Budget 2018-19

  Bitcoin traded at around $51,300 as of 1:30 pm on Friday in Hong Kong after quintupling in the past year Bitcoin is closing in on a market value of $1 trillion, a surge that’s helping cryptocurrency returns far outstrip the performance of more traditional assets like stocks and gold. The largest token has added more than $415 billion of value in 2021 to about $956 billion, data compiled by Bloomberg show. The Bloomberg Galaxy Crypto Index, which includes Bitcoin and four other coins, has more than doubled. Speculators, corporate treasurers and institutional investors are thought to have stoked Bitcoin’s volatile ascent. Crypto believers are dueling with skeptics for the dominant narrative around the climb: the former see an asset being embraced for its ability to hedge risks such as inflation, while the latter sense a precarious mania riding atop waves of monetary and fiscal stimulus. FOMO — fear of missing out — may be at play, said Shane Oliver, head of investment strategy with...

  The price of Bitcoin soared 15.4 per cent to around $44,500 Monday in reaction to Tesla”s announcement, according to CoinBase Holders of Bitcoin may be able to cash in some of their investment in the digital currency for a brand new electric car. Electric automaker Tesla said Monday that it has invested around USD 1.5 billion in Bitcoin and it plans to begin accepting the digital currency as payment for its high-end vehicles soon. The price of Bitcoin soared 15.4 per cent to around USD 44,500 Monday in reaction to Tesla’s announcement, according to CoinBase. The California-based electric car maker headed by  Elon Musk  revealed the new strategy in a filing with the US Securities and Exchange Commission, saying its investment in digital currency and other alternative reserve assets may grow. Bitcoin has drawn enthusiasts for its scarcity and security, but the volatile digital currency still is not widely used to pay for goods and services. It’s mostly been a store of val...

  If Tesla were to accept bitcoin payments the way some other major companies have, customers would transfer bitcoins from their “digital wallets” to another entity that converts them into, say, dollars Tesla Inc expects to allow customers to pay for its electric vehicles with bitcoin soon, the automaker said on Monday, a move that could expand how the most popular cryptocurrency is used for real-world transactions. Although bitcoin has become more of a household name in recent years, it is still mostly used as an investment product rather than a form of payment. A handful of mainstream brands have allowed customers to make purchases with bitcoin through third-party processors, but  Tesla  suggested it might accept bitcoin directly as part of a broader plan to incorporate the cryptocurrency into its investment portfolio. The company made the disclosures in a section of its quarterly securities filing that also detailed its purchase of $1.5 billion worth of bitcoin. If cus...