Tesla Inc. bought $1.5B worth of Bitcoin on Monday. Within two days the price of Bitcoin instantly entered the Bullrun moment exceeding the price of $48K breaks new record in All Time High on February 9, 2021. Tesla Inc. added a string of corporate companies that bought Bitcoin worth millions - billions dollars such as Microstrategy Inc, Square, JP Morgan, Citybank and PayPal that accept payments using Bitcoin. Tesla Inc purchased $1.5B purchase of bitcoin certainly had an impact on the soaring price of Bitcoin in the market, because one of the factors of Bitcoin's soaring price is high market demand.
Bitcoin chart above shows Bitcoin performance entering bullrun moment breaks new record in All Time High and peaked on February 9, reaching the price of $48K USD after Tesla Inc. bought Bitcoin worth $1.5B USD. Earlier, Tesla's CEO Elon Musk also encouraged to buy Bitcoin with creating #Bitcoin hashtag on his Twitter profile, this action also having good impact to the price of Bitcoin and its will possible Bitcoin continuosly breaks another record in All Time High.
The soaring price of Bitcoin makes it likely that many whale's companies such as Google, Facebook, Apple, and others will be interested in diversifying their assets into Bitcoin and adopting a payment system in the form of Bitcoin. If massive purchases or demand continue to occur, then most likely the price of Bitcoin will continue increase as JP Morgan previously predicted the price of Bitcoin could reach $146K USD in this year or next year. This is very possible to happens because people already understand about the fundamentals of Bitcoin, not only in terms of demand but from the supply side of Bitcoin having maximum 21 million units of Bitcoin. Currently, there are 18.5 million in circulation.
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