How High Can Bitcoin Jump?
One of the main questions on people’s minds these days is how high can the price of Bitcoin go.
Which factors should we take into account?
There are news events that get people excited about the future of Bitcoin.
On October 9, 2020, Square announced that they had purchased 4,709 Bitcoins for $50 million, which is about 1% of their total assets.
On October 21, 2020, PayPal announced that they launched a service enabling their 300 million users to buy, hold, and sell cryptocurrencies. Beginning in early 2021, PayPal customers can use their cryptocurrencies to pay for products and services at PayPal’s 26 million merchants around the world.
On December 2, 2020, Visa announced that it has partnered with BlockFi to offer the first credit card to issue 1.5% cash back rewards in Bitcoins, instead of points or miles.
On December 4, 2020, MicroStrategy announced that they purchased an additional 2,574 Bitcoins for $50 million. They now hold 40,824 Bitcoins, which are worth approximately $750 million.
On December 10, 2020, MassMutual announced that they invested $100 million in Bitcoins. Established in 1851, it is one of the oldest financial institutions in America. It marks a true turning point in the history of Bitcoin and cryptocurrencies in general.
