Bitcoin Hits $50,000 — and the Rally Just Started
Bitcoin has had an incredible run since it first started trading in 2010.
The cryptocurrency initially cost less than a penny. But earlier this week, it passed the $50,000 mark for the first time.
There are three big pieces of news behind its latest uptrend:
- Tesla added $1.5 billion in bitcoin to its cash holdings.
- Mastercard will allow some of its merchants to accept cryptocurrencies as payment.
- A major New York bank announced it will begin holding cryptos for its clients.
In today’s Market Insights video, I explain what these developments mean for bitcoin, and where the crypto’s price could be headed next.
Editor, Automatic Fortunes