Bitcoin’s price touched a new all-time high today. According to CoinMarketCap, BTC today reached $48,003, while CoinGecko reports it reached $48,025.
Yesterday, following the publication of the news that Tesla had invested $1.5 billion in bitcoin, the price of BTC literally soared, going from $39,000 to $43,000 in a matter of minutes, but the rise didn’t end there.
In fact, the news came while it was still morning in the US, and over the course of the day managed to convince many more people to buy bitcoin. So after the closure of their traditional financial markets, the price of BTC had already risen to $47,000.
In other words, it was an increase of 20% in twelve hours.
Overnight it was the Asian markets that continued the rise, so that this morning there was a new increase that took the price of bitcoin to $48,000.
Bitcoin’s all-time high due to Apple
The fact is that yesterday, after the news of Tesla’s investment, rumours of a possible investment by Apple also began to circulate.
According to Reuters, a report by RBC Capital Markets suggests that the company would have the opportunity to increase its market value by announcing its entry into the crypto sector.
Two hypotheses are therefore circulating: the first is that Apple could launch its own cryptocurrency buying and selling service, or even its own exchange, while the second is that it could follow Tesla’s example and invest directly in BTC.
Yesterday, Tesla’s share price rose 3% during pre-market trading after the investment news was published, although it then settled at a lower level.
However, Tesla is unlikely to be an isolated case. There are already other companies that have converted part of their cash reserves into bitcoin, and it cannot be ruled out that others will follow suit. The more widespread the fear of a significant rise in dollar inflation, the more attention these companies will turn to bitcoin.