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Bitcoin has seen a 70% rise in its price since January 1. The cryptocurrency hit a peak just over $50,000 Tuesday morning. This got CNBC's Andrew Ross Sorkin and Joe Kernen talking about escape velocity.
CNBC is literally talking about at what price Bitcoin replaces the dollar. https://t.co/icHttX7aiY
— Threshold (@BTCknow1) February 16, 2021
Large firms like Tesla, Mastercard and BNY Mellon have shown support for cryptocurrencies.
Many crypto investors believe the current bull run is different to a late 2017 bubble.
“I think bitcoin is a much more stable asset class today than it was three years ago,” Michael Saylor, CEO of enterprise software firm MicroStrategy, told CNBC’s “Street Signs Asia” program on Tuesday. “It used to be dominated by leveraged retail traders … on international markets with a lot of leverage.”
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