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October 4, 2022
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Asian markets help and Bitcoin sets new $ 48,000 historic record

Getting closer to $ 100,000!

Bitcoin’s price reached a new historic record today. According to CoinMarketCap, BTC today reached $ 48,003, while CoinGecko reports that it reached $ 48,025.

Yesterday, after publishing the news that Tesla had invested $ 1.5 billion in Bitcoin, the price of BTC literally skyrocketed, from $ 39,000 to $ 43,000 in a matter of minutes, but the hike did not end there.

In fact, the news arrived while it was still morning in the United States and, throughout the day, managed to convince many more people to buy Bitcoin. Therefore, after the closure of its traditional financial markets, the price of BTC had already risen to $ 47,000.

That is, it was a 20% increase in twelve hours.

Overnight, it was Asian markets that continued to rise, so this morning there was a further rise that took Bitcoin’s price to $ 48,000.

Bitcoin at all-time high due to Tesla and Apple

The fact is that yesterday, after news of Tesla’s investment, rumors of a possible Apple investment also began to circulate.

According to Reuters, one RBC Capital Markets report suggests that the company would have the opportunity to increase its market value by announcing its entry into the cryptocurrency industry.

Therefore, two hypotheses are circulating: the first is that Apple could launch its own cryptocurrency buying and selling service, or even its own exchange, while the second is that it could follow Tesla’s example and invest directly in BTC.

Yesterday, Tesla’s stock price rose 3% during pre-market trading after the investment news was published, although it stabilized at a lower level.

However, Tesla is unlikely to be an isolated case. There are already other companies that have converted part of their cash reserves into Bitcoin, and it cannot be excluded that others will do the same. The more widespread the fear of a significant increase in dollar inflation, the more attention these companies will give to Bitcoin.

Source: Cryptonomist

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