The hangover cure from the 3-year bear market seems to have been remediated. Bitcoin has matured from a speculative retail asset to an institutional hedging tool against widespread fiat currency devaluation. Companies such as Square and Microstrategy have committed $50m and $425m of their reserves to bitcoin, with CEO of MicroStrategy (a Nasdaq listed company) stating bitcoin as being ‘the best treasury asset’ of the world. This is a short snippet of what’s happening with a nascent asset that is on the cusp of achieving mainstream adoption.

In my blog from Dec 2018, I wrote about the retail market being in complete dismay after bitcoin had dropped from $20,000 to $3,100. Subsequently, this turned out to be the bottom of the bitcoin bear market. Besides the element of tooting my own horn, I made a point in that blog that the groundwork was being laid out to onboard institutions. Recently, we’ve witnessed a run from $10k to $16k (and still going) and this in large part is NOT down to retail investors, but rather, institutional money. …

About

Jusuf Serifi

Exploring the unknown. @twitmeserifi

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