Bitcoin has soared above $51,000 level as the growing acceptance of Bitcoin continue to draw in mainstream investors.
As the cryptocurrency surges to all-time high huge investors are hoarding it, supporting bitcoin’s rising valuation. Bitcoin now stands as the world’s biggest cryptocurrency after several firms started accepting the coin as payment among them Elon Musk CEO of Tesla.
Elon pushed the latest climb when it announced the purchase of $1.5 billion worth of bitcoin. Also, Twitter CEO Jack Dorsey announced bid to invest in Bitcoin in Africa and India with the launch of ₿trust.
International Investment firm, EXANTE’s co-founder Anatoliy Knyazev says investors should be buying Bitcoin, not Gold.
“For me, Gold as lots of cons and no pros, whereas Bitcoin has so many pros. Demand for Bitcoin exceeds supply. Institutional investors and funds are buying more than is mined,” Knyazev says.