BOB fm

Latest news, breaking news and current affairs coverage from across the UK

Bitcoin transactions reach an unprecedented value of around 53,000 euros

The value of Bitcoin transactions, the most used cryptocurrency, rose on Tuesday due to investor fear of inflation and topped 63,000 (53,000 euros), reaching an unprecedented amount, close to 64,000.

Bloomberg data shows that this virtual currency reached $ 63,728, a new all-time high, although it later declined to $ 63,100.

Diego Morin, of IG, links the rise of cryptocurrencies to central bank monetary policy, and more regularly, with the next list on cryptocurrency investment platform Coinbase, which opens on Nasdaq on Wednesday.

“The continued injection of liquidity from central banks, as well as the stimulus program from the Biden government, are causing investors to switch to other interest-bearing assets,” he said.

Raul Lopez, Spain’s director of cryptocurrency provider Coinmotion, pointed to the entry into the Coinbase exchange and the growing interest of companies and institutional investors.

“Confidence in the cryptocurrency market has intensified in recent weeks, with news of Visa and Paypal accepting payments in cryptocurrencies,” Lopez recalls.

In the specific case of ether, the Coinmotion boss also indicates the Ethereum network update scheduled for Wednesday.

READ  Market Size Estimates, Business English Language Training 2021-2026, Segments, Product Specifications, Leading Company Profiles With Future Performance, Prospects, Growth Opportunities And Constraints