Bitcoin has been exploding in 2020 in popularity and price-wise as well.
After the coin dropped below $4,000 back in March when the novel coronavirus started spreading like crazy, now, the king coin is definitely racing towards new ATHs.
At the moment of writing this article, BTC is trading in the green, and the coin is priced at $18,912.99.
The mainstream adoption of Bitcoin and digital assets has also been going great with a lot of help from PayPal and other institutions these days.
Business Insider notes that Michael Sonnenshein, managing director of Grayscale Investments, the largest digital currency asset manager, is praising the power of Bitcoin these days.
The growing involvement of major players in the financial services realm “really speaks to the staying power of the asset class and validates other people getting involved,” he told Business Insider in a new interview.
A digital form of money is the best these days
He also said, “I think they understand today that buying Bitcoin and putting it in their portfolio is meant to be a store of value, inflation hedge, a digital gold, a digital form of money that is much better suited to the digital world we live in today versus historical stores of value like gold which would have been certainly much more applicable to a world characterized by physical exchanges.”
He continued and explained that “They view it as one of the most important next steps in the evolution of money and what constitutes a store of value.”
We recommend that you check out the complete article in order to learn more about what he had to say.
Meanwhile, some pretty bold predictions about the piece of BTC keep popping up in the crypto space.
More Bitcoin maximalists also believe BTC could reach $100k or more in just a couple of years.