{"id":33,"date":"2021-03-15T03:18:23","date_gmt":"2021-03-15T03:18:23","guid":{"rendered":"https:\/\/all-battery.co.uk\/blog\/?p=33"},"modified":"2021-03-15T03:18:23","modified_gmt":"2021-03-15T03:18:23","slug":"bitcoin-surges-past-60000-for-first-time","status":"publish","type":"post","link":"https:\/\/all-battery.co.uk\/blog\/archives\/33","title":{"rendered":"Bitcoin surges past $60,000 for first time"},"content":{"rendered":"\n

Cryptocurrency Bitcoin has risen for the first time above $60,000 (\u00a343,100), continuing its record-breaking run.<\/p>\n\n\n\n

Bitcoin – which has more than tripled in value since the end of last year – has been powered on by well-known companies adopting it as a method of payment.<\/p>\n\n\n\n

But some analysts said this latest surge came in part due to the huge US stimulus package approved this week.<\/p>\n\n\n\n

Bitcoin’s total market value last month exceeded $1tn.<\/p>\n\n\n\n

However, Bitcoin has a track record of wild price swings and has fallen sharply a number of times since it was created in 2009.<\/p>\n\n\n\n

Bitcoin hits new record of $50,000
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The recent spikes have been fuelled by big companies.<\/p>\n\n\n\n

In February, Elon Musk revealed that his electric carmaker Tesla had bought $1.5bn worth of Bitcoin and would be accepting it as payment for its cars in future.<\/p>\n\n\n\n

Mastercard also plans to accept certain cryptocurrencies as a form of payment while BlackRock, the world’s largest asset manager, is exploring ways it can use the digital currency.<\/p>\n\n\n\n

The Covid-19 pandemic has also played its part in Bitcoin’s price rise, as more people go online for shopping, moving further away from physical coins and notes.<\/p>\n\n\n\n

Critics argue Bitcoin is less of a currency and more of a speculative trading tool that is open to market manipulation.<\/p>\n\n\n\n

There is also concern over its environmental impact, with huge amounts of energy needed to conduct transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency Bitcoin has risen for the first time above $60,000 (\u00a343,100), continuing its record-breaking run. 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