Series

Bitcoin Mania Is Back

Link in Bio with Jenny and Alejandro
What is causing this week’s surge in the value of Bitcoin, a popular cryptocurrency?
the details
The value of a Bitcoin rose to $64,000 on Wednesday, its highest since November 2021. The rally for Bitcoin led to an outage on crypto exchange platform Coinbase on Wednesday, with users reporting erroneous $0 balances. Yahoo! Finance reports that...
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Show transcript
00:00
Cryptocurrency is going crazy.
00:03
So this week, Bitcoin's price reached $63,000 on Wednesday afternoon,
00:07
the highest it's been since November 2021 and it actually went up
00:12
43% in February alone.
00:15
I didn't invest as you can tell.
00:16
Did you say you sold 10 of them?
00:18
Right? I forgot how much the amount was,
00:20
but I sold, I pulled out,
00:21
I got scared and so I didn't say I didn't hold,
00:25
I, I sorry guys,
00:26
you know, all the diamond hands out there,
00:28
stay, stay strong.
00:30
Like imagine if you are in this game right now and you
00:32
have money in there.
00:34
You're freaking rich. Are you keeping this low key like those
00:37
guys that win the lottery or what?
00:39
I'm keeping a low key brother.
00:40
You know how they say like,
00:42
you know, they don't know the way.
00:47
OK, cool. Well,
00:49
I mean, it's crazy cuz it's kind of like the GME
00:51
thing. Remember a few years ago with Game Stop.
00:54
So apparently like this Bitcoin craze is going so crazy that the
00:58
exchange Coinbase began glitching thing.
01:07
But it sounds like,
01:07
you know, they're like,
01:08
oh, it's kind of,
01:10
you know. But in fact,
01:12
Coinbase Ceo Brian Srong said they were prepared for a 10 time
01:15
surge in traffic. But because it's,
01:17
again, everyone wants to get in on this.
01:19
The platform is just flooded with traffic.
01:22
Well, it's just the peak.
01:23
I think it's the,
01:23
I don't know if maybe it's the wrong time to get into
01:26
it or what brother.
01:27
What do you think?
01:27
I mean, I was,
01:28
I was texting some people here at work and I'm like,
01:30
sure I just like throw in like 1000 and see what happens
01:32
Like do not know like we're going and I checked the
01:34
socks and it's going down a little bit.
01:38
Exactly. If they're going low,
01:40
you have to go low,
01:40
you have to take your chances.
01:42
So people are asking why is the price for Bitcoin so high
01:44
now? And apparently it might just be due to supply and
01:47
demand. Some reports say that the sec approved a few exchange
01:52
trader funds this year which were buying up thousands of coins a
01:55
day. So again,
01:56
it kind of drove up the price right.
01:58
And since Bitcoin only makes 900 coins a day,
02:00
they were selling not enough Bitcoin to accommodate all the new demand
02:04
Bitcoin is H half in,
02:07
what's the right half thing?
02:09
They're cutting it in half.
02:10
I don't know. On April 20th,
02:12
meaning Bitcoin block rewards will be cut in half.
02:15
It happens every four years and it reduces Bitcoin supply.
02:18
Meaning it could go up even higher every four years like leap
02:23
Oh, a good call back to us.
02:25
But yeah. Are you guys gonna buy into this whole
02:27
Bitcoin craze? Do you guys already have Bitcoin if you have
02:31
any suggestions for your boy?
02:32
Because I wanna get in on this.
02:33
Yeah. And let us know the best time.
02:35
Like I, I mean,
02:36
I'm clueless when it comes to Bitcoin and stocks and all
02:40
investing. So, add to the,
02:43
to the group chat I wanna learn.