In light of the continued strong support from individual investors and giant companies; Cryptocurrencies continue to rise, as Bitcoin stabilizes near its historic highs, as well as ETH, followed by XRP, which continues to rise for the fourth consecutive day despite the pressures it received from the US Securities and Exchange Commission.
Bitcoin rose today to settle at levels of $ 46,355.92, equivalent to a daily increase of 3.41%, and the ETH currency rose 2.45% to settle at $ 1,785.91, while XRP rose by 2% to settle at levels of $ 0.51616.
In the context of the financial services companies’ race to include digital currencies in the payment systems they make available to their customers; Mastercard has announced its new plans to give its customers the option to receive payments using digital currencies at a later time, and these steps by financial services companies such as MasterCard, Visa and PayPal are considered steps that support the presence of digital currencies significantly, as this expands the scope of their trading and use. It also makes it important to formulate regulatory frameworks for their circulation by central banks and governments.
Tesla had announced earlier that it had invested $ 1.5 million in bitcoin, which supported its price strongly, but in return experts from the investment bank JPMorgan expected otherwise, as strategists at JPMorgan wrote in a note published by Bloomberg on Wednesday: The main problem with the idea that corporate treasurers will follow Tesla’s lead is bitcoin’s volatility.
Corporate treasury portfolios are usually full of bank deposits, money market funds, and short-term bonds, which means that annual volatility – or the range of fluctuations during the year – hovers around 1%, adding that 1% exposure to bitcoin could lead to a significant increase in volatility. Wallet up to 8%.
The American businessman and President of Tesla, Elon Musk, is one of the most prominent names that support and direct the movement of digital currencies, especially after he supported both Bitcoin and Dogecoin with resonant statements that pushed each of them to launch to the current levels.