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| Will latest drop stop bitcoin’s fevered rally? RT’s Boom Bust finds out | Will latest drop stop bitcoin’s fevered rally? RT’s Boom Bust finds out |
| (7 months later) | |
| After nearly doubling in value this year alone, bitcoin took a hit this week, falling around 10 percent to under $50,000 over the last 24 hours. | After nearly doubling in value this year alone, bitcoin took a hit this week, falling around 10 percent to under $50,000 over the last 24 hours. |
| RT’s Boom Bust is joined by Ben Swann to discuss what’s next for the cryptocurrency whose market value increased nearly 400 percent in 2020. | RT’s Boom Bust is joined by Ben Swann to discuss what’s next for the cryptocurrency whose market value increased nearly 400 percent in 2020. |
| Although bitcoin’s price was significantly boosted by Tesla’s decision to buy $1.5 billion worth of the asset, the surge of the world’s most valued digital currency was impacted by a wide range of additional factors, according to Swann. | Although bitcoin’s price was significantly boosted by Tesla’s decision to buy $1.5 billion worth of the asset, the surge of the world’s most valued digital currency was impacted by a wide range of additional factors, according to Swann. |
| “That [Tesla’s move] gets a lot of media attention… but MicroStrategy… just went out and raised $1 billion to buy a billion dollars worth of bitcoin,” he said, highlighting that this means MicroStrategy will be buying $2,000 worth of bitcoin every second. | “That [Tesla’s move] gets a lot of media attention… but MicroStrategy… just went out and raised $1 billion to buy a billion dollars worth of bitcoin,” he said, highlighting that this means MicroStrategy will be buying $2,000 worth of bitcoin every second. |
| The journalist stressed that despite the latest drop, and taking into account the incredible amount of interest in the cryptocurrency, the trajectory continues upward and onward, and at a fevered pitch. | The journalist stressed that despite the latest drop, and taking into account the incredible amount of interest in the cryptocurrency, the trajectory continues upward and onward, and at a fevered pitch. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
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