The price of the bitcoin, used as a digital currency, crossed the $50,000 mark for the first time.
According to the details, the world’s most popular cryptocurrency bitcoin has crossed the limit of $50,000 dollars (more than 8 million Pakistani rupees) for the first time.
Bitcoin has seen a significant increase in value in recent months, having previously crossed the $10,000 mark for the first time in 2017 and $20,000 in 2020. The market value of the bitcoin has now reached $930 billion.
According to the report, the price of bitcoin touched the level of $50,689 on Tuesday, but then it started declining and fell below the level of $50,000.
It should be noted that in the last few days, the well-known American electric car company Tesla had bought bitcoins worth $1.5 billion, after which the prices of bitcoins skyrocketed, and its price jumped from $38,000 to $46,000.
Bitcoin prices fluctuate, but analysts say prices are more likely to remain stable this time around than in the past.
Interestingly, investors at the corporate level are now buying the cryptocurrency, and they see a future for it. In 2017, the value of this currency increased by more than 900%, but due to the warnings of financial experts, in February 2018, its value fell below $7,000 dollars.