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What’s the Story with Bitcoin Surge?

By February 18, 2021 No Comments

Bitcoin is in focus these days, thanks to its tremendous increase in price. At the moment of writing of this text, BTC price is set at $51,492.10. Bitcoin surge has surprised some, while others welcomed the news with “I told you so” kind of attitude. One thing is for sure, Bitcoin has become a serious player. Let’s see what this Bitcoin surge means to various industries.

Bitcoin Surge in Numbers  

Did you know that BTC price increased nearly 200% since December? $50k was once the far-fetched barrier. However, Bitcoin broke it and keeps moving around it for days. Its initial 21 million units was reduced to 18.6 million bitcoins circulating at the moment. Bitcon’s market cap of $961.7 billion is still the strongest one among cryptos.

Support from Major Players

But what all of these numbers stand for? Simply, the figures indicate its future wider acceptance. Major companies have influence over the rallying of bitcoin.

For example, you must have spotted the announcement from Tesla regarding the acquisition of $1.5 billion in bitcoins as an investment. Also, they announced the acceptance of BTC as a means of payment for cars. Other companies have joined the support for Bitcoin, such as MicroStartegy, and Jack Dorsey’s Square – just to name a few. We also must not forget the Mastercard, which announced opening its network for selected companies, as reported by CNBC.

How Stable is Bitcoin?

I think bitcoin is a much more stable asset class today than it was three years ago,” said Michael Saylor, CEO of MicroStrategy.

Although being the cryptocurrency, which by itself implies the possibility of frequent change in price, Bitcoin appears to be stronger and more stable today. At least, according to MicroStrategy, and other big fintech companies.

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What Can You Do with Bitcoins?

Basically, Bitcoin network relies on consensus and this appears to be sufficient. Nowadays, you can exchange Bitcoin for fiat currencies worldwide. Moreover, you can trade it for gold, for example. Not to mention that these transactions include very low fees.

Some online stores already accept bitcoins for various items. Furthermore, PayPal features Bitcoin, among other cryptos, for buying and holding as well.  Nevertheless, PayPal apparently still has no option to transfer bitcoins to other user. Whether this will become an option soon, we will see.

On the other hand, many people use bitcoin as a store of value, which is what is initially envisioned purpose was. Researching the extent of its liquidity is one thing. However, we cannot overlook the fact that liquid Bitcoin is a good investment. This applies especially for short-term profits.

However, this doesn’t mean that we should look at bitcoin only in short term aspects. Namely, crypto currencies which are in high demand usually make a good long-term investment as well. We wrote extensively about Bitcoin in the past. Feel free to browse our blog for more information on possible uses of BTC, on Bitcoin surge, or fun facts.

What About Bitcoin and Gaming?

Finding the balance between the short-term and long-term aspects could be crucial in handling your cryptos. Regardless of the big movements on the market, as well as sudden Bitcoin surge or its downfall, Bitcoin remains one of the fastest cryptos.

Our bet safe Casino Brango hosts some of the safest payment methods, Bitcoin being one of them. When you play at crypto casino, such as this one is, you can rest assured that your deposits and withdrawals will be processed instantly and anonymously.

Use the benefits of playing safely and collecting your money instantly!

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