In the last two months of the year 2020, the price of bitcoin has matched and surpassed its 2017 all-time high. But unlike the previous time, the general feeling is not that we find ourselves in a bubble that is about to pop. On the contrary, it feels like major investors and hedge fund managers are just discovering that Bitcoin can help them protect their savings against the inflationary tendencies or the US dollar.
“I think that Bitcoin (and some other digital currencies) have, over the last ten years, established themselves as interesting gold-like asset alternatives, with similarities and differences to gold and other limited-supply, mobile (unlike real estate) store holds of wealth.”
“Do not assume that your traditional currencies are the only stores of value, or mediums of exchange, that people will ever trust. Tech-savvy people are not likely to stop looking for alternatives, until they find or invent one.”