Bitcoin Valuation Tops $1 Trillion
The famous cryptocurrency Bitcoin is leading the way and proving that a decentralized currency that thrives in the free market can outperform other currencies and most investments.
Bitcoin has been through its ups and downs. At the writing of this article one Bitcoin is worth $57,291.50. In the past month the crypto has risen over 81% and in the past year over 493%. The financial pandemic caused by COVID-19 has drawn people to new types of investments that will boost their financial security.
From Bloomberg News:
(Bloomberg) — Bitcoin’s market value reached $1 trillion for the first time, a surge that’s helping cryptocurrency returns far outstrip the performance of more traditional assets like stocks and gold.
The largest digital-asset has added more than $450 billion of value in 2021 to more than $1 trillion, data compiled by Bloomberg show. The Bloomberg Galaxy Crypto Index, which includes Bitcoin and four other coins, has more than doubled.
Speculators, corporate treasurers and institutional investors are thought to have stoked Bitcoin’s volatile ascent. Crypto believers are dueling with skeptics for the dominant narrative around the climb: the former see an asset being embraced for its ability to hedge risks such as inflation, while the latter sense a precarious mania riding atop waves of monetary and fiscal stimulus.
Bitcoin is unregulated and it needs to stay that way. The moment government steps in is the moment that investors lose any and all control over their financial future.
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