Bitcoin Just Surpassed $51,000 Level: Possible Reasons

Wednesday 03 March 2021, 8:25 PM AEST - 1 month ago

Bitcoin Just Surpassed $51,000 Level: Possible ReasonsCover image via stock.adobe.com

Bitcoin continues reclaiming its recent losses. It has just exceeded the $51,000 price level.

Image via TradingView

Bitcoin goes above $51,000, here's what may have driven it up

It has happened after several major figures from the financial world have changed their Bitcoin stance and made bullish statements on the world's biggest cryptocurrency.

Shark Tank's Kevin OLeary (also known as "Mr. Wonderful") has become a Bitcoin supporter and announced that he intends to spread three percent of his portfolio between Bitcoin and Ethereum.

Later on, he stated that he wants to invest in eco-friendly Bitcoin mining—but not in China.

The other influential figure who has issued a positive statement on Bitcoin is the SEC chair nominee (picked by U.S. President Joe Biden), Gary Gensler, who has called cryptocurrencies a "catalyst for change."

Twitter is raising $1.25 billion—to buy Bitcoin?

Besides, the recent announcement that Twitter is raising $1.25 billion in convertible notes has led the community to believe that Jack Dorsey wants to put Bitcoin onto Twitter's balance sheet.

Read full story on U.Today

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