The State Of The Crypto World And Support To Bitcoin From The World's Richest Person

  Tesla (TSLA) CEO Elon Musk said Bitcoin is on the verge of widespread acceptance from the traditional financial world. While Bitcoin stocks are mixed, its value is on the rise. Musk, who took over the title of the richest person in the world from Amazon (AMZN) CEO Jeff Bezos last month, presented the latest support signal for the cryptocurrency in a chat on the chat app Clubhouse. According to various media organizations, Musk said,

"At this point I think Bitcoin is a good thing. I am also a Bitcoin supporter"

Last Friday, Musk added the Bitcoin hashtag to the biography section of his Twitter account. This resulted in a series of price fluctuations last month that allowed Bitcoin to hit an all-time high of $ 41,940. Bitcoin soon fell below $ 30,000.

Bitcoin Price, Bitcoin Stocks

Bitcoin rose 2.8 percent to $ 33,776. Among Bitcoin stocks, Grayscale Bitcoin Trust (GBTC), which tracks Bitcoin's movement, has dropped 2.1 percent on the stock market today. Among other Bitcoin moves, PayPal (PYPL) increased 3.2 percent and Square (SQ) increased 2.8 percent. According to CoinMarketCap, Bitcoin currently has a market capitalization of over $ 628 billion. The cryptocurrency has been gaining general acceptance since last year.

• PayPal allowed users to buy and sell cryptocurrencies from their own accounts.
• Square allowed Cash App users to automatically make recurring Bitcoin purchases and purchased $ 50 million in digital assets.
• Massachusetts Mutual Life Insurance purchased $ 100 million worth of Bitcoin for its general investment fund.
• American Express Ventures invested in a cryptocurrency trading platform.
• Visa (V) will offer a credit card that allows users to earn money back in the form of Bitcoin.
• JPMorgan (JPM) has put its digital currency into commercial use.

  The State Of The Crypto World And Support To Bitcoin From The World's Richest Source: https://www.investors.com/ You may also be interested in this:

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