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Home / Business / Bitcoin’s record rebound has created thousands of cryptocurrency millionaires…at least in virtual reality — RT Business News

Bitcoin’s record rebound has created thousands of cryptocurrency millionaires…at least in virtual reality — RT Business News



Due to the soaring price of cryptocurrencies, the number of accounts holding Bitcoin has recently surged. According to data from BitInfoCharts, there are currently more than 93,000 accounts holding bitcoins worth at least $1 million.

Statistics also show that 8,214 accounts have bitcoins worth more than 10 million U.S. dollars. According to Redditor, these are 102,076 Bitcoin accounts that can be called Bitcoin accounts, and in this way they indicate poor investment performance. In addition, 422,104 accounts can have Bitcoin accounts worth more than $100,000.

After Tesla announced a $1.5 billion investment in Bitcoin, the world’s largest cryptocurrency, Bitcoin, broke the $50,000 price milestone for the first time this month. Despite this week̵

7;s decline, Bitcoin has risen by more than 60% so far in 2021.



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Investor Mike Novogratz said that as more companies adopt cryptocurrencies, Bitcoin will exceed $100,000 this year


Bitcoin has a market value of approximately $850 billion, which is larger than Tesla or Facebook and almost twice that of Warren Buffett’s Berkshire Hathaway. In 2021 alone, the market value of Bitcoin has increased by more than $400 billion, surpassing most traditional assets.

The surge in digital assets is due to signs that it has won wider institutional recognition because it has attracted many well-known Wall Street investors including Stanley Druckenmiller and Paul Tudor Jones. Earlier this week, Jack Dorsey’s financial services company Square increased its Bitcoin holdings by $170 million as part of an ongoing commitment to cryptocurrencies.



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The bug Peter Schiff says that the $50,000 Bitcoin is the biggest bubble


Another important step is that BNY Mellon, the oldest bank in the United States, stated that it will transfer and issue bitcoin for its institutional clients. Credit card giant MasterCard announced that it will start allowing customers to pay in certain cryptocurrencies on its network this year. Visa also stated that it is considering allowing cryptocurrency payments in legal countries.

However, skeptics still say that Bitcoin’s rebound is unsustainable and warn that the cryptocurrency market is another bubble that may burst at any time. JP Morgan recently called the token an “economic side show” and pointed out that mainstream adoption actually reduces the benefits of diversification into Bitcoin.

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