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Bitcoin price rose above $ 50,000

On the night of Tuesday, March 2, the bitcoin rate again rose above the $ 50 thousand mark. As of 10:50 Moscow time, the first cryptocurrency is trading at $ 48.8 thousand, over the past day it has risen in price by 5%. Its quotes began to rise sharply after the local minimum was updated at $ 43 thousand on Sunday, writes RBC Crypto.

The value of the cryptocurrency is growing amid several positive developments that took place in early spring. For example, yesterday MicroStrategy CEO Michael Sailor announced that the company bought 328 bitcoins for $ 15 million. The number of coins under its management exceeded 90.8 thousand.

At the same time, clients of the Japanese corporation Rakuten, specializing in online retail, were able to spend bitcoins and other cryptocurrencies in thousands of outlets. The company has added the ability to exchange digital money for its own cryptocurrency, Rakuten Cash.

Earlier, JPMorgan strategists advised investors to invest about 1% of their investment portfolio in bitcoin. They believe that cryptocurrency is capable of hedging risks from fluctuations in traditional asset classes such as stocks, bonds and commodities.

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