Bitcoin, The First Cryptocurrency, which was presumably developed by Satoshi Nakomoto is now the most successful digital currency which has the potential to be the currency of the future. While this may be right, it still depends on whether the public accepts it as well as the government. However, Jamie Dimon, Founder of JP Morgan Chase, who some people know as the one who criticized bitcoin as a "fraud" now sees it as an alternative currency. A way for a long term success. Some even said that millennials seem to pick bitcoin than gold which helps bitcoin to gain a foothold in the modern world that even an online payment system like PayPal decided to add a way to buy cryptocurrencies.
He was once labeled it a fraud but now he thought that Bitcoin's value isn't all because it is a means to store wealth but also a utility for payment. With this, the more people accept cryptocurrencies, the more its price will rise.
Although he said that, the corporations quickly adopting bitcoin will probably speed up the rise of its price. Some of it is due to the recent corporations like Square, Paypal, Coinshares, and Microstrategy Inc.
Even Billionaire Paul Tudor, who caught the crypto community by revealing on a show that he invested around 1-2% of his current assets in May. He also said that Bitcoin would become the best inflation as well as defensive trades that you should take.
Due to them, Bitcoin's price has already reached the $13,000 threshold but during this time, it is down to $12,962.07 according to bitcoin.com.
In conclusion, Bitcoin's price hike is just getting started. When more and more large companies or corporations decided to adopt cryptocurrency, the supply will shrink while the price will rise.
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