Bitcoin is recovering from a previous drop, amid a broader recovery in risky assets following a report from the US Labor Department that the country added more than expected jobs last month. To a large extent, the recovery of the main cryptocurrency was facilitated by its support by large investors.

Last Friday, bitcoin fell in price by 3,4% and as of 9:02 am in New York (17:02 Moscow time) its value was about $ 48. The Bloomberg Galaxy Crypto Index, which includes bitcoin and four other tokens, fell more than 150%.

As for supporting large investors, MicroStrategy announced the purchase of another 205 bitcoins at an average price of $ 48.Considering this acquisition, the company now owns about 888 tokens worth more than $ 91 billion.

Bitcoin is currently around $ 10 below its February record of over $ 000.

The number of jobs increased by 379 compared to the revised forecast for growth of 000 workers in January, according to a US Department of Labor report released on Friday. Economists surveyed by Bloomberg had forecast job growth in February in the range of 166. The unemployment rate fell to 000%.

Longtime cryptocurrency supporter Michael Novogratz of Galaxy Digital Holdings Ltd. remains optimistic about bitcoin, repeating on Thursday that it will reach $ 100 by the end of the year. …

Experts are divided. Some believe that the token is able to hedge the risk of inflation, depreciation of fiat currencies and even gold – in their opinion, it should take a noticeable share in institutional portfolios. Other experts consider him incentive-fueled a bubble that is about to burst.