Bitcoin trading reached at highest volume

bitcoin-asian-market

Bitcoin traded at $ 33,365 in Asia on Monday, hitting a record high of 34,800 on Sunday as investors bet on digital currency to become a mainstream asset.

The latest milestone in the world’s most popular cryptocurrency came on December 16, less than three weeks after it first crossed 20,000, and the bitcoin has risen 800 percent since mid-March. With the supply of bitcoin limited to 21 million, some see it as a hedge to avoid the risk of inflation as governments and the central bank activate stimulus taps in response to COVID-19 epidemics. Some even see it as a safe haven during the CoVID-19 epidemic.

“Some of this reflects fears of a weaker dollar,”

Mohd Seven Sim | Aanalyst at the Bank of Singapore

READ ALSO: State bank never declared cryptocurrency illegal: SHC

“People seem to be preferring the bitcoin over gold, as an expression of concern over the depreciation of the currency.” Bitcoin’s advance also reflects growing expectations that it will become a mainstream payment method. With PayPal opening its network to cryptocurrencies. The prospect of immediate gains has attracted large US investors as well as traders who generally hold on to equities.

tax-accounting-services-top-tax-consultants-lahore-pakistan
Ads:

“The rally gained even more momentum as insatiable investors continued trading from home”

Executive Director | Hong Kong | BC Group

Institutional investors see the potential for greater risk-adjusted returns than traditional investments, he said.

Bitcoin trades on a number of exchanges, one of which is the largest coin base. It is preparing to become the first major US cryptocurrency exchange to be listed on Wall Street. Multiple competing cryptocurrencies use similar blockchain, or electronic ledger, technology. On Tuesday, Ethereum shot to a record $1,014 on Sunday.

Source

BITCOIN COINBASE BITCOIN TO PKR BITCOIN TO DOLLAR TODAY BITCOIN NEWS

LATEST POSTS

  • Latest FBR Lucky Draw 15 August 2022
    Latest FBR Lucky Draw 15 August 2022 Federal Board of Revenue (FBR) draws it’s lucky draw of Point of Sales (POS) Prize Scheme on 15th of every month for the previous month’s Sales Tax Invoices verified by the buyers of goods. Last month, 7th…
  • Latest Mobile Price in Pakistan and PTA Tax Calculator
    Latest Mobile Price in Pakistan and PTA Tax Calculator What a Mobile Price in Pakistan is a very common question which everyone often search on google, yahoo, and Bing. Taxes on Mobiles are also linked to their latest Prices. After…
  • What are Latest Tax Accountant Job Description in 2022
    What are Latest Tax Accountant Job Description in 2022 Tax Accountant is very responsible job. He should be well equipped with tax laws of their country as well as accounting concepts. Tax Accountant is normally considered to be knowledgeable in…
  • How to Check LESCO Bill Duplicate Online
    How to Check LESCO Bill Duplicate Online LESCO Bill is issued by Lahore Electricity Supply Company against electricity consumed by LESCO connection holders on the monthly basis. LESCO is electricity supplier in Lahore region. LESCO provides facility to check online…
  • How Can I Download my PTCL Tax Certificate?
    How Can I Download my PTCL Tax Certificate? Every year Taxpayer needs his tax deduction certificate when he files his annual income tax return. Tax is deducted by telecommunication companies on provision of services. Tax is included in the amount…
  • Today Iris FBR is going to update it’s System
    Today Iris FBR is going to update it’s System Federal Board of Revenue is a premier organization for management of tax system in Pakistan. FBR has some portals for this purpose like, www.e.fbr.gov.pk , FBR Maloomat and Iris FBR portal….

Vinkmag ad

Admin

Read Previous

FBR directed to issue income tax exemption certificates against gratuity and provident funds

Read Next

FBR allowed to taxpayers to file settlement application for agreed assessment

Leave a Reply

Your email address will not be published.