Bitcoin Hits $50,000 — and the Rally Just Started

Bitcoin has had an incredible run since it first started trading in 2010.

The cryptocurrency initially cost less than a penny. But earlier this week, it passed the $50,000 mark for the first time.

There are three big pieces of news behind its latest uptrend:

  • Tesla added $1.5 billion in bitcoin to its cash holdings.
  • Mastercard will allow some of its merchants to accept cryptocurrencies as payment.
  • A major New York bank announced it will begin holding cryptos for its clients.

In today’s Market Insights video, I explain what these developments mean for bitcoin, and where the crypto’s price could be headed next.

(If you’d prefer to read a transcript, click here.)

Regards,

Ian King

Ian King

Editor, Automatic Fortunes

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