The price of Bitcoin (BTC) surpassed $ 55,000 per token on Wednesday, a level it hadn't reached in five months. The spike of about 10% happened in just a few hours and is ascribed to the fact that billionaire George Soros' investment fund confirmed that it is investing in bitcoin.
It all started when Bitcoin broke through the $ 50,000 mark for the first time in four weeks the day before. Dawn Fitzpatrick, the chief investment officer of Soros Fund Management, commented about the cryptocurrency's long-term potential on the same Tuesday night, October 5. Bitcoin, he continued, is a portable asset that is easy to keep and transfer, with an inflation rate of half every four years.
We love to hear new ideas from traders and want to know what you think!
If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.
