BTC has climbed above the psychological price barrier of $50k, as Bitcoin rose beyond $50,600 on February 16, amid growing mainstream adoption and global acceptance.
Bitcoin (BTC) is having a truly historic day as BTC broke the psychological price barrier of $50,000 on Tuesday, February 16. BTC has reached a top of $50,689 at the time of writing.
The surge above $50k comes roughly a week after it was revealed the Elon Musk’s Tesla have invested $1.5 billion into Bitcoin, and is planning to accept Bitcoin as payment for its product in the future.
What many forget is that Tesla’s major BTC move has only been made public through filings with the Securities and Exchange Commission (SEC), and neither Tesla nor Elon Musk have yet to speak about their Bitcoin investment in public. When they actually decide to go public with their BTC holdings and future plans to accept BTC as payment, it will likely have a massive impact on the already surging Bitcoin and crypto markets, so we’re in for quite the ride.
Tesla and Elon Musk are just the tip of the iceberg of the current BTC craze, as mainstream acceptance and institutional interest in Bitcoin are both surging over recent months.
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Read more about Bitcoin adoption in our latest BTC article:
Director of Communications at Klever.io