• Bitcoin billionaires are back, with the world’s number one digital currency currently on the verge of striking $30K per unit.
• Analysts have suggested that this spike is due to recent banking issues, which has highlighted the vulnerability of traditional financial sectors.
• Crypto bulls such as Mike Novogratz, Michael Saylor and Tyler Winklevoss have all expressed their enthusiasm for the current bull run.
Bitcoin Billionaires Making Serious Return
Bitcoin billionaires are back in the spotlight as the world’s number one digital currency by market cap is on the verge of hitting $30K per unit. This spike could be attributed to recent banking crises that have highlighted vulnerabilities in traditional financial sectors, causing investors to become wary of keeping money in banks. Crypto bulls like Mike Novogratz, Michael Saylor and Tyler Winklevoss have all expressed their enthusiasm for this current bull run.
Reasons Behind Bitcoin Spike
Analysts believe that this surge can be linked to a seven-day period at the end of March where bitcoin rose nearly 40 percent and reached a nine-month high. Senior market analyst Alex Kuptsikevich commented: “The worse the banks are doing, the better cryptocurrency is doing.“ Investors’ fears that keeping money in banks can be risky are coming to light once again due to banking problems in both Europe and America.
Crypto Bulls Express Enthusiasm
Crypto bulls such as Mike Novogratz wrote on social media: „This is our time!! Let’s go team $BTC!! Let’s go $ETH!!“ Software giant MicroStrategy CEO Michael Saylor also said: „A timely review explaining why #bitcoin is superior to conventional banks…will help defend against asset seizures, inflation fraud, bank failure and counterparty risk.“ Lastly, Tyler Winklevoss – one half of Gemini exchange executive pair – expressed his excitement for this bull run saying „$30K bitcoin by the end of weekend?“
Central Banks Consider Cryptocurrency Adoption
The banking sector’s struggle during this time has caused some central banks to consider cryptocurrency adoption as a means of protecting themselves from future financial crisis‘. China has already begun researching its own digital currency while other central banks across Asia are also considering creating their own cryptocurrencies or supporting blockchain technology.
The world’s leading cryptocurrency appears unstoppable right now as it continues its march towards becoming a mainstream asset class; an achievement which could be made possible if more central banks begin adopting cryptocurrencies or supporting blockchain technology. With crypto bulls continuing to express their enthusiasm for bitcoin and other cryptocurrencies, it looks like 2021 may finally bring about widespread acceptance for these digital assets amongst institutional investors around the world..