JAKARTA - The exchange rate of digital money, Bitcoin jumped to its highest level today. In fact, the price has now reached 18,000 US dollars per coin, or the equivalent of IDR 254 million (assuming IDR 14,000 per dollar).
This price is the highest record in the last three years, since reaching December 20, 2017. At that time, the Bitcoin exchange rate reached 20 thousand US dollars per coin.
Quoting Coindesk, Wednesday, November 19, until 15:34 WIB, Bitcoin was traded in the range of US $ 17,515 per coin, or the equivalent of IDR 251.51 million. Prices traded around 8.6 percent, up 18,172 dollars from yesterday.
According to market analysts, the increase in bitcoin price was due to several factors. First, the weakening of the US dollar from other countries' currencies in recent times.
The weakening of the US dollar cannot be separated from the poor economic prospects after being pressured by the corona virus pandemic or covid-19. Second, investors see bitcoin as a viable alternative investment instrument in the midst of uncertainty.
"They (investors) are all betting big on bitcoin as a protection against inflation, uncertainty and turmoil in 2020," said Lolli CEO Alex Adelman.
In addition, interest in Bitcoin is also getting higher, with many investors starting to use the digital coin. Including a number of companies that started trying bitcoin transactions such as Fidelity Investments, Square, and PayPal.
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