About 9 years ago, the market volume reached 1 billion dollars, with the value of Bitcoin (BTC) exceeding $ 95. Since then, Bitcoin has never faltered, reaching the $69,000 ATH level in November 2021, surprising all markets. Today, what really surprises economists is that Bitcoin (BTC) has exceeded the volume of 450 billion dollars even in the current markets.
Discussions Continue as Bitcoin Ripples
The leading cryptocurrency Bitcoin (BTC) has been subjected to various accusations many times since its release. Some said ponzi, some said honey. However, with the emerging markets, Bitcoin managed to surprise the markets with the altcoins it brought with it. In addition, JPMorgan’s assessment of Bitcoin and cryptocurrency as an “alternative asset class” that surpasses real estate has also increased its global recognition. The comments of many experts in the past continue in the same way today.
Lawrence White, professor of banking and monetary history, said on April 2, 2013:
“It is a mystery that Bitcoin has such a positive outlook despite not being issued as a typical currency.”
After making Bitcoin ATH in February 2021, Deutsche Bank strategist Jim Reid said:
“It has arguably started to grow as it created its own relevance, as companies and institutions entered a space they wouldn’t have entered a few months ago.” Additionally: “Ironically, it is rebounding too late, and also by increasing institutional engagement, making itself a trusted asset class for a large audience.”
Ken Griffin, CEO of the Citadel investment firm, also described condescendingly:
“I don’t see the economic basis of cryptocurrencies. I understand how to think about exchange rates around the world. I don’t know how to think about how effective the digital token is.” he had expressed his thoughts. However, Bloomberg’s senior commodities expert Mike McGlone defined the run to 1 trillion as digital gold in his tweet on November 16, 2020.
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