The bull run of the cryptocurrency market leader is showing no signs of slowing down. Bitcoin hits a new lifetime high of $51,348 early today. It penetrated the level of $50,000 on Tuesday for the first time. Therefore, the price has risen by 53% this month alone.
At the time of writing this post, BTC trades at $51,468.51 and it’s never been a better moment to use it and play games at Instant withdrawal Casino Extreme.
The latest move up comes on the heels of an announcement by public listed company MicroStrategy that it plans to boost its bitcoin (BTC, +3.7%) stash again, Coindesk reported. The firm announced a $600 million debt sale on Tuesday, which will fund the additional purchases. The business intelligence firm has been buying bitcoin since August 2020. It is sitting on a profit of more than $2 billion on its holdings.
According to Avi Felman, head of trading at BlockTower Capital, MicroStrategy’s announcement may have been timed to force a break above the critical level of $50,000. The firm made a similar announcement on Dec. 7, following which bitcoin crossed above the then major hurdle of $20,000.
Bitcoin Hits a “New Normal”?
The new price high started a discussion on Twitter where some claim that $50k is a “new normal”.
“$50,000 #Bitcoin is the new normal,” Blockstream CSO Samson Mow declared on Wednesday.
Popular Twitter account Documenting Bitcoin added opinion about it.
“If you think $50,000 a bitcoin is expensive, wait until you hear that the government is about to print $1,900,000,000,000 out of thin air” they tweeted.