Market News

Bitcoin Eyes $50,000 for First Time Since El Salvador Rollout - BLOOMBERG

OCTOBER 04, 2021

(Bloomberg) -- Bitcoin is making a push back to $50,000 for the first time since El Salvador’s checked rollout of the largest cryptocurrency as legal tender at the start of September.

After dropping as low 3.2% to $46,933 in earlier trading, Bitcoin edged up 1.6% to $49,237 as of 2:32 p.m. in New York trading. The push higher toward the round number bolstered the spirits of Bitcoin enthusiasts across Twitter.   

Bitcoin tumbled as much as 17% on Sept. 7 after El Salvador’s experiment with Bitcoin -- the biggest test of the token’s real-world usefulness -- had a rocky start because of technical glitches to the official digital wallet.  

Not everyone was high on the digital asset Monday, with Citadel Securities founder Ken Griffin saying that Bitcoin is a “Jihadist” call during a talk at the Economic Club of Chicago. To be sure, Griffin said Citadel would trade the asset if it was closely regulated.  


This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services
Real Time Analytics