Why Bitcoin is the New Digital Gold and Headed Much Higher
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Cathie Wood, CEO, Ark Innovation Fund
Bitcoin hit an all-time high of $45,000 after CEO
Elon Musk announced in a U.S Securities and Exchange Commission filing last week that Tesla, the electric car company, has “invested $1.5 billion in bitcoin” and will soon start accepting it as payment for its products.
Simon Peters, an expert on cryptocurrencies at eToro, concluded, “If there were any doubters as to the mainstream acceptance of bitcoin, this surely must mark the end of any skepticism. Multiple other brands already accept bitcoin as payment, and we would imagine that, in time, other major companies will follow Tesla’s example.”
Morning Brief (ET Bureau) The Bitcoin Buzz: With 300% growth in 2020, why it s the new digital gold for investors
Rachita Prasad | 19:57 Min | January 07, 2021, 8:01 AM IST
In a year of many lows, cryptocurrency Bitcoin’s value rose 300% in 2020. As investors grapple with the fear of missing out, CEO of Bitbns’ Gaurav Dahake and ET Prime’s Sidhartha Shukla decode the recent boom in the cryptocurrency market and tell us why Bitcoin is the new digital gold for several investors today.
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