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Bitcoin

Bitcoin Goes Mainstream – More Wall Street Companies Are Piling In

Bitcoin has been making a lot of headlines these days after the king coin was able to slash through the ATH and hit $20k and beyond.

At the moment of writing this article, BTC is trading in the green, and the coin is priced at $22,905.56.

Bitcoin has been featured in the mainstream media a lot, and this reportedly helped the mass adoption begin these days.

After publishing other pieces not too long ago, Bloomberg shared a new piece on Bitcoin, highlighting that BTC is finally going mainstream.



More Wall Street firms invest in BTC

The prestigious online publication notes that more Wall Street names crowd into the world’s largest digital currency, up 220% this year.

They write that as momentum builds, analysts predict more gains ahead.

The price of Bitcoin was able to surge from about $4k back in March to over $23k in December. Cryptocurrency-linked stocks in South Korea, Japan, and China climbed.

On December 16th, the king coin started fresh in the morning from around $19,300 and managed to break the ATH of $20k. Then BTC smashed through $21k and $22k, and it passed $23k as well.

Bitcoin’s parabolic price

Bloomberg also makes sure to share what people in markets are saying about Bitcoin’s move:

The “price will now go from linear to parabolic” in part because retail investors have so far largely been “out of this rally,” said Kay Van-Petersen, global macro strategist at Saxo Capital Markets Pte in Singapore.

“The move above $20,000 has been coming, and I’m probably a little surprised it didn’t come sooner,” said Craig Erlam, senior market analyst at Oanda Europe Ltd.

He continued and said, “Fed stimulus may have given it an extra kick but, let’s face it, Bitcoin doesn’t need it. A break above $20,000 may bring the buzz and a strong end to the year.”

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