A new study finds the price of a kilo of btc has recovered to about $50 per gram.
The study, published in the Proceedings of the National Academy of Sciences, finds the rise in bitcoin prices is due to “a surge in demand for bitcoins” and the use of “new technological features” to facilitate trading.
The rise in the price is due largely to a new “trading platform” that allows users to trade “for bitcoin” and “for a commodity such as oil.”
The platform allows “an unlimited number of users to participate, allowing a highly liquid and efficient market for bitcoins and other commodities.”
The study found that between July 2018 and December 2020, bitcoin traded for $4.4 billion and accounted for about 30% of all trading volume in the bitcoin market.
The report said this rise is likely due to increased adoption of the technology in China, where it has become more popular.