{"id":188034,"date":"2021-02-20T20:31:26","date_gmt":"2021-02-20T20:31:26","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=188034"},"modified":"2021-02-20T20:31:29","modified_gmt":"2021-02-20T20:31:29","slug":"bitcoins-madness","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/bitcoins-madness\/","title":{"rendered":"Bitcoin\u2019s madness continues, market value exceeds $1 trillion"},"content":{"rendered":"\n

Bitcoin\u2019s madness seems to be still on going after recording a new unprecedented high of more than $56,000.\u00a0Its market value exceeded the trillion dollar barrier for the first time in its history.<\/p>\n\n\n\n

On Friday evening, Bitcoin reached $56,000, up by 8.4%, the highest level ever, according to CoinMarketCap.<\/p>\n\n\n\n

The market value of Bitcoin exceeded one trillion dollars, to reach $1.042 trillion, for the first time ever.<\/p>\n\n\n\n

Bitcoin\u2019s madness<\/strong><\/h2>\n\n\n\n

The market value of all digital currencies combined is about $1.703 trillion, compared to $1.6 trillion 24 hours ago.<\/p>\n\n\n\n

Bitcoin continues to break through a number of record levels in succession, and in short times. The cryptocurrency experienced a rapid movement within days as its value $53,000 before yesterday.<\/p>\n\n\n\n

This is in light of profits exceeding 70% since the beginning of February of the year 2021, as a result of the interest of companies and major organizations to deal in the cryptocurrency Bitcoin.<\/p>\n\n\n\n

Bitcoin is achieving gains, defying the fears of many market regulators, amid warnings about the currency’s solidity and speculation.<\/p>\n\n\n\n

A number of analysts and financial experts had issued their warnings that Bitcoin was a fake hedge against the decline in stock prices.<\/p>\n\n\n\n

Eric Rosengren, president of the Federal Reserve Bank of Boston, USA, said that Bitcoin’s winning streak will eventually come to an end.<\/p>\n\n\n\n

Rosengren said Federal banks in his country have discussed the possibility that the US has its digital currency, and that the step will be taken, but with great caution.<\/p>\n\n\n\n

In the same context, Andrew Bailey, governor of the Bank of England, said in January that any existing digital currencies would not last in the long term.<\/p>\n\n\n\n

was only a little better than holding conventional cash said Elon Musk<\/a>, CEO of Tesla, defending his company’s $1.5 billion investment in the cryptocurrency.<\/p>\n\n\n\n

Bitcoin <\/a>was launched in 2009, through a person called Satoshi Nakamoto. The cryptocurrency originated through a complex computer process, and then it was monitored by a network of computers around the world.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s madness seems to be still on going after recording a new unprecedented high of more than $56,000.\u00a0Its market value exceeded the trillion dollar barrier for the first time in its history. On Friday evening, Bitcoin reached $56,000, up by 8.4%, the highest level ever, according to CoinMarketCap. The market value of Bitcoin exceeded one […]<\/p>\n","protected":false},"author":4,"featured_media":188035,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[168,278],"class_list":["post-188034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-bitcoin","tag-featured"],"yoast_head":"\nBitcoin\u2019s madness continues, market value exceeds $1 trillion - Bnreport<\/title>\n<meta name=\"description\" content=\"Bnreport - Finance- Bitcoin\u2019s madness seems to be still on going after recording a new unprecedented high of more than $56,000.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/bitcoins-madness\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin\u2019s madness continues, market value exceeds $1 trillion - 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