Bitcoin (BTC) is in the middle of the Bull Run, its price is exploding and has just passed the $19,000 mark, the first time this has happened in three years.
This might be anecdotal, but in the end, it is rather indicative of a general trend and increased interest in Bitcoin: the famous Wall Street Journal website put an article on BTC on its home page on November 23.
The article featured a box with a graph of the price of Bitcoin and an article about the BTC on its home page.
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The text reads: “Cryptocurrencies have attracted a wide spectrum of investors such as Wall Street billionaires Paul Tudor Jones and Stanley Druckenmiller, as well as other public figures, including a sports radio host.
Recently, Bitcoin has attracted the attention of large hedge fund managers such as Grayscale Investments as well as individual investors who can now access encrypted assets through traditional financial services companies.
According to Cointelegraph, the article states that “Bitcoin’s volume on Square’s Cash application was $1.6 billion in the third quarter of 2020, compared to $555 million for the full year 2019. Trading activity on the US exchange ItBit also increased after it was revealed that Bitcoin trading services via PayPal would be executed through the platform”.
Recently PayPal CEO Dan Shulman predicted in an appearance on CNBC that the growing adoption of Bitcoin in everyday life would see cryptocurrencies “go from being less and less of a simple asset class to more and more of a currency. As paper money gradually disappears, central banks, especially retail banks, will have to replace this paper money with forms of digital currency”.
Public interest in cryptocurrencies has been on the rise these last few weeks and we can now truly expect the bull run to continue with the support of new money coming into the space.