You are here: Home - Investing - Experienced Investor - News -

Bitcoin surges to new record high

0
Written by:
14/04/2021
The price of the cryptocurrency Bitcoin has jumped to yet another record high.

On Wednesday morning it rose past the $64,000 mark ‒ the equivalent of around £34,400 ‒ per Bitcoin.

It’s a sharp increase over just a couple of weeks. Back on 24 March Bitcoin was valued at $51,315 (£37,331), having only recently passed the $50,000 mark. Over a year the rise is even more extraordinary. In April last year a single Bitcoin was valued at just $6,877 (£5,447).

The increase comes off the back of Coinbase, a cryptocurrency exchange, listing on the Nasdaq today. The firm will be offering its shares through a direct listing rather than an IPO, with an initial price of $250 (£181) per share.

Expect more regulation

Nigel Green, CEO and founder of advisory firm deVere Group, said the Coinbase’s listing was a “truly momentous day for the cryptoverse”, but warned that investors should expect much greater government scrutiny of the industry as a result.

He continued: “Governments, central banks and regulators will be keen to protect the currency status quo. We should expect considerably higher levels of regulation in the crypto market.  Indeed, I believe it is inevitable.”

However, Green argued that “proportionate” regulation should be embraced, as it will help protect investors and tackle criminality.

Is Bitcoin a bubble?

There have been plenty of warnings that the Bitcoin price rises are a bubble, which investors should avoid getting caught up in.

These warnings are reinforced by the fact that significant numbers of Bitcoin investors apparently have little in the way of savings, potentially exposing them to hardship should the value of Bitcoin crash. 

However, the lack of regulation and inherent risks are unlikely to bother some investors for long if the price continues to rise at this rate.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week