Bitcoin rose 30% in a week, breaking through $40000, and several giant enterprises announced their entry

In the recent week, the encryption market showed an upward trend, with an increase of 30%, breaking through $40000 for many times. Bitcoin has rebounded after two months of shock and downward decline. As of the time of publication, bitcoin is now at $40001.22, up 8.11% in 24 hours, reaching a maximum of $40556. With the latest round of traditional giant enterprises’ attention and participation in the encryption market, the encryption market seems to usher in a recovery. Wang Haifeng, a researcher at auco cloud Chain Research Institute, told our reporter: “the price fluctuation of any investment subject matter is completely driven by the overall market, and is not transferred by any unilateral factors or the will of anyone. Therefore, it is impossible to predict the market rise and fall trend in the near future. According to oklink data, bitcoin’s market price has continued to rise in recent years, once breaking through the $40000 round mark, reaching a new high since June 16. ” This round of rise and a number of giant enterprises release encryption related news is quite close. Our reporter learned that recently, although Amazon has denied accepting bitcoin payment and issuing cryptocurrency, it has also said that it will continue to explore cryptocurrency. The news that Amazon may pay bitcoin is the main reason for the rise. JPMorgan has also provided bitcoin services to retail customers, which previously only offered bitcoin services to institutional clients or high net worth customers. Capital group, an asset giant with trillions of dollars in management, disclosed that its capital international investors had acquired a 12.2% stake in MicroStrategy, more than $500 million. MicroStrategy is currently one of the largest bitcoin investors in the world, with 105100 bitcoins. The move also indicates that capital group has an indirect exposure to LTC. Wang Haifeng said that the market generally believed that Musk’s announcement that Tesla would return to accept bitcoin and disclosed that another SpaceX company owned bitcoin was the main reason for the rise in bitcoin prices. However, from a comprehensive historical point of view, the price of digital asset market itself fluctuates greatly, and the rapid rise of the market in the short term should be the result of the comprehensive characteristics of the market, and investors should treat it rationally. On July 27, Tesla released its second quarter quarterly report, showing a net worth of $1.311 billion as of June 30. In the six months ended June 30, 2021, Tesla purchased a total of $1.5 billion of bitcoin and held a fair market value of $1.47 billion. In the first quarter of 2021, Tesla’s total investment in bitcoin reached US $1.5 billion, which means that Tesla did not invest or sell bitcoin in the second quarter. In addition, payment in bitcoin for certain products was accepted in certain regions for the three months ending March 31, 2021, and the acceptance of bitcoin payments was suspended in May 2021 in order to comply with the relevant laws. According to the second quarter report, Tesla may restart receiving bitcoin payment for its products and services in the future. Tesla owns and controls its digital assets and mentions the possibility of using third-party hosting services. In April, Tesla announced that it sold $272 million worth of bitcoin (about 10% of its position at that time) and made a profit of $101 million from the first quarter report previously provided to regulators. As mentioned in Tesla’s second quarter results, we believe that the long-term potential of digital assets can be used both as an investment and as a liquidity substitute for cash. As with any investment, and in line with the way we manage our legal cash and cash equivalents based accounts, we can increase or decrease our holdings of digital assets at any time, depending on the needs of our business and our view of market and environmental conditions. On the risk of digital assets, Tesla notes that the popularity of such assets is a relatively new trend, and their long-term adoption by investors, consumers and businesses is unpredictable. They lack physical form, and their decentralized characteristics may make their integrity threatened by malicious attacks and outdated technologies. Bitcoin is an intangible asset without centralized issuers or management agencies. Digital assets have been and may be affected by security vulnerabilities, network attacks or other malicious activities in the future, and may lead to the loss or artificial destruction of private keys needed to access such assets. China Times

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