Bitcoin hit a record second day after Tesla, the Elon Musk car company, said it had bought about $ 1.5 billion (£ 1.1 billion) of the cryptocurrency.Bitcoin surged above $ 48,000 (£ 34,820) before falling. But still about 25% higher than last week.Some investors have used the Tesla movement as a sign that Bitcoin will become a major financial asset.However, there are criticisms of green car companies investing in such energy-intensive currencies.Bitcoin currently uses more energy than Argentina every year, according to the Cambridge University analysis.The production of digital currency, also known as "Bitcoin mining", requires a lot of computing hardware and processing power.Mike Butcher, editor of the news site Techcrunch, tweeted, “Tesla: Selling carbon credits to ***spam*** Bitcoin, which takes as much energy as a small country to mine.
What is Bitcoin and how does it work?
Bitcoin is a form of digital currency. This means that there is no physical form. Units of สล็อตออนไลน์ cryptocurrency are traded over a computer network instead.It operates through a global network of thousands on thousands of nodes - machines within the network, such as computers or other devices, which together process and store transactions.Tesla described the investment on Monday as wanting to increase the return on the dormant cash in its accounts.It also expects to accept payments for electric cars in Bitcoin in the future.The move sparked interest in the market, which lasted until Tuesday.
Stocks of companies that provide bitcoin trading platforms and cryptocurrency mining technology. (cryptocurrency) has been on the rise in China, South Korea and Australia, and big computer chip companies such as SK Hynix are on the rise.Cryptocurrencies have surged 62 percent this year from a 300 percent gain in 2020 as investors search for alternative assets at a time when interest rates in many countries were at record lows.Bitcoin has attracted the attention of large investment firms, including Blackrock, which recently changed a number of investment documents to allow some of the money to be invested in the currency.
However, the central bank remains skeptical about the cryptocurrency. In October, Bank of England Governor Andrew Bailey warned against the use of Bitcoin as a payment method, stating that there was no. "Real value" is different from cash or gold.Some institutional investors are wary of Bitcoin price volatility.The average institutional investor is shaking his head,” said Robert Pavlik, senior portfolio manager at Dakota Wealth.For these people who believe in cryptocurrencies [Tesla investment] gives them another layer of support that crypto is the future.But Bitcoin's skepticism doesn't mean central banks and regulators are against the cryptocurrency.In China, specialized regulators have begun accepting the issuance of their own cryptocurrencies for their daily use.
