Shortly after achieving these astronomical new heights, Bitcoin’s price fell back toward $62,700 before recovering slightly to around $64,500, while most altcoins endured near double-digit losses.
It came after the electric car company bought $1.5b (£1.06b) of Bitcoin shares, which in turn sent the market price of both the crypto and Tesla soaring.
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“I like the word ‘moon,’ because that’s where I want it to go,” Portnoy said in his purchase announcement.
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Bitcoin’s price has taken a wild ride so far in 2021, and in November set another new all-time high price when it went over $68,000. This latest record high follows previous high points over $60,000 in April and October, as well as a summer drop to less than $30,000 in July. This volatility is a big part of why experts recommend keeping your crypto investments to less than 5% of your portfolio to begin with.
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One of the fastest-growing pension markets in the world could be about to dive into crypto.
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A top official said Zimbabwe is looking to allow cryptocurrency as legal payment, according to a local report Sunday.
Some experts say this is high risk as SafeMoon’s success relies heavily on more and more people buying the currency to keep the price up.
SafeMoon is one of the most popular new cryptocurrencies of 2021, but can you buy the currency on the Coinbase or Binance exchanges?
SAN DIEGO (AP) — A Los Angeles man pleaded guilty Wednesday to participating in what prosecutors called a “textbook Ponzi scheme” that defrauded cryptocurrency investors worldwide of more than $2 billion.
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Cryptocurrency can gain value on exchange platforms. It increases in value based on supply and demand.
Before interacting with any given asset, it may be important to look up the asset’s type and function depending on your goals. Not all digital assets were created for investment purposes.
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Bitcoin mining is raising concerns about its negative impact on the environment. According to the Cambridge Bitcoin Electricity Consumption Index, the industry consumes more electricity than the Netherlands and slightly less electricity than the United Arab Emirates.