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November 26, 2020 08:05 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/9G1ZqwfEe8Y/bitcoin-at-100000-in-2021-outrageous-to-some-a-no-brainer-for-backers
Bitcoin at $100,000 in 2021? Outrageous To Some, a No-Brainer for Backers
Bitcoin investors, which include top hedge funds and money managers, are betting the virtual currency could more than quintuple to as high as $100,000 in a year. From a report: It's a wager that has drawn eye-rolls from skeptics who believe the volatile cryptocurrency is a speculative asset rather than a store of value like gold. Since January, bitcoin has gained 160%, bolstered by strong institutional demand as well as scarcity as payment companies such as Square and Paypal buy it on behalf of customers. Bitcoin is within sight of its all-time peak of just under $20,000 hit in December 2017. It debuted in 2011 at zero and was last trading at $18,415. Going from $18,000 to $100,000 in one year is not a stretch, Brian Estes, chief investment officer at hedge fund Off the Chain Capital, said. "I have seen bitcoin go up 10X, 20X, 30X in a year. So going up 5X is not a big deal."Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/9G1ZqwfEe8Y/bitcoin-at-100000-in-2021-outrageous-to-some-a-no-brainer-for-backers
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