Despite a real changeable year for Bitcoin, it has experienced lots of ups-and-downs, from the bottom of $4,000 to now aim at the bark of $16,000. Moreover, not only the institutional investors like MicroStrategy, PayPal, and JPMorgan have shifted their eyes on the top cryptocurrency, so do Billionaires all around the world.
Recently, Stanley Druckenmiller, the billionaire macro investor, showed his positive attitude towards Bitcoin in an interview, which has also been expressed by many of his peers – including Paul Tudor Jones and others, who truly believed that Bitcoin is capable to be a reserve asset and as an investment.
He also noted during the interview with CNBC, the top crypto could seriously replace gold to be safe-haven investments anytime soon. Such a statement seemed to derive from what he said one year ago when he noted he doesn’t want to own any BTC and that he doesn’t “understand why it’s a store of value.”
It happens that there is a similar case. Paul Tudor Jones also expressed similar opinions that Bitcoin is likely to be the “fastest horse” in the race against inflation.
Why their opinions towards change so soon?
As is known to all, COVID-19 pandemic laid a harsh pressure on Bitcoin in the March of this year, however, it, to some extent, helped Bitcoin to be more understood by the public. The pandemic led people to realize the nature of blockchain and cryptocurrencies, which also made the top cryptocurrency to be more accepted by the public.
In addition, Bitcoin’s limited total supply (22 million coins) prevents investors from concerning whether it will be in a massive inflation. On the other hand, Bitcoin has performed much better that its competitor like gold and traditional stock market.
This month even saw it hit a new all-time high, now aiming at the bark of $16,000, while its competitors are still lagged behind.
Currently, increasingly numbers of investors both individual and institutional get involved in Bitcoin. Bitcoin might surly take some place in the future financial market, and even truly become the so-call global payment system.