RATE Group | Bitcoin price tops $10,000 for first time since February ahead of ‘halving’
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Bitcoin price tops $10,000 for first time since February ahead of ‘halving’

08 May Bitcoin price tops $10,000 for first time since February ahead of ‘halving’

Posted at 03:58h in Bitcoin News by

The price of bitcoin
BTCUSD,
+1.71%
topped $10,000 late Thursday for the first time since February, ahead of the cryptocurrency’s so-called “halving” next week. Bitcoin was up about 2% Thursday night, but had receded to around $9,955 according to Coindesk data, after rallying more than 36% over the past month. The digital currency was last above $10,000 on Feb. 24, before plunging in March below the $4,000 level. The price of bitcoin is expected to continue to rally in the run-up to the “halving” on May 12, when the reward for mining bitcoin transactions is cut in half. The halving happens every four years. Earlier Thursday, billionaire hedge-fund investor Paul Tudor Jones said he was betting on bitcoin as the best hedge against inflation amid the coronavirus pandemic, comparing it to gold in the 1970s.

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