Bitcoin is rallying with news such as Russia’s push for Bitcoin crude oil payments and the sale of Bitcoin by “Terra,” Korea’s largest cryptocurrency.
As of 9 a.m. on the 28th (GMT+8), Bitcoin is recording $47,261, up 5.87% from 24 hours ago on CoinMarketCap.
It is the first time since January 3 that Bitcoin has surpassed $47,000 again. In other words, Bitcoin has hit a three-month high.
Bitcoin has been rising for six consecutive days recently. This is attributed to the news that Russia, which has been blocked from paying dollars, is pushing for crude oil payments with Bitcoin and that Terra, the nation’s best cryptocurrency, is collecting Bitcoin.
Russia announced on the 25th that it is considering introducing Bitcoin to crude oil payments. Pavel Zabani, chairman of the Russian parliamentary energy committee, said the country could not make dollar payments due to sanctions imposed by the West on Russian companies, adding that Bitcoin could be considered an alternative in this case.
In addition, the news that Terra is collecting Bitcoin is also contributing to the rise of Bitcoin.
CoinDesk, a cryptocurrency media outlet, recently reported that the Luna Foundation, which issued the cryptocurrency Terra, purchased $125 million worth of bitcoin early last week. Earlier, the Luna Foundation announced last month that it would increase its Bitcoin holdings to $1 billion.
Bitcoin seems to be rising day after day due to these favorable factors.
