why bitcoin is going up

Bitcoin All-Time High is here! 4.5% jump to over $20,000

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Business is doing well at Bitcoin this round! Do you know why bitcoin is going up. For the past period of one year, this volatile virtual currency has added more than 170% amid the stock market turmoil. Bitcoins all-time high shows a promising future for the new investors who want to follow the suits of mass mutual bitcoin investments. Through the various sites such as Folgory bitcoin, the doors to better improvements are at investors’ disposal. On the other hand, there is the sinking side. Today, Wish stock counts a 16% stock plunge Wiping the market’s $3.5 Billion on their first-day trading.

2020 is the hit year! Bitcoin all-time high

From a reliable data source of Coin Gecko, Bitcoin’s highest ever recorded price before recently was in December 2017. At this time, it hit $19,783, setting its market capitalization record at $328 billion.  On Wednesday this week, the digital asset record was $336 billion showing a clean 4.5% increase equivalent to $20,440.  The sudden increase pin on the recent rise of investors.

mass mutual bitcoin

All along, the big investors have been the following;

  • Barry Silbert
  • Michael Novogratz
  • Dan Morehead
  • Blythe Masters
  • Tyler and Cameron Winklevoss

Today, however, the number has increased. More new ‘big’ investors such as MassMutual bitcoin are now showing more interest attracted by this market surge.

Mass Mutual Bitcoin – the big investment

Massachusetts Mutual, also known as Mass Mutual, is one of the giant insurance companies in New York. Recently, and for its investment account, the company unveiled $100 million in Bitcoin (BTCUSD). The purchase was via the New York Digital Investment Group (NYDIG), an institutional Bitcoin Shop. They took a $5 million minority equity stake, which they considered within the fund’s management outfit.

In a press release statement, MassMutual said that MassMutual bitcoin investment will give a “measured yet meaningful exposure to a growing economic aspect of our increasingly digital world.”

The key reasons, therefore, for mass mutual bitcoin investment are the following in simplest terms;

  • Conservative investors: This means that they only invest in investment-grade products or those tried and tested.
  • Need to set examples for the rest of companies from other sectors

Wish stock Plunges 16% amid Bitcoin all-time high

Wish Stock plunge; Here is what the customer data analysts at Cardiff had to say. Wish stock showed a drastic decrease through the 2019 summer, lasting up to now.

However, it was evident that the US had been a significant contributor to the Wish’s revenue. During this, there was a substantial reduction in their transaction; however, this was all because of the coronavirus pandemic.

Nonetheless, not all waters have passed the drain. The few who are transacting have increased their basket sizes, which, therefore, somehow still holds the numbers.

Better expectations from Bitcoin

Bitcoin will be more widespread than it is now because of the newly launched payment methods it has. Microsoft and Starbucks are among the latest of these methods offering greater convenience to the users. Otherwise, conventional methods such as PayPal used by folgory bitcoin and others remain available for convenience.