Bitcoin jumps over US$50,000 for the first time in history and investors with deep pockets are joining the crypto space. Although it has been a roller-coaster ride for Bitcoin in the last few years, however amid COVID-19 and courtesy of a push by big industry maestros like Elon Musk and few others, Bitcoin seems to be racing its way to $100k price soon.
According to rough estimates and some stats, BTC is about to be valued at $1 trillion which is at par or above when you compare its worth with Gold, the latter losing its value since July 2020. It is safe to establish that BTC and Gold are arch-rivals now. People like Robert Kiyosaki have advocated the acquittance of BTC as it seems to be the future, at least that is what he believes.
As Bitcoin cites $1 million, some analysts are bullish while some pundits warn of huge risks ahead. Elon musk believes Bitcoin is better than holding cash, of course, he was mentioning to US dollar as Tesla begins to accept BTC as payments.
On the other hand, companies like Uber are not ready to buy Bitcoin but ready to accept it as payment, CEO Dara Khosrowshahi told CNBC last week.