- Bitcoin price is back to $50K.
- Bitcoin’s $50K achievement results from Joe Biden’s emergency relief package of about $1,9 trillion.
Currently, Bitcoin price has climbed back to $50,000. The current BTC price pump is due to an emergency relief package of about $1.9 trillion issued by US President Joe Biden.
However, Biden’s $1,9 trillion relief package came at the time when Bitcoin was reportedly changing hands near $47,500.
At the time of writing, Bitcoin price is now at $50,753 with a 24-hour trading volume of $45.2 billion based on Coingecko data. Surprisingly, many popular figures continue to show a lot more interest in Bitcoin even amid its price correction nowadays.
Prior to Biden’s relief fund confirmation, business intelligence company MicroStrategy bought a whopping amount of 19,452 bitcoins. Moreover, the firm’s recent BTC purchase cost them $1,026 billion in cash.
In addition, early this year, Tesla (NASDAQ:TSLA) CEO Elon Musk also made the same move toward Bitcoin as MicroStrategy did. Tesla also revealed that they had bought $1.5 billion worth of Bitcoin at that time. Tesla also said it would start accepting payments in bitcoin in trade for its products.
This article first published on coinquora.com
