People around the world are taking interest in BTC. Now more than ever the currency is popular with wall street investors buying bitcoin.
The investment in crypto is increasing at a fast pace. Many financial investments have lost appeal lately but not bitcoin. The poster child of cryptocurrency is still driving the spectators crazy with its bullish rallies.
Bitcoin price has had quite a month. It increased in price by more than 100% within weeks. Individuals and companies both are buying crypto with zeal although the currency’s value seem to have some corrections. The price of bitcoin is lingering at $32K at the time of this writing.
The bitcoin’s fundamentals haven’t undergone any significant change. But one important change we do see is the people’s attitude towards cryptocurrency. Many adversaries of crypto have become its supporters. For instance, the Ex prudential Securities said in August that ‘it is time to buy bitcoin’. Other financial advisors have also suggested that buying bitcoin is the sane choice in the wake of a pandemic.
Bitcoin is open-source and decentralized. Governments can print more paper money but miners can’t mine more bitcoin than 21 million. The value of BTC cannot be undermined by the decisions of any central authorities. It is inflation-proof according to nature.
Such factors have increased people’s belief in bitcoin. It has become the ‘digital gold‘ of our times.
The positive news coming out of crypto arena has attracted Wallstreet investors as well. Paul Tudor Jones, the most successful trader in the world, announced in May 2020 that he is buying bitcoin. This set the stage for other traders to jump in and buy BTC.
Bitcoin still remains a thinly traded asset as compared to others. Nevertheless, there are big institutions, whales and even governments taking interest in bitcoin now. Hence we can say that future is bright for BTC.
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