It took almost three years, but Bitcoin has reached a new All-Time High! This seems to be driven by largely institutional, rather than retail investors.
This can be visualized by looking at Google Trends, an indicator of retail investor interest (people Google Bitcoin a lot before buying it, as you can see by 2017’s retail lead bull market):
Here are some articles that may explain some of what we’re seeing:
- Guggenheim says Bitcoin should be worth $400,000
- MassMutual Buys Bitcoin for Cash Reserves
- Paul Tudor Jones likes Bitcoin, thinks it’s still early
- MicroStrategy holds Cash Reserves in Bitcoin, raises $ to buy more
- BlackRock’s Fink thinks Bitcoin could be global market asset
For those of you who have been HODL’ing for three years or more, I hope that you have enough energy left to be excited! For those of you new to the space, welcome! Either way, hopefully we’re in for a wild ride. Hodl on tight!