Bitcoin is on a Path to $100,000
Bitcoin is on a path to $100,000 and beyond should be the title but they are solely talking about 2021. Cheers to all here, we have passed the $56,000 mark and are well on our way to $100k
Bitcoin is on a Path to $100,000 (and Coming for your Gold)
The world’s leading cryptocurrency has passed the half-way mark toward $100,000 and traditional investors are climbing on board. Decrypt has recently reported that crypto has reached 1.6 trillion in market capitalization with much of that value reflecting Bitcoin’s impressive run which brought it above the $52,000 mark this week.
Bitcoin’s recent performance has the attention of even the no-coiner investors — including private investing firm Motley Fool which just purchased $5 million in Bitcoin, just months after saying they would never invest in crypto. Another new entrant into the Bitcoin market is BlackRock, the largest asset manager in the world.
The reasoning is new investors are seeking a reliable safe-haven asset. Holding value is one function of a currency, though perhaps not the primary intended use of BTC according to its white paper.
It seems that Bitcoin’s gain is gold’s loss. Gold has been falling since July 2020, while Bitcoin has steadily risen, creating an all-time low in the gold-to-bitcoin ratio.