As Bitcoin Tops to $8,600, Is It Wise to Bet Against the Most Successful Companies & Investors in the World?
- Bitcoin Price skys to $8,600 BTC/USD exchange rate as Market Cap Bounces $20B
- “Bitcoin is the millennial gold,” Erol Baliyan of Franck Muller
- Mainstream Giants Building & Investing in Crypto
- How wise is it to bet against the future of finance? You better not bet against cryptos
The 10-year old world’s top cryptocurrency has been enjoying a bullish wave for the last two months which took a bigger leap in May. As we have reported, Bitcoin technicals, fundamentals, and adoption are strong and have just pushed the BTC/USD exchange rate to a current day high of $8,615 according to Coinmarketcap as Coinbase charts put the price of BTC at $8,650 at the time of analysis.
And just for historical reference point, the last time the price of Bitcoin was over $8,600 USD in value was May 13, 2018, a year and two weeks ago when of course it was its way down to the bottom later last year in December of 2018 to sub $3,100 levels.
When it comes to price, the leading cryptocurrency which is up more than 110 percent till date in 2019 is your best bet that is outperforming traditional assets like S&P 500, oil, gold, and government bonds among others.
Friday night. Holiday weekend.
Stock market closed.
Bitcoin market just getting warmed up 🔥
— Pomp 🌪 (@APompliano) May 25, 2019
With historically publish event, Bitcoin halving coming in 2020, things are looking even more bullish.
Currently, Bitcoin is trading at near $8,000 which is the 10-months high level, meanwhile traders, and investors waiting for the next move that could see it going above $10,000.
The Millennial Gold
Bitcoin is slowly making its way into the daily lives of people as it can be now used to pay for coffees and food at Starbucks, Whole Foods among many other stores. Apart from gradually becoming a part of regular lives, it is also presented as a symbol of luxury.
High-end Swiss watchmaker Franck Muller is releasing the Bitcoin storage watch “Encrypto” that is reportedly engraved with a public address on its dial and also comes with a private key on a USB drive.
“Bitcoin is the […] perfect marriage between innovation and personal choice,” says Erol Baliyan, regional director of Franck Muller who added, “Bitcoin is the millennial gold.”
Previously, a Swiss luxury watchmaker Hublot released a limited edition model to celebrate the 10th anniversary of Bitcoin white paper.
Big Industry Giants are all up in Cryptos
However, these are not the only factors that are working in this cryptocurrency’s favor. Among many other integral and long term aspects of the flagship cryptocurrency, one is the big giants that are building and investing in cryptocurrencies.
This week in crypto:
1. Binance launching margin trading
2. Robinhood launches crypto in NY
3. AT&T accepts BTC for bill payment
4. Grayscale’s ETH Trust approved
5. Montana law exempt utility tokens
6. Bitcoin is still not dead :)
Don’t bet against crypto!
— Pomp 🌪 (@APompliano) May 25, 2019
To name a few, Fidelity, Nasdaq, Fairfax County Pension, Microsoft, Huawei, Harvard, MIT, Starbucks, NYSE, Yale, Alibaba, IBM, Union Square, Samsung, a16z, SWIFT, China Mobile, Amazon, Founders Fund, Facebook, PayPal, JPMorgan, Bell Labs, Dell, NASA, SBI and many others have been exploring and building in crypto space.
Big and important list of established firms. Though we shall not forget that most of the work, building and innovation in Bitcoin and crypto is done by small companies, new startups and committed individuals. Cheers to the small guys and Morgan Creek! 🍻
— Gabor Gurbacs (@gaborgurbacs) May 22, 2019
As Bitcoin advocate and Morgan Creek’s Anthony Pompliano asks, “Are you going to bet against the most successful companies & investors in the world?”
Well, if you are going to then, it is most likely you are going to lose it.
Bitcoin’s price is $33,679.74 BTC/USD exchange rate today. The real-time BTC market cap of $626.18 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $24.16 Billion and live coin value change of BTC 4.81 in the last 24 hours.