Last updated on December 8th, 2022 at 02:51 pm
Bitcoin has risen again, and large investors will continue to invest in it
Bitcoin is recovering from a previous drop amid a broader recovery in risky assets following a US Labor Department report that the country added more than expected jobs last month. To a large extent, the recovery of the main cryptocurrency was facilitated by large investors’ support.
Last Friday, bitcoin fell in price by 3.4% and as of 9:02 am in New York (17:02 Moscow time), its value was about $ 48,150. The Bloomberg Galaxy Crypto Index, including bitcoin and four other tokens, fell more than 4.7%.
As for supporting large investors, MicroStrategy announced the purchase of another 205 bitcoins at an average price of $ 48,888.Considering this acquisition, the company now owns about 91,064 tokens worth more than $ 4 billion.
Bitcoin is currently around $ 10,000 below its February record of over $ 58,000.
According to a US Department of Labor report released on Friday, the number of jobs increased by 379,000 compared to the revised forecast for growth of 166,000 workers in January. Economists surveyed by Bloomberg had forecast job growth in February in the range of 200,000. The unemployment rate fell to 6.2%.
Longtime cryptocurrency supporter Michael Novogratz of Galaxy Digital Holdings Ltd. remains optimistic about bitcoin, repeating on Thursday that it will reach $ 100,000 by the end of the year. …
Experts are divided. Some believe that the token can hedge the risk of inflation, depreciation of fiat currencies, and even gold – in their opinion, it should take a noticeable share in institutional portfolios. Other experts regard it as a stimulus-fueled bubble that is about to burst.
