Bitcoin crossed $53,000 as Elon Musk backs it over cash

By VARINDIA - 2021-02-21

Bitcoin price surged over $53,000 on February 19, as it has recorded it’s market value has reached US$1 trillion for the first time, a surge that’s helping cryptocurrency returns far outstrip the performance of more traditional assets like stocks and gold.

Bitcoin was up as much as 2.4% to $53,263 as of 9:55 a.m. Friday in New York. Just this week, prices have jumped about 10%.

Elon Musk, Tesla Chief Executive Officer said that Tesla's investment in Bitcoin is not directly reflective of his opinion. "When fiat currency has negative real interest, only a fool wouldn't look elsewhere," he said.

Musk has posted a somewhat cryptic tweet Friday that appeared in part to defend the company’s action, saying Bitcoin “is simply a less dumb form of liquidity than cash” while adding that the electric vehicle maker’s decision isn’t directly reflective of my opinion.

Name:
Email:
Comment:

INTERVIEWS

'One has to be alert as cyber scamsters are always a step ahead'

"To set up two-factor authentication is one of the best practices suggested to clients"

'Good governance is essential for managing cybersecurity issues'

"It is ensured a suitable endpoint security is installed and monitored for timely updates"

"Our endeavour is to safeguard IT systems from cyber-attack and take imperative steps"

"To have strong first line of defence, employees and associates needed to educate"

TOP VIDEOS

Data scientists and Data engineers witnessing demand and growth

Mr. Bharat B Anand,Group IT Head &Security- EC Council at Panel Discussion II, Cyber and Data Security Summit 2021

Mr. Chandra Mouli,CIO & CTO-Sankara Nethalaya at Panel Discussion II, Cyber and Data Security Summit 2021

Mr. Parna Ghosh, Vice President & Group CIO-UNO Minda Group at Panel Discussion II, Cyber and Data Security Summit 2021

Mr. Rishi Mehta, Technology Evangelist- Silicon Valley (USA) at Panel Discussion II, Cyber and Data Security Summit 2021

Mr. Subroto K Panda,CIO-ANAND & ANAND at Panel Discussion II, Cyber and Data Security Summit 2021

CIO - SPEAK

VPN and privileged access management : The key technologies

Sandeep Sengupta, MD, ISOAH Data Securities Educating customers &...

Strengthening remote protocols with multiple interfaces and set up of strong local security policies within laptops can mitigate risk

Dr. Harsha E Thennarasu Chief IT & Cyber Security Advisor, HKIT Securi...

“The 'deep fake' can be well countered with the 'deep trust'”

Jaideep Khanduja Chief Technology Officer, AccioMango Pvt Ltd Educati...

Start-Up and Unicorn Ecosystem

Volocopter raises $241Million, says operations to begin in 2...

NVIDIA univels Jarvis 1.0 Beta for building real-time conver...

Pandemic will force 1.8 cr Indians to switch occupation by 2...

WhatsApp to launch display banner to speak on the privacy po...

Netmagic Strengthens Partnership with Google Cloud India

Worldwide Smartphone Sales to Grow 11% in 2021 says Gartner

"Enterprises are adopting a Hybrid Multi cloud approach to o...

"More organisations will start seeking intelligent and inten...

Headcount downsizes attributed largely due to increased auto...

Enterprises to invest in artificial intelligence, cloud tech...

SECURITY

K7 Computing introduces K7 Ultimate Security Infiniti Edition Antivirus

K7 Computing has announced the launch of K7 Ultimate Security Infiniti Edition, a limited-...

Ryuk ransomware to cost Universal Health Services $67 million

A ransomware attack on Universal Health Services (UHS) on September 2020 had an estimated...

Bitcoin mining in China's Mongolia to end all mining by April 2021

Bitcoin mining requires huge amounts of computing power and uses large amounts of energy,...

SOFTWARE

EverestIMS Technologies inks distribution agreement AppDistri

EverestIMS Technologies has announced a partnership with Australia based AppDistri. Everes...

Cloudera Cloud-Native Operational Database Accelerates Application Development

Cloudera, (NYSE: CLDR), the enterprise data cloud company, today announced the availabilit...

TeamViewer launches Web-Based Remote Access

TeamViewer has announced the launch of the TeamViewer Web Client for all subscribers of a...

START - UP

Delivery startup Instacart valued at $39 bn

The California startup into grocery business Instacart has valued more than doubled its va...

Saurabh Jain to launch his edtech startup Fun2Do Labs

Saurabh Jain Former Paytm Executive will be launching his edtech startup Fun2Do Labs. It i...

Acer launches its flagship store in Bengaluru

Acer India unveiled India’s biggest swanky new Flagship Acer Mall experience store i...

UPI AutoPay goes live on Gaana

National Payments Corporation of India (NPCI) has announced that UPI AutoPay has now gone...

SOUTHERN INDIA INFORMATION TECHNOLOGY FAIR (SIITF) -2018
BANGALURU

STAR NITE AWARDS(SNA) - 2018
NEW DELHI

ODISHA INFORMATION TECHNOLOGY FAIR(OITF)-2019
BHUBANESWAR

WESTERN INDIA INFORMATION TECHNOLOGY FAIR(WIITF) - 2019
MUMBAI

PERIPHERALS

OPPO to unveil its Band Style

OPPO is all set to launch the OPPO Band Style, a premium product equipped with cutting-edg...

Ambrane announces two new TWS – Dots 11 and Dots 20

Ambrane has announced the launch of its TWS series – Dots 11 and Dots 20 with severa...

Streamlined fixed domes with brilliant image quality up to 4K

Axis Communications, the market leader in network video, launches new additions to the AXI...

Fujitsu Launches AI-powered Physical Rehabilitation Solution 'HOPE ROMREC'

Fujitsu today announced the launch of a new AI-powered physical rehabilitation solution in...

INDUSTRY EVENTS

Addverb Technologies opens "Bot-Valley", INR 75 Cr. Robots manufacturing facility

Addverb Technologies has inaugurated its world class manufacturing facility “Bot-Val...

Micro Focus charges up for Flagship Customer Event, Micro Focus Universe 2021

Micro Focus has reinforced its ongoing commitment to help customers win in the digital eco...

World Leadership Congress recognises Kamal Nath as 'CEO of the Year'

Sify Technologies Limited (NASDAQ: SIFY), India’s most comprehensive ICT solutions p...

NetApp hosts Xcelerate 2021

NetApp has recognized its top-performing channel partners at the ‘Xcelerate 2021 par...

E- COMMERCE

Paytm leads the mobile payments market in India with 1.2B monthly transactions

The sources from Paytm says, it has processed 1.2 billion transactions in the month of Feb...

Amazon to redesign it's app icon after it comparisons to Hitler's mustache

Amazon has changed its app icon after receiving criticism that its new logo resembles with...

Walmart launches new Vriddhi e-institute to help MSMEs

Global retailer Walmart expanded its MSME-focused Vriddhi e-institute to Uttar Pradesh, st...

Salesforce gains up 20% more from last year

Salesforce shares fell as much as 4% in extended trading after the enterprise-software com...

MOVERS & SHAKERS

Ex-CFO and COO of Tata Capital, Govind Sankaranarayanan joins Cashinvoice as Board of Director

CashInvoice has announced the appointment of Govind Sankaranarayanan, founding CFO and COO...

Manu Sharma joins as the Vice President and General Manager in Nothing India

Nothing, a new forward-thinking London based consumer technology company, announced today...

Jon Robertson appointed as the as President, Asia Pacific & Japan in Snowflake

Snowflake (NYSE: SNOW), the Data Cloud company, today announced Jon Robertson will jo...

Zenith India appoints Ramsai Panchapakesan to join Zenith India

Ramsai Panchapakesan has joined as the National buying head in Zenith India Panchapakesan...

CHANNEL - BUZZ

Ingram Micro India signs distribution agreement with Numeric

Ingram Micro India announced today that it has signed a distribution agreement with Numeri...

RAH Infotech Named Distributor of the Year by Skybox Security

RAH Infotech, the specialty technology distributor of cybersecurity, data management, disa...

Subex joins O-RAN Alliance to boost the adoption of open radio access networks

Subex has announced to become a member of the O-RAN Alliance to support the development an...

KIIT selects Lenovo as official IT Solutions Partner

Lenovo has been selected by the Kalinga Institute of Industrial Technology (KIIT) as...