Bitcoin Surpasses $100,000… Chairman Powell Evaluates “Gold’s Competitive Asset”

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At 11:40 am on the 5th, BTC recorded $100,171.73, up 4.58% from the previous day./Source=CoinMarketCap


BTC has set a new all-time high by breaking through $100,000.

At 11:40 am on the 5th, based on CoinMarketCap, BTC recorded $100,171.73, up 4.58% from the previous day. At the same time, based on Bithumb, BTC was traded at 141,987,000 won, up 5.32% from the previous day.



BTC's market capitalization increased by 5.40% from the previous day to about $2 trillion (2,827.8 trillion won). It surpassed Saudi Aramco's market capitalization and ranked 7th in the global asset market capitalization.

On the 4th (local time), Federal Reserve (Fed) Chairman Jerome Powell's statement that "BTC is a competitor to gold" boosted the upward trend. Powell explained that BTC is similar to gold but has a virtual and digital nature. He further evaluated that BTC competes with gold rather than the US dollar due to its high volatility.
Reporter Yeri Do
yeri.do@decenter.kr
< Copyright holder ⓒ Decenter, Unauthorized reproduction and redistribution prohibited >

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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