Bitcoin Just Surpassed $51,000 Level: Possible Reasons

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Wed, 03/03/2021 - 09:33
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Yuri Molchan
The world’s flagship cryptocurrency has just surged above $51,000 as BTC recovery continues
Bitcoin Just Surpassed $51,000 Level: Possible Reasons
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Bitcoin continues reclaiming its recent losses. It has just exceeded the $51,000 price level.

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Bitcoin goes above $51,000, here's what may have driven it up

It has happened after several major figures from the financial world have changed their Bitcoin stance and made bullish statements on the world's biggest cryptocurrency.

Shark Tank's Kevin O’Leary (also known as "Mr. Wonderful") has become a Bitcoin supporter and announced that he intends to spread three percent of his portfolio between Bitcoin and Ethereum.

Later on, he stated that he wants to invest in eco-friendly Bitcoin miningbut not in China.

The other influential figure who has issued a positive statement on Bitcoin is the SEC chair nominee (picked by U.S. President Joe Biden), Gary Gensler, who has called cryptocurrencies a "catalyst for change."

Related
Bitcoin May Hit $100,000 or $1 Million But It Does Not Owe Anything to Cryptomaniacs: Peter Brandt

Twitter is raising $1.25 billionto buy Bitcoin?

Besides, the recent announcement that Twitter is raising $1.25 billion in convertible notes has led the community to believe that Jack Dorsey wants to put Bitcoin onto Twitter's balance sheet.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

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