For the first time, this month Bitcoin's price surpassed $40.000. The raise happened on June 14. Currently, the coin trades at over $40.200 with a market cap of around $834.7 Billion.
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Several factors had an impact on the price growth. Tesla CEO Elon Musk announced the company will start accepting Bitcoin when the mining will use 50% green energy.Later, American billionaire hedge fund manager Paul Tudor Jones said in an interview that he finds BTC is reliable and secure. Also, he said he intends to have 5% of his overall portfolio kept in BTC.
After COVID-19 started, Paul Tudor Jones has praised the coin several times. He said acquiring BTC would protect him from inflation in the US as the Fed's policy to solve financial issues was to print more dollars.During the interview with CNBC, Tudor said he likes BTC as it is math and math has been working for centuries. He said he likes investing in smth that is reliable, consistent, honest, and 100% certain.” The billionaire already has holdings in BTC and he said presently he wants to have 5% of his holdings in gold, 5% in Bitcoin, 5% in cash, and 5% in commodities.