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How to invest in Bitcoin

Bitcoin has rebounded once again above $ 50,000, Bitcoin remains the world's largest cryptocurrency by market value and the latest jump comes because Jack Dorsey, a company called Square, recently bought an additional $ 170 million coin. Digital encryption.

Bitcoin and the new Square purchase
Square announced during a earnings call earlier this week that the company had bought 3318 Bitcoins at a total purchase price of $ 170 million, and Bitcoin is now responsible for 5% of the company's total cash flow, negotiable securities, and cash equivalents.


 



"The investment is part of Square's ongoing commitment to Bitcoin, and the company plans to continuously evaluate its total investment in Bitcoin compared to its other investments," the company said.

Is investing in Bitcoin risky?
Bitcoin suffered huge losses earlier this week which also caused Elon Musk to lose $ 15 billion per day due to the devaluation of the cryptocurrency.

Musk was no longer the richest man in the world due to the recession, but after the sudden rise in value, musk may have taken its first place again.

Bitcoin's volatility has not been a major cause of concern for investors who remain unperturbed as Bitcoin tends to bounce back.

"We might see some fluctuations in prices that can be expected in an emerging location," Paolo Arduino, chief technology officer at Pete Phoenix, told Business Insider.

"This criticism misses the goal and the profound effect that it is beginning to have," added Arduino. For many battle-tested exchanges that have escaped market volatility, volatility is not new and to be expected in such a young market. "

Bitcoin has seen massive gains over the past few months. Just last month in January 2021, Bitcoin reached $ 30,000 in value for the first time.

In roughly a month, the cryptocurrency is now trading in excess of $ 50,000 at the time of writing this story.

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