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Bitcoin in strength. The price is the highest in a few months. “Record level”

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Bitcoin is gaining

Until May 10, the price of Bitcoin has reached over 104 thousand dollarswhich means the greatest increase from the end of January. “The shot of the course was preceded by a few days of consolidation over $ 100,000 and was accompanied by a sharp increase in volumes on the largest Gie³dach” – assessed Business Insider. The level of capital influx to American ETFs (stock funds) was growing.” After yesterday's influx of capital, the spotted ETF funds on Bitcoin reached a new record level of cumulative influence. They currently amount to 40.33 billion dollars According to Bloomberg's data, “said the analyst James Seyffart.

The next ones decide on Bitcoin

The number of companies that adopt it as a tax act also has an impact on the increase in Bitcoin's force. Michael Saylor, one of the largest investors in Bitcoin, during the “Bitcoin for Corporations” conference in Orlando said that Companies that keep reserves in Bitcoin gain a lot. In turn, the president of Strategy Phong LE stated that during the year the number of entities that are based on Bitcoin is to increase from 70 to 700. According to the president of the Japanese conglomerate, Metaplanet, the demand for bitcoin is to increase due to its protection against weakening yen. Julien Bittel from Global Macro Investor published a chart that shows how bitcoin follows the annual dynamics of world supply foam M2. “We climb higher” – commented Bittel's growth.

Bitcoin and inflation

Many American investors treat Bitcoin as “Value magazine” similar to gold. “In connection with the fears of inflation and fears about the American dollar, some investors turn to Bitcoin as a way to protect their money,” Bitcoinmagazine.com pointed out. In turn, Chartsbtc announced on May 10 that the current Bitcoin price of 103,399 thousand. dollars reflects 11 percent Growth from the beginning of the yearcompared to 93,381 thousand dollars at the end of 2024.

More You can read about this in the article: “Trump announced an important move. He exchanged cryptocurrencies. Their course fired”.

Sources: Business InsiderJulien Bittel, CFA (X), James Seyffart (X), Chartsbtc (X), Bitcoin Magazine (X), bitcoinmagazine.com, bithub.plBitcoin for Corporations (x)

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