Thursday, February 1, 2024

Tesla's Elon Musk buys $5 billion worth of Bitcoin

 Bitcoin has been doing well lately. It's going up for the fifth month in a row. This is because of the pandemic and how people feel about money. In January, it went up by 2%. This happened because of a new type of Bitcoin investment in the US. Big companies like BlackRock Inc. and Fidelity Investments started offering Bitcoin investments. This made more people want to invest in Bitcoin. Last year, Bitcoin went up a lot, around 160%. Also, another thing making people happy about Bitcoin is that a big investment fund, Grayscale Bitcoin Trust, is turning into this new type of investment. And, not as many people are taking their money out of the fund, which makes people feel good about Bitcoin.


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