Bitcoin (BTC) has surpassed the 50K mark with a strong rally that looks ready to continue with more news and rumors about the cryptocurrency heating up.
Let’s start off with the hard news first, which includes KIKKLAB accepting bitcoin and other digital currencies. KIKKLAB is a Dubai-based government business. It will accept virtual currency for trade licenses and visa fees.
Next up we have MicroStrategy (NASDAQ:MSTR) announcing plans to raise $1 billion so it can spend it on bitcoin. The company already owns roughly $3.5 billion worth of bitcoin but is showing interest in picking up even more now that it’s crossed that 50K mark.
The final bit of hard news today includes New York Digital Investment Group revealing plans to launch a bitcoin exchange-traded fund (ETF). Adding to that is the firm naming Morgan Stanley (NYSE:MS) as one of its authorized participants in the ETF.
Now let’s get on to the juicy rumors surrounding bitcoin as it passed 50K today. The one really worth noting is that Tesla (NASDAQ:TSLA) CE Elon Musk may be looking to buy more of the virtual currency. This stems from SpaceX recently raising $850 million.
SpaceX just raised $850m.
Is Elon Musk buying more #Bitcoin?
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) February 17, 2021
— Satoshi Babe (@satoshi_babe) February 17, 2021
Of course, these aren’t the only companies and organizations that are interested in bitcoin now that it’s above 50K. Several others have recently expressed interest in the digital currency. You can check out this link to learn more.
BTC was up 4.2% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.