Bitcoin Magazine: $60k Milestone Reached
The cryptocurrency market has experienced a pivotal moment yet again, as Bitcoin has surpassed the $60,000 threshold. This so-called spike is said to be an expression of increasing faith in and interest towards Bitcoin which still proves its value and strength in the world economy according to the recent posts by Bitcoin Magazine on Twitter.
JUST IN: #Bitcoin is back above $60,000 🚀 pic.twitter.com/5Wcbxl4Zxs
— Bitcoin Magazine (@BitcoinMagazine) August 18, 2024
Scarcity Drives Bitcoin’s Value
The increase in Bitcoin’s price draws attention to its limited availability as an asset. Only 0.26% of the global population has ever been capable of owning one whole bitcoin; hence it is not surprising that this rarity is pushing its demand among investors.
Twitter post
Only 0.26% of the world population can own 1 #Bitcoin pic.twitter.com/1gTi8huVvb
— Bitcoin Magazine (@BitcoinMagazine) August 18, 2024
As there are only 21 million coins in existence, they are going to be very valuable in the future if one happens to hold even a small piece of a bitcoin.
Investors Rush Amid Supply Constraints
The increasing interest by both institutional and retail investors is driven by the rise in prices of Bitcoin despite limited availability. Social media platforms such as Twitter have depicted this increasing demand where real-time updates and analyses are offered by Bitcoin Magazine.
Bitcoin above 60k- While Bitcoin trades above $60k, individuals should be well informed via reliable sources such as Bitcoin Magazine on Twitter because there is an ongoing rush to acquire these digital gold coins.
Also Read: Bitcoin Price 2024 | Learnings From Bitcoin Pullback For Curious Investors
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