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  • MyData Communications

Bitcoin on the rise

Cryptocurrency is a subject with a lot of attention. Tesla recently bought $1.5B in Bitcoin, giving it a record high of more than $48.000, and even stated that the currency could be a potential payment option in the future.

Elon Musk has the ability to manipulate the cryptocurrency market with both appearance and billions of dollars invested, and the latest purchase is no exception. The CEO of Tesla is naturally aware of the risk of such an investment, but it seems Musk has a nose for making money, so the huge investment in Bitcoin is most likely a calculated risk.

CNBC´s Jim Crainer is another front figure digging into Bitcoin. According to Jim, Bitcoin is a great alternative to cash positions, where you make close to nothing.

The global low interest rate have had many people looking for alternative investments. Gone are the golden days where interest rates actually meant you earned something by saving money in the bank. These days the interest is zero or close to zero, and in some countries you even have to pay a negative interest if you chose to keep money in the bank.

Speculations has it, that Bitcoin will reach $100,000 mark in the near future, and Crainer is on board. “I find Bitcoin exciting, and have a few saved up” Crainer admitted in an interview, stating further that “It´s a little inflated, but plenty of people believe it will rise further”.

You do not need to be a billionaire to invest in Bitcoin or any other cryptocurrency, but understanding the risks is a good way to get started. Cryptocurrencies are still new and it´s hard to predict the future, but the world is going towards a future where hard cash will become less of a normal, and cryptocurrencies could become an alternative in financial transactions.

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