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CRYPTOCURRENCY - Bitcoin falls below $50K level

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The price of Bitcoin decreased below 50,000 dollars level on a general bales level in the markets, after surging to a new all-time high of 58,330.57 dollars, with the support of rapidly increasing corporate purchases recently. 

NEWS IN ENGLISH 25.02.2021, 08:51
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CRYPTOCURRENCY - Bitcoin falls below $50K level
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Bitcoin decreased by 2.53 percent in the last 24 hours to 49,871.35 dollars, after fluctuating between 48,240.07 and 51,287.49 dollars, while the weekly loss of the currency was calculated at 4.07 percent. Bitcoin's total market volume was at 927 billion dollars.


With increasing corporate purchases, the total market capitalisation, which exceeded the 1.5 trillion dollar limit for the first time in history on February 15, was at 1.5 trillion dollars in the early hours of Thursday.


While the value of 83 units decreased from the highest volume of 100 units in the last 24 hours in the crypto money markets, eight of the top 10 units were among those that fell.


Bitcoin accounted for 61.7 percent of the total market volume in 34,674 markets where 8,591 cryptocurrencies were traded, while the 24-hour trading volume in all markets was at 156 billion dollars.
Academic publishing platform said on Thursday that, "Alongside traditional payment methods, we would like to announce that we now accept Bitcoin, Ethereum, and other cryptocurrencies as payment in the Ancient Origins Store."


"Ancient Origins offers support for a decentralized financial system and the cryptocurrency industry as it continues towards mainstream market acceptance. But the main reason for this decision is to allow you to make digital payments – traditional or crypto – with the method you want. You should have a choice, it’s your money" it said.


In the latest development, Dubai’s private equity investment firm IBC Group has pledged 100,000 Bitcoins worth $4.8 billion to boost the development of the Miami 2.0 Blockchain Strategy Foundation.


Chairman of Dubai’s IBC Group Khurram Shroff is reportedly behind this transaction reports Trade Arabia. The development of the Miami 2.0 Blockchain Strategy has caught pace in recent times. By the end of 2021, the blockchain platform is likely to transact around $200 billion per day.


This pledge by the IBC Group will be the biggest in the history of Bitcoin significantly boosting the adoption of digital currencies. This pledge of 100,000 Bitcoins will help fuel Miami’s ambition of integrating Bitcoin in daily transactions. Shroff said:


"Making the largest Bitcoin investment in history is proof of our commitment to assisting cities to adopt Blockchain, which we see as the key to enabling widespread adoption." 


 

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