How much would I have if I invested $1000 in Bitcoin? Musk is no longer the richest man in the world due to the recession, but after the sudden rise in value, Musk may have occupied His first place again.
How to invest in Bitcoin 2021, Bitcoin has bounced back above $ 50,000.Bitcoin remains the world's largest cryptocurrency by market value and the latest jump comes because Jack Dorsey, a company called Square, recently bought an additional $ 170 million worth of the coin. Encrypted digital.
Bitcoin and new purchase from Square
Square announced during an earnings call earlier this week that the company had purchased 3318 bitcoins at a total purchase price of $ 170 million, Bitcoin is now considered to account for 5% of the company's total cash, marketable securities, and cash equivalents.
"The investment is part of Square's ongoing commitment to Bitcoin, and the company plans to evaluate its total investment in Bitcoin compared to its other investments on an ongoing basis," the company said.
Is investing in Bitcoin risky?
Bitcoin suffered huge losses earlier this week which also caused Elon Musk to lose $ 15 billion a day due to the devaluation of the cryptocurrency.
Bitcoin fluctuations have not been a major cause of concern for investors who remain unperturbed as Bitcoin tends to bounce back.
"We might see some fluctuations in prices that can be expected in an emerging location," Paolo Arduino, head of technology at Pete Phoenix, told Business Insider.
“This criticism misses the point and the profound effect it is beginning to have,” Arduino added. For many battle-tested exchanges that have escaped market volatility, volatility is not new and is to be expected in such a young market. ”
Bitcoin has seen massive gains over the past few months. Just last month in January 2021, Bitcoin reached $ 30,000 in value for the first time.
In roughly a month, the cryptocurrency is now trading in excess of $ 50,000 at the time of writing this story.
