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Bitcoin is on the rise

Cartoon of people celebrating "BITCOIN" with rocket and "TO THE MOON," urging to buy bitcoin.
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Whether you see bitcoin as a short-term investment, a hedge, a new asset class, or a store of value, one thing is for sure, bitcoin is here to stay and it is thriving.

Bitcoin has surged last on Monday (November 30) to its new all-time-high price of $19,864 bringing its year-to-date rise to an astonishing 140% and counting.

Here are 5 possible reasons why:

  1. Institutional interest has been increasing: several institutional players such as the Guggenheim Funds Trust, a hedge fund worth half a trillion dollars have been seeking the SEC’s approval to take a position in bitcoin, investing close to 10% of their net asset value in Grayscale Bitcoin Trust (“GBTC”) sending a strong signal to the markets.
  2. Bitcoin is a hedge: a series of high-profile investors have been flocking into Bitcoin as a hedge against the future inflation such as Ricardo Salinas Pliego, Mexico’s second-wealthiest man with a combined fortune estimated at $13.2 billion, who has been revealing he now holds 10% of his liquid portfolio in bitcoin, labeling government-issued fiat as being “worth nothing”.
  3. Bitcoin as a treasury reserve asset: large corporations such as Nasdaq-listed Microstrategy, converted 80% of their cash ($425 million) into bitcoin as their primary treasury reserve asset. Similarly, Square has been buying $50 million worth of bitcoin representing 1% of Square’s total assets with the same goal.
  4. Paypal paving the way for widespread adoption: allowing users to buy and sell a token that is following the price of several cryptocurrencies and use them as a funding source for e-commerce on 26 million merchants worldwide.
  5. The OCC letter: allowing state banks to hold cryptocurrencies for their customers and act as the custodians for a close to $200 billion in market capitalization.

So whatever your stand is on Bitcoin, it’s time to think of the future of your portfolio.

Diversify, hedge, and believe. The future is borderless and is decentralized. Make sure you are participating in it!

Buy Bitcoin today with Coinmama!

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