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Markets Bitcoin has surpassed its already record high of 64,889 in April. A couple hours ago it reached 65 thousand now it jumps by another thousand dollars in market cap value. The coin was on an all time low going to the 50s and even 40 thousand dollar area. Losing over 200 billion dollar in market cap. The coin is the largest in value and market cap in the crypto industry even rivaling company’s as Amazon and Tesla because of its over 1.2 Trillion dollars market cap. 1.2 trillion makes it have over 5 percent of the U.S 2020 GDP. Bitcoin is not just a cryptocurrency some view the crypto coin as to solve the problem of the Federal Reserve printing unlimited amount of money whenever it wants to bail its multi billion or trillion dollar company’s like apple, amazon. Bitcoin is all set to limit inflation number as to the max limit to its supply is 21 million coins at any time. Which means it cannot inflate. It also gives users the anonymity they want for good or some for bad. The Treasury Department asked Congress to be able to see bank accounts which transfer 10,000 dollars a year to make billionaires pay money. The Treasury Department is clearly using this to see middle income family revenue. No multi millionaire let alone billionaire would just have a 10,000 bank account a year. And bitcoin helps prevent this because there is not centralized Bank or government or individual in control of the follow of the coins. Bitcoin current market cap is around 66,671.89 dollars. The closet rival to bitcoin Ethereum is over 62,000 behind the value of bitcoin. Bitcoin is one of the leading crypto currencies the closet rival to it seems years away the current bitcoin. Some investors laughed saying Bitcoin was losing billions in a matter of days while other investors pointed out that this is a frequent occurrence in bitcoin pointing out data which documented similar situations of bitcoin’s history.
Bitcoin is a very volatile currency some investors like Warren Buffet do not like Bitcoin or cryptocurrencies at all. Warren has been providing good dividend yields to investors in his company which are very stable and high dividend yields compared to the Stock market, but to say it, it is nothing compared to the amount of values Bitcoin has brought to it’s faithful investors. Bringing in double digit percentile returns in the tens of thousands of dollars of profit in the years of their investment. Countries such as El Salvador in September 7, 2021 has been bitcoin a legal currency which was a surprise yo the entire world as being the first country to ever do so. El Salvador not only made it a legal currency but they mandated that every one use bitcoin or their an outlaw. Ethereum founder Vitalik Buterin blasted the mandated in a tweet saying that forcing people to use crypt currency on day to day life was not the spirit of crypto currency. Others said that Vitalik was trying his best to make Ethereum beat bitcoin and that this was another step for bitcoin to be more ahead than Ethereum. According to Coin Base Bitcoin has a market cap of 1,256,380,095,478 dollars. Bitcoin is a currency not to be seen lightly of. Even Russia President Vladimir Putin on crypto said this: “has the right to exist and can be used as a means of payment,” The president said on a CNBC interview. This is one of the biggest public statements which help Bitcoin and help Cryptocurrencies overall. Putin’s support comes after the U.S is trying to track crypto transactions, even if no centralized power can give them any data on the coins transactions and recipient.