Recently, the digital currency was worth less than $34,000. But according to CoinMarketCap, it is now about $ 40,500. That website monitors various platforms on which cryptocurrencies are traded. Other cryptos, for example ethereum and dogecoin, are clearly gaining in value again.
Bitcoin has recently come under pressure due to the expectation that the US central bank will raise interest rates faster than expected to curb high inflation. When interest rates rise, investors usually move out of riskier investments such as cryptocurrencies.
But large companies on Wall Street have shown such strong price swings in recent days that investing in stocks at the moment is clearly not without risk. For example, Meta, the parent company of Facebook, lost more than a quarter of its stock market value after a disappointing quarterly report on Thursday. As a result of the price fall, no less than 250 billion dollars in market value went up in smoke.
On Friday, online store group Amazon, in turn, won almost 170 billion dollars in value at the opening of the stock market, after the company had just released strong results.