The price of Bitcoin broke the $ 50,000 barrier for the first time, bringing its performance in 2021 to 74%. What prompted it?
Adoption continues to drive the leading crypto
In the past the crypto market has witnessed how the adoption of Bitcoin by institutional investors has boosted its market valuation.
This time has not been the exception. Even though Bitcoin had been flirting with the $ 50,000 barrier for a couple of days, it was today after a MicroStrategy announcement that it managed to position itself to break it.
Specifically, the company announced its intention to sell approximately $ 600 million in notes to institutional investors with the aim of buying more Bitcoin.
Yes, apparently MicroStrategy is not satisfied with the 71,079 BTC it already owns and, therefore, wants to acquire more of the crypto.
And, as expected considering the past, the price of Bitcoin skyrocketed enough to break the $ 50,000 barrier and position its all-time high at roughly $ 50,540.
However, the leading crypto failed to hold onto the level and fell to $ 48,500, shedding 0.30% over the past 24 hours, according to CoinMarketCap.
Justin Sun denies paying for promotion
Marques Brownlee, a popular YouTuber, claimed in a posted video that he was offered “compensation” to promote crypto Tron, and that several other celebrities have already accepted this deal.
Specifically, Brownlee claims that he received an email asking for a promotional tweet for Tron. And besides, she was assured that other celebrities like Lindsay Lohan, Amanda Cerny, NeYo and Lil Yachty had accepted.
Curiously, Brownlee says that the email asked him that the Tweet must appear not to be sponsored.
However, Justin Sun took to Twitter to deny what he called “rumors.”
“There have been rumors lately that third-party celebrities are being paid to promote TRON. The TRON Foundation does not participate in these activities. The foundation is also not aware of the actors behind this. “Sun wrote.
But interestingly, last week Sun assured Bloomberg that he planned to hire more celebrities to promote crypto. So, is it pure chance?
NYDIG Submits Bitcoin ETF to SEC
New York Digital Investment Group, or NYDIG, filed documentation with the SEC to launch a new crypto exchange-traded Bitcoin fund (Bitcoin ETF).
One interesting aspect is that the SEC filing lists NYDIG Trust Company LLC as the fund’s Bitcoin custodian and Morgan Stanley as an authorized participant.
Miners accumulate the leading crypto
As we reported in CryptoTrend, data from Glassnode indicates that crypto miners are hoarding Bitcoin and are refusing to ditch the crypto.
According to Glassnode, this may be a bullish indicator as it suggests that «miners have completed adequate sales to cover costs. Or it could also mean that they see Tesla’s vote of confidence as a fair reason to maintain strong control over their treasuries.».
Coinbase Enables ETH 2.0 Staking List
Coinbase users can sign up to be “first in line” to earn Ethereum 2.0 staking rewards.
Therefore, crypto users who wish to block all or even part of their ETH holdings can sign up to win up to 7.5% on what they bet.
In a few lines …
- CryptoCompare Research published a report where it concluded that, of the 160 crypto exchanges analyzed, half control 85% of the market share.
- Lisa Edwards, Craig Wright’s sister, has set a price of $ 142,000 for Bitcoin.