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Bitcoin price rises significantly: Investors are investing in mining stocks

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Bitcoin price rises sharply: Investors are investing in mining stocks

The Bitcoin price has returned to its May level.

The Bitcoin price has returned to its May level.

Photo: Getty Images /

Updated: 08/10/2021 – 5:04 pm

The Bitcoin price increases significantly compared to the previous month. Even regulatory concerns cannot affect him at the moment.

The Bitcoin exchange rate temporarily broke the $ 46,000 barrier. This is the highest level that the cryptocurrency has recorded since May.

Bitcoin cryptocurrency is rising again

Current Bitcoin Price: 39,176.06 euros – 45,975.71 dollars (as of 8/10/2021; 10:43 a.m.). Especially compared to the previous month, the cryptocurrency almost doubled.

  • Previous day: +1.52%
  • Previous week: + 14.49%
  • Previous month: +34.52%

Bitcoin price is on an upswing

Meanwhile, lobbyists in the US Senate are campaigning against stricter regulations on currencies – the Joe Biden government wants to tax cryptos more heavily. However, the project failed, as the Handelsblatt reported. Nevertheless, the price of the cryptocurrency remained stable.

Because of the good performance of Bitcoin, stocks of companies that operate mining have gained in popularity. Bitmining’s prices have increased by 52.77% in the past few days (as of 08/10/2021; 10:51 a.m.). Bitfarms saw a 51.25% increase in the past five days.

Elon Musk owns Bitcoin

“I own Bitcoin, Tesla owns Bitcoin, SpaceX owns Bitcoin,” Elon Musk explained in an interview with Jack Dorsey, Cathie Wood and Steve Lee. He recently appeared as a speaker at “The B Word” on the subject of “Bitcoin as a tool for economic empowerment”. With this statement alone, the entrepreneur apparently raised the hopes of many fans. The fact that SpaceX held cryptos was not publicly known to date.

In addition, he gave the Bitcoin course another push. The purchase of Teslas using Bitcoin will be possible again as soon as it is “approximately half powered by renewable energies,” said Musk. The entrepreneur is optimistic that “that will be the case”.

“Wolf of Wall Street” comments on Bitcoin

In addition to Elon Musk, Jordan Belfort also commented on Bitcoin and Ethereum. In the CoinDesk interview, he fires against theters and shotcoins. At the same time, the “Wolf of Wall Street” explains that regulatory measures for Bitcoin and the crypto market in general are needed. That could strengthen the industry.

Bitcoin: price increase – analyst was right

A few weeks ago, an analyst predicted that the Bitcoin price would soar again.

Sources: The B Word, CNBC, BTC-Echo, Handelsblatt, Onvista, own research

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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