The price of the world’s most popular crypto Bitcoin continued to surge over the weekend to hit past the $41,000 mark seen in early January. With the latest rally, the digital currency has recovered most of the losses witnessed over the last few weeks.
Over the last one year, Bitcoin is up by almost 320%.
What is Driving Bitcoin’s latest Rally
Bitcoin is up by more than 19% over the past 7 days after getting a boost from Twitter CEO Jack Dorsey and Tesla CEO Elon Musk.
Earlier last week, Tesla CEO Elon Musk during a Clubhouse chat session said Bitcoin is a “good thing” adding that he believes the biggest cryptocurrency is set to get mainstream attention.
“I think Bitcoin is really on the verge of getting broad acceptance by sort of the conventional finance people. I don’t have a strong opinion on other cryptocurrencies.”
Twitter CEO Jack Dorsey shared a post showing that he was creating his own Bitcoin “node” – software that helps validate transactions and blocks on the network. Webpage Black Bitcoin Billionaire also confirmed it was partnering with Cash App, Square Inc.’s mobile payment service.
READ; ECB President Christine Lagarde Calls For Bitcoin Regulation
