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Bitcoin sets a record of more than $28,000



The market value of digital currencies exceeds 500 billion U.S. dollars. Think Bitcoin is just a fad?Its value exceeds visa (V) Either MasterCard (Well).Either Walmart (WMT).
Bitcoin surpassed $20,000 for the first time 11 days ago. Now, it is asking for $30,000.

Its rapid rise is eye-catching-or crazy, depending on your risk appetite. But there is some logic to this rise: During the Fed (Covid-19) pandemic, investors are investing money in Bitcoin and other cryptocurrencies because the Fed has reduced interest rates to near zero (and hopes to keep interest rates here) More than a few years), which severely weakened the USD/USD exchange rate. Dollar.

Relatively speaking, this makes Bitcoin an attractive currency. There is a set limit on the number of bitcoins on the planet, and investors believe that once the supply is exhausted, the value of digital coins will only increase.

This also helps increase Bitcoin̵
7;s valuation: investors in large, well-known brands are stockpiling it, and large consumer companies are embracing it. This adds a certain degree of effectiveness and attractiveness to mainstream investors. E.g, Black stone (black) Recently, it was said that cryptocurrency can replace gold, and square (square) with Paypal (PYPL) Both embraced Bitcoin.
As Bitcoin has soared to a record high, the most famous cryptocurrency exchange-cryptocurrency brokerage firm Coinbase has expressed its intention to go public.
Despite this, the recent surge in cryptocurrencies is still showing signs of collapse-over-enthusiasm has been aggravated by fear of missing the market and not just market fundamentals. Last week Elon Musk’s satirical tweet about Bitcoin rival Dogecoin: The digital coin itself was constructed as an imitation of a cryptocurrency, immediately after Musk expressed his support on Twitter Soared by 20%.

Anhony Scaramucci, the founder of Skybridge Capital, has a large stake in Bitcoin, but even if he says people need to beware. He told CNN Business earlier this month that this could be a solid addition to the average investor’s portfolio-but you have to rest assured.

Scaramucci said in a CNN Business “Market Now” live show earlier this month that people have begun to accept Bitcoin-since Bitcoin appears in very few portfolios, it has a lot of room for growth. However, Bitcoin is a volatile asset, and if you invest in it, it will be a risky asset.

He said: “This thing has a tendency to collapse.” “This is a correction. These corrections may be violent.”

Scaramucci said that Bitcoin could suddenly fall by 20% to 50%.

He added: “You have to be very cautious.”

But he also emphasized the staying power of Bitcoin over the past ten years: if you spend 1 dollar and invest 99 cents in cash and 1 cent in Bitcoin, then the investment strategy will perform more than 1 dollar. S&P 500 (SPX) He pointed out that in the past ten years.

Scaramucci told CNN Business: “The best days of Bitcoin have passed, but it will become turbulent, and I think people need to be prepared for it.”


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