Bitcoin is nearing its all-time high

The cryptocurrency “Bitcoin” rose 7 percent above $ 40,000 in trading last Saturday, approaching its highest level ever recorded in January at $ 42,000.

The price of the cryptocurrency exceeded 40.85 thousand dollars. The latest jump comes after another volatile week in the cryptocurrency markets, marked by Elon Musk’s support for the “Bitcoin” currency, as well as a record increase in the “Atheer” currency, which is the second largest cryptocurrency.

This is not the first time that Musk has spoken openly of his interest in cryptocurrencies, as he mentioned earlier that Bitcoin and cryptocurrencies in general should be used in electronic payments.

Shares of companies linked to cryptocurrencies also rose after Musk’s tweet, with shares of “MarathonPatent” rising in pre-opening trading of the US market by about 20 percent.

The tweets of American business tycoon Elon Musk caused record highs for some companies’ shares over the past days, including Gamestop, which caused a lot of controversy over the past few days with a violent wave of speculation on the stock that caused record highs for the stock and sharp losses for hedge funds.

India intends to enact a law banning private cryptocurrencies such as Bitcoin in the country, and is working to provide a framework for creating an official digital currency during Parliament’s current budget session.

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