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Bitcoin Hits $40,000 for First Time, Pushing Cryptocurrency Market Value Past $1 Trillion

Written by:
Aaron Goldstein
Published on:
Jan/07/2021

Bitcoin smashed through $38,000 to hit a new record high on Thursday as the cryptocurrency’s massive rally continues, then the $39,000 mark just prior to 11 am ET.  As of Thursday morning, the price of Bitcoin was $39,593.

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The cryptocurrency is up about 30% since the start of 2021 and in the past 12 months has surged nearly 370%.

Bitcoin is the most utilized payment option for those online gambling companies operating in restrictive markets.

From CNBC:

Many bitcoin bulls say the cryptocurrency is akin to “digital gold,” a potential safe haven asset and a hedge against inflation. In a recent research note, JPMorgan said bitcoin could hit $146,000 in the long term as it competes with gold as an “alternative” currency. The investment bank’s strategists noted that bitcoin would have to become substantially less volatile to reach this price, however. Bitcoin is known for wild price swings.

The idea of bitcoin as a hedge against inflation has continued to gain steam as governments around the world embark on large-scale fiscal stimulus programs. Analysts argue this could cause a spike in inflation.

- Aaron Goldstein, Gambling911.com

Business/Financial News

Bitcoin Hits One-Week Low as Rising U.S. Yields Dent Rally

Bitcoin Hits One-Week Low as Rising U.S. Yields Dent Rally

Cryptocurrencies plunged on Monday, with bitcoin dropping more than 12% to a one-week low

PayPal Backs Crypto Tax Startup Taxbit

PayPal Backs Crypto Tax Startup Taxbit

PayPal Holdings Inc’s venture arm has made an investment in Salt Lake City, Utah-based tech startup Taxbit, which helps consumers and businesses calculate the taxes owed on cryptocurrency holdings, the companies said on Thursday.

Bitcoin Crosses $30K Mark First Time Ever

Bitcoin Crosses $30K Mark First Time Ever

Digital currency Bitcoin extended its record smashing rally on Saturday, beginning the year with a surge over $30,000 for the first time, with ever more traders and investors betting that it is on its way to becoming a mainstream payment method.

Bitcoin Climbs Over $29K

Bitcoin Climbs Over $29K

Bitcoin, the digital currency preferred by online gambling sites in restrictive markets, has shot to 29,230.10 Wednesday evening.

Bet the Price of Bitcoin

With Bitcoin surging again BetOnline is now offering odds on where the price of the digital currency will finish in 2020. If you believe in their numbers, go buy a couple of coins right now.

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