After the financial crisis that hit the world in the past, and then Bitcoin was born. However, major Wall Street investors at the time viewed it with skepticism and considered Bitcoin an obscure investment. However, many large investors are now turning to Bitcoin. The price of Bitcoin has just reached an all-time high and broke through the fifty thousand dollars and that is the first time in Bitcoin history and is predicted to continue to increase. Is this a sign that cryptocurrency can finally become an acceptable asset for conventional investors?

Bitcoin will be the goal of conventional investors

As is known, many well-known large companies have now accepted cryptocurrency as a means of payment transactions. Starting from Paypal, Tesla, Mastercard, and most recently Apple. These transactions are carried out through a third party company called Bitpay. Bitpay revealed that the presence of the Apple Pay service will make it easier for users to buy various products manufactured by Apple.

Ghost Asset Cryptocurrency

Unlike fundamental investments such as gold, property and stocks, cryptocurrency is not the first choice among traditional and institutional investors. Some of the reasons why are; The stigma that still lingers in the minds of conventional investors is that Bitcoin is considered a ghost asset. This is because crypto assets are an intangible form of digital asset. Another factor is Bitcoin has a limited amount. Coupled with the price which is known to be very volatile.

Bitcoin is a big bubble

Analysts believe that Bitcoin is very risky. Bitcoin is also very volatile and raises new concerns about a big bubble. Even so, some analysts still believe that Bitcoin is a new and innovative form of finance in the future.

Being a Bitcoin Investor Previously Anti Bitcoin

Bitcoin has been around since 2009, but its popularity only started to skyrocket among institutional investors at the start of last year's pandemic. Bitcoin may be the most popular crypto asset, but not everyone likes Bitcoin. There are many doubts about Bitcoin and cryptocurrencies, especially among conventional investors. However, there are also some skeptics who were initially anti Bitcoin, now turning to Bitcoin investors. Here are some of the names of well-known skeptics who eventually changed their minds about Bitcoin:

• Niall Ferguson

Niall is the author of The Ascent of Money. In 2019, Niall said that he was very wrong about Bitcoin and other crypto assets. This realization took place five years after Niall bought Bitcoin.

• Joe Weisenthal

The former executive editor of the leading business website Business Insider once wrote that Bitcoin is a joke and a bubble. Only about a month later, he wrote I Changed Your Mind About Bitcoin, in which he retracted his initial statement about Bitcoin.

• Don Tapscott

For those of you who like to read books about cryptocurrency, Don Tapscott's name may be familiar. Don Tapscott is the co-author of Blockchain Revolution. Before becoming the author of the book, he was skeptical about Bitcoin.

• Elon Musk

In November 2017, Musk denied allegations by one of his former SpaceX interns that he was Satoshi Nakamoto, the mysterious inventor of Bitcoin. Musk is actually not skeptical of Bitcoin, but at first he was not a supporter of Bitcoin. In 2018 when asked on Twitter how much Bitcoin he had, he replied that he surprisingly only had 0.25 Bitcoins sent by a friend a few years ago. And claims not to own any crypto assets.

In 2021, his company Tesla bought US $ 1.5 billion in Bitcoin and said it would accept payments in cryptocurrency very soon. Musk also changed his Twitter profile to # Bitcoin, making the Bitcoin price jump in an instant! And in a recent appearance on the Clubhouse app, he said that he is a Bitcoin supporter.

Closing

As is well known, investing in Bitcoin and other cryptocurrencies is a high-risk investment digital asset. And Bitcoin's value often fluctuates and is unpredictable. It is important to note that, before you invest in any company or asset, you need to be clear about it. And when it comes to cryptocurrency, then you need to be more careful and understand the risks involved in it. So, are you a skeptic, or a believer?