Hello and Namaste Everyone
We have been hearing a lot good and bad about bitcoin and crypto but seems like this year 2021 will change the mindset of many people towards crypto.
Some people used to say that Bitcoin and cryptocurrency are a bubble that will burst one day entire money will be zero value so do not invest any money in this segment. today when we have achieved the milestone of a two trillion U.S. dollar market cap of all the cryptocurrencies that also includes one trillion for Bitcoin itself. As far as I know, then one trillion market cap for Bitcoin itself is a huge amount and not at all easy to achieve however it took almost 11 years to happen but it still for a company that is aiming for this much of market cap will require many decades and there is no surety that this will happen.
Today in the year 2021 Bitcoin has become so big find it's quite bigger than some of the country’s economy and even the total market valuation of many companies. is it still right to say that it's a bubble and my bust anytime? I don't think so because since that time I have joined triple space I have seen it growing and I have completed only two years in this space. I see a lot of people talking about that Bitcoin was not even $1000 when they joined but since I did not witness so can't share my opinion about that but yes looking at the history there has been a significant increase in its price and now it is not surprising to expect the Bitcoin price reaching 100,000 U.S. dollars.
as Bitcoin adoption increases, those same companies will likely be forced to move some of their cash positions to non-inflatable assets, ensuring demand for gold, silver, and Bitcoin.
The bull run in cryptocurrencies is going on this time it's quite different than the last we had 17 because institutional money is poured into this segment good thing is that these companies are not here for the short term. many of the companies have moved their cash balance into Bitcoin and showing it on their balance sheet is a good reason for them to hold for the long term and it will also help the Bitcoin price to grow further in coming years. traders usually buy and trade however some holders hold it for some time but I believe that these companies are going to hold it for quite a long term that will be a solid reason to boost the price.
Overall I can say that it's not a bubble that will burst soon instead it's a kind of instrument that can empower many countries and companies if they try to join the trend and digital currencies will be the future in coming years. I'm not saying that this will be used as a payment option but for sure it's going to change the paradigm ask investment and various payment services.
thank you so much