Cryptocurrencies have soared in value. Within a decade, they have gone from a fringe obsession that allowed digital currency holders to conduct business outside the financial system to an alternative investment managed as if it were any other financial investment.
It is for this reason that the price of a single Bitcoin has gone from zero to over $30,000 during this period and is expected to continue its dizzying ascent.
“As Bitcoin is becoming more and more accepted and used by the general public, financial giants are interested in crypto-currencies and want their piece of the pie,” said Joel Revill, Chief Executive of Two Ocean Trust, a wealth management firm that offers investment services for traditional and digital assets. “They want to treat it like any other asset. They want transparency, and they want to be able to plan around it. »
Digital currencies still have a long way to go before they become traditional investments. But the change in the markets’ approach to BTC is promising and we could see this crypto currency rapidly reach the $40,000 threshold.