Aljazeera
After topping $100,000, Bitcoin supporters see the cryptocurrency soaring even higher.
Bitcoin has proven to be one of the best-performing assets in modern history. The value of the cryptocurrency has increased some 1,000 times over the past decade, far outpacing US stocks and real estate.
Buoyed by United States President-elect Donald Trump’s crypto-friendly stance, Bitcoin’s record rally hit a new high of $107,000 on Monday after the Republican reiterated his intention to create a Bitcoin strategic reserve. Once widely derided as a speculative asset with no intrinsic value, Bitcoin is being taken increasingly seriously by governments, financial institutions and investors alike.
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The key attribute of Bitcoin that makes it revolutionary is that it separates money from the state, according to Max Keiser, senior Bitcoin adviser to El Salvador President Nayib Bukele.
“This is the first time in history that this has ever happened – money exists that has no central authority controlling it. This is what makes it unique, very powerful,” Keiser told Al Jazeera.
“There’s now this growing feeling that the 21st century will be the century of Bitcoin.”
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