cryptocurrencies are becoming a serious player in the financial market

The fresh records were set a day before the launch of America’s largest cryptocurrency exchange Coinbase on Wall Street’s tech-filled Nasdaq exchange. Coinbase’s entry into the exchange was seen by cryptocurrency fans as another sign of cryptocurrencies’ growing acceptance among investors and financial institutions, and as a means of payment. The value of one unit of bitcoin soared towards $60,000 in February which was directly related to the decision of Tesla, which is run by popular billionaire Elon Musk. As a matter of recollection – Tesla has purchased bitcoins with a total value of around $1.5 billion and has decided to be able to pay for its products using cryptocurrency. Elon Musk, who briefly became the richest man in the world before Tesla’s stock price collapsed, previously changed his Twitter bio to “#bitcoin”.

More countries join the map of interest in Bitcoin

Cryptocurrencies and especially trading in them are extremely popular right now in Turkey. This is due to the fact that bitcoins are a form of hedge for many investors against rising inflation. Despite the fact that cryptocurrencies are already known around the world their subject is still controversial, an example is the Bank of England which is skeptical of this type of currency due to potential hacking attacks. Another aspect of why cryptocurrencies are viewed negatively is the environmental issue. They are viewed negatively due to the fact that a great deal of energy is required to obtain them. Bitcoins are created in a process that requires complex calculations that are very energy intensive. The more cryptocurrencies we want to acquire the more energy is consumed.