The crypto market leader climbs almost to $ 53,000, defending the important $ 50,000 mark for another day.
Bitcoin ( BTC ) hit the next record high on February 19th, making the market-leading cryptocurrency now with a market capitalization of 1 trillion. US dollar takes hold.
New day, new record
As the data from Cointelegraph Markets and Tradingview show, the BTC / USD currency pair has now climbed to a new high of 52,932 US dollars thanks to a gain of 2%.
This means that Bitcoin has been able to defend the psychologically important US $ 50,000 mark over the past two days, which is in line with the forecasts of analysts who predict further gains for the crypto market leader in the short term.
The next important mark is on the way up at 53,600 US dollars, because here Bitcoin would have a market capitalization of over 1 trillion for the first time. US dollar crack.
“It’s actually very easy to understand. In the old world, your money loses its value because governments devalue their national currencies to finance wars and the welfare state, ”as crypto analyst PlanB explains . He adds:
“In the new world, #Bitcoin is gaining in value because the laws of mathematics limit the total amount in circulation to 21 million BTC. The new world is just eating up the old world. “
Grayscale is heating up the market again
In the meantime, the influential crypto wealth management company has bought another $ 87 million for its Bitcoin mutual fund (GBTC), new data reveal.
According to blockchain data service Bybt, 1,672 BTC were moved to the Grayscale flagship as of February 19, bringing the bitcoin mutual fund to more than $ 34 billion.
The latest investment increases the total value of Grayscale’s assets under management, i.e. Assets Under Management (AUM), to over $ 40 billion for the first time. The company’s Ethereum mutual fund is only $ 6 billion.
“The AUM have doubled since January 1st, 2021”, as Grayscale boss Michael Sonneshein proudly announced
The pace at which Grayscale buys Bitcoin had recently slowed down and compared to the beginning of the year, the steps became smaller and smaller. In February, the asset management had also started their ether purchases again.
The new investment, and the newfound enthusiasm, could possibly be due to the fact that other large investors are currently not slacking off. The software manufacturer MicroStrategy, which already owns more than 70,000 BTC, announced this week that it would generate a further 900 million US dollars for Bitcoin purchases.
The “secret world power” BlackRock, arguably the most influential asset management company in the world, confirmed this week that it “tried” Bitcoin.
„The decisive argument for the purchase of Bitcoin is the ability to diversify,“ as Sonnenshein Earlier this month, the attractiveness of cryptocurrency from the perspective of large investors declared had.