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Elon Musk Just Bought 22 Billion Dollars Worth of Bitcoin as The Cryptocurrency Prices Surge

Elon Musk recently announced that he has bought roughly $22 billion worth of the cryptocurrency Bitcoin. This became possible because his company SpaceX won a contract to launch two dozen satellites into space, which would come at a much lower cost than launching them on other rockets.

Elon Musk just bought 22 billion dollars worth of Bitcoin

Elon Musk just bought 22 billion dollars worth of Bitcoin. This is the latest in a string of purchases made by him and his company, Tesla, in recent months. He just did this to keep up with the increased value of the cryptocurrency.

Bitcoin price jumped sharply to an all-time high after Elon Musk bought R22 Billion worth of Bitcoin

Elon Musk has invested in Bitcoin after the cryptocurrency’s price surged to an all-time high. The Tesla and SpaceX CEO recently bought 22 billion USD worth of Bitcoin on the open market, which would make him one of the top 50 richest people in the world.

Bitcoin price jumped sharply to an all-time high after Elon Musk bought R22 Billion worth of Bitcoin

Elon Musk just made a huge purchase of Bitcoin. The cryptocurrency surged significantly after the Tesla CEO announced that he bought 22 billion dollars worth of Bitcoin. This is the single biggest transaction ever made with bitcoin.

What is Bitcoin?

Bitcoin is a type of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros—they’re produced by people, and increasingly businesses, running computers all around the world. There are currently about 17 million bitcoins in circulation with a total market value of $181 billion US dollars as of April 26th, 2018.

Bitcoin Shares as of Tuesday:

How does Bitcoin work?

Bitcoin is a piece of software that has created cryptocurrency. Bitcoins are not tangible like money you carry in your pocket, but rather they exist digitally on the internet. Bitcoins can be exchanged with other people and businesses around the world for goods and services.

Pros and Cons of the Bitcoin boom

The price of Bitcoin has been spiking as the cryptocurrency boom continues to sweep the world. The price of Bitcoin has risen drastically in recent months, and experts predict that this trend will continue for some time. However, there are several ways in which experts believe that this could be a short-term and long-term investment trap.

Elon Musk just made a $22 billion bitcoin bet. The cryptocurrency market started the year 2018 at $827 billion and is now $125 trillion. The head of Tesla and SpaceX has been an outspoken bitcoin critic in the past, but now he has decided to invest heavily in digital currency. Experts predict that the price of one bitcoin will hit $250,000 by 2030, and Musk says it’s worth taking a chance on investing now.

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