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Bitcoin over 50k and the other most important news of the week!

Photo of: Joseph Stone
by Joseph Stone

A Bitcoin costs over $50,000

Just two months ago, Bitcoin (BTC) surpassed its historical record of $20,000. Since then, interest in BTC has surpassed all comprehension and its price has continued its meteoric rise, to the point of exceeding $50,000 this week. Among the many factors that explain this surge and this craze, there is obviously the interest of very big players such as Visa, PayPal, Grayscale, Microstrategy or Tesla who did not hesitate to buy $1.5 billion worth of Bitcoin a few days ago. Other major players in the market are also showing interest in the now very attractive Bitcoin, the latest being BlackRock…

BlackRock arrives in Bitcoin

Beware a very big player is coming into the Bitcoin universe: BlackRock, which is simply the largest asset manager in the world with more than 6,000 billion dollars under management. Rick Rieder, BlackRock’s Chief Investment Officer said this week in an interview on CNBC that the company has started to “test the waters”. “Technology and regulations have changed, making many people say that Bitcoin should be part of a portfolio,” he said. However, he did not comment on what percentage of Bitcoin should be in a portfolio. But the answer is likely to come in the next few weeks.

Deustche Bank arrives in cryptocurrencies

Deutsche Bank, Germany’s largest bank, is interested in Bitcoin and cryptocurrencies. This is obviously a very strong sign coming from traditional finance, which until then had been denigrating Bitcoin, to say the least. Thus, we learned this week that the famous German bank was beginning to take an interest in cryptocurrencies thanks to a document from the World Economic Forum which states that the German bank was planning to create a “secure gateway between their customers’ digital assets and traditional banking services”, understand that the Deustche Bank will offer cryptocurrencies custody services. This news comes after another equally symbolic one: BNY Mellon, the oldest bank in the US, will hold, transfer and “issue” Bitcoins (BTCs) and other crypto-actives.

The CEO of Twitter and Jay-Z in Bitcoin promo mode

The bearded Jack Dorsey, the CEO of Twitter, is teaming up with Jay-Z, the American rap megastar, to donate 500 Bitcoins ($23.5 million) to fund the BTC’s global development. The funds will go to a new foundation called ₿trust whose mission will initially be to build teams in Africa and India to promote the most famous cryptocurrencies.