Bitcoin broke a new record by hitting $ 50,000.

Cryptocurrency is experiencing an unprecedented rise, particularly due to the pandemic and the need for institutional investors to diversify their purchases.

But uncertainty remains on the reliability of this value.  

How far will bitcoin go?

The most famous cryptocurrency continues to climb and just hit $ 50,000.

A figure all the more colossal since it was estimated at $ 20,000 last December.

The explanation is to be sought from investors and in particular those called "institutional" who see this currency as a way of diversifying their portfolio in the context of the crisis caused by the coronavirus.

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The arrival of "institutional" investors ...

Because because of the pandemic, professionals are looking for different investments from traditional stocks.

And bitcoin was seen as a good opportunity.

This resulted in the arrival on this market of renowned investors, which gave credibility to this virtual currency.

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As Christopher Dembik, chief economist at Saxo Bank, explains, "institutional investors - in fact, very large companies or pension funds - decided to invest in cryptocurrencies, thinking that it could be an interesting investment" due to an increase in its value, "phenomenal over the last few months".

... despite strong uncertainties

Among these big names are banks or companies like Tesla, specializing in electric cars.

Its leader, Elon Musk, announced that he had invested a billion and a half dollars of his treasury in bitcoins.

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Bitcoin, the origin of which no one knows, remains a dangerous investment.

Particularly because it is very volatile.

The craze is however there.

Many, seeing the current rise, are afraid of missing the train.

They prefer to get on it, even if it is at an exorbitant price and without knowing the destination.

As the saying goes in economics, "Trees do not reach the sky."

It remains to be seen whether bitcoin will make it lie.