According to Crypto.com, this growth is largely driven by strong Bitcoin adoption which was a 15.7% increase. Other factors that seem to have driven the sharp upturn in adoption include the huge growth of decentralized finance (DeFi) since last summer, PayPal’s decision to enable customers to hold bitcoin, and the massive institutional adoption of cryptocurrencies by mainstream companies and highly regarded investors like Stanley Druckenmiller.
Bitcoin likely to go ‘considerably higher’: Investing star Bill Miller
A day after calling bitcoin ‘rat poison’ for cash Miller said that the cryptocurrency ‘gets less risky the higher it goes’
When an interviewer asked Miller if he is as excited about the coin as he was in early November, when it was worth under $15,000, he answered, “absolutely. One of the things that’s interesting about Bitcoin is that it gets less risky the higher it goes, and that’s the opposite of what happens with most stocks.”
Bitcoin hits $40,000—briefly
The first cryptocurrency made it past a psychologically powerful barrier on the heels of a weakening dollar and growing acceptance by mainstream investors and financial institutions
Bitcoin briefly cracked $40,000 on Jan. 7, reaching a new all-time-high of $40,180.15 at 1:21 p.m. EST according to CoinGecko. It then plummeted nearly $3,000 before jumping back to its current $39,200.
Financial giants power Bitcoin’s $20,000 bull run
As institutions and big-name investors pile in, the first cryptocurrency passes a big psychological milestone
The long-awaited Dec. 16 milestone follows a string of high-profile investors and financial firms jumping very publically into bitcoin. This includes Wall Street legends Stanley Druckenmiller and Paul Tudor Jones, Mexican billionaire Ricardo Salinas Pliego, and CNBC “Mad Money” host Jim Cramer, who have all revealed bitcoin investments this year.