Crypto-Tuesday April 11, 2023 – Bitcoin, the world’s largest cryptocurrency by market capitalization, has broken through the $30,000 threshold for the first time since May 2021, marking a significant milestone in its volatile price history.
The digital currency has been on a rollercoaster ride in recent years, experiencing extreme fluctuations in value, but this latest surge is a positive sign for investors who have held onto their bitcoin through the ups and downs.
The price surge can be attributed to several factors, including increased institutional adoption of bitcoin, growing interest from retail investors, and a renewed focus on the potential use cases of cryptocurrencies. Some experts also point to the current economic climate, which has seen governments around the world pumping trillions of dollars into their economies to counter the effects of the COVID-19 pandemic, as a key driver of the bitcoin price surge.
Speculation is rampent. Will Bitcoin continue the surge. Some speculate to $1 Million. Or, will it crash and burn to zero. Only time will tell.
Attorney Steven A. Leahy looks at the latest Bitcoin news on Today’s Tax Talk.