Bitcoin's Record Series Continues!

The record series of Bitcoin, which was on the rise after Tesla's purchase of BTC, continues.

Bitcoin’s record series continues. BTC, which was on the rise with the announcement that Tesla, the electric car manufacturer founded by Elon Musk, purchased $ 1.5 billion worth of Bitcoin, set a new record after the positive statements of players such as Mastercard and Bank of New York Mellon. The leading cryptocurrency reached the level of $ 48,930 on the last trading day of the week. Bitcoin broke a historical record by reaching the level of $48,930 in the morning hours on Friday. The Bloomberg Cyrpto Index, which hosts more cryptocurrencies, has likewise hit a new record. It has been observed that the statements made by the companies and payment giants have had an effect on the record levels seen in crypto coins recently. Statements made by Mastercard and Bank of New York Mellon after Tesla's Bitcoin investment also increased the risk appetite in the cryptocurrency market. The Bank of New York Mellon Corp announced that it will perform services such as holding, transferring and issuing Bitcoin and other digital currencies for its corporate customers. In the statement made by Mastercard, it was stated that those who deal with trade will be allowed to accept payments with cryptocurrencies. Ed Moya, senior market analyst at Oanda Corp, stated that Mastercard and BNY Mellon's statements confirm that financial institutions have a fundamental orientation towards cryptocurrencies. Moya said, “They are great news for the widespread adoption of cryptocurrencies and they can keep the excitement for Bitcoin.”   “You Should Not Expect Big Companies to Follow Tesla” JPMorgan said that other big companies should not be expected to make a move similar to that of Tesla. JPMorgan strategists, who previously stated that their long-term goals in Bitcoin were 146 thousand dollars, examined the expectations for the inclusion of Bitcoin in the company balance sheets after Tesla's investment of 1.5 billion dollars. Strategists noted that other large institutions should not be expected to follow Tesla's decision to add Bitcoin to its balance sheet. The strategists also stated that the key factor for companies' decisions to invest in Bitcoin will be the state of the volatility in the cryptocurrency. The note stated, "Institutional portfolios typically include bank deposits, money market funds, and short-term bonds. This means annual volatility is hovering around 1 percent. 1 percent Bitcoin in the portfolio can be a source of serious volatility." The strategists of the institution also made evaluations about the price movements after Tesla's investment decision. Accordingly, it was noted that the rise in Bitcoin that started with Tesla will be less dependent on speculative institutional inflows.