Paul Tudor Jones a Wall Streed billionaire says buying Bitcoin is like investing in Google or Apple in its early days. The cryptocurrency has come a long way in the ten years but still, it’s a roller-coaster ride as the price keeps rising and falling. In 2017, we saw extreme bullishness that raised the price to US$20,000 before falling it to the lows of $8,000 in 2018. In 2020, despite the pandemic, the currency seems to be showing signs of bullishness again and it seems like it might just cross the $15,000 barrier anytime soon.
In a country where the world’s third-richest man Warren Buffett has said that Bitcoin is a bubble, many other pundits are rooting for Bitcoin including famous book Rich Dad Poor Dad author Robert Kiyosaki.
Just around six months back, the cryptocurrency was expected to reach the $10,000 mark but not only it has comfortably crossed the barrier but is on its way to the $15,000 mark. Currently, Bitcoin is traded at 13,140.50 United States dollars.
It seems that in the future Bitcoin will keep on appreciating to the point that it will trade more like gold than stocks.
Bitcoin’s price will continue to rise as people pile into the idea of adding this cryptocurrency to their portfolios. With many banks and credit card companies expected to catch up with PayPal’s recent decision to allow its customers to use cryptocurrencies as transaction the value of Bitcoin as an asset continues to strengthen.
Is Bitcoin the next Digital Gold?