Bitcoin Cracked $30K (In Your Face, Uncle Steve!)
Article source, here.
TL;DR
Bitcoin is up 80% so far this year (breaking $30K on Monday).
Why? The theory is: BTC is being seen as a reliable store of value that lacks the issues that come with storing your money by way of a third-party intermediary, or a bank...
This is a sentiment that the Bitcoin community has held for the past decade, but the broader market is only just now starting to adopt.
Full Story
You know that trope in films, where the nerd from high school rolls up to McDonald's in a BMW, only to be served by the jock that bullied them?
Yeah, well - our family gathering over the Easter break was kind of like that.
We didn't roll up in a BMW, instead we brought news that Bitcoin is up 80% so far this year (breaking $30K on Monday).
...and 'the jock that bullied us' was our uncle Steve who kept asking "how's that 'digital gold' of yours going, bud?" over the Christmas break (when BTC was hovering around $16K).
And honestly, having lived it - we gotta say - retribution is sweet!
So why the continued rise of Bitcoin? Aren't we still in a bear market?
Kinda. But it looks as though the broader market is starting to adopt the same sentiment that Bitcoiner's have held for the past decade or so.
Richard Mico, the CEO of Banxa, a payment-and-compliance infrastructure provider for crypto, summed it up perfectly:
"BTC is also being seen as a reliable store of value that lacks the issues that come with storing your money by way of a third-party intermediary, or a bank... BTC is now properly starting to be perceived as a risk-off asset."
Keyword there: properly.
As we said, the BTC community have held this view for a while, but it appears the theory is only now being proven true in the minds of broad market traders.
Now, to balance things out: we're probably getting ahead of ourselves here.
Bitcoin gained $1500 over the weekend. It's not the craziest jump, and it could disappear very quickly.
...but for now - say it with us - TAKE THAT UNCLE STEVE!