Hard to believe it but true; the most famous digital currency has risen some 869% year-to-date. Bitcoin jumped to an all-time high of $9,721.
“The move appears to be retail driven,” said Brian Kelly, CEO of BKCM, who runs a digital assets strategy. The largest bitcoin exchange in the U.S., Coinbase, added something around 100,000 accounts between Wednesday and Friday to a total of 13.1 million.
Still, with the digital currency rise, many analysts have talked about a price bubble when commenting about bitcoin. For example, Jamie Dimon, JPMorgan Chase CEO, said people who buy bitcoin are “stupid” and sooner or later will “pay the price for it”.
Last week, a poll among CFOs showed that almost a 30% of 43 respondents believed bitcoin was “real but in a bubble”. 27.9% of the respondents thought the cryptocurrency was simply a “fraud”. 14% said they believed bitcoin is “real and going higher”.
Bitcoin is now worth seven times an ounce of gold. Its market capitalization is higher than IBM, McDonald’s or Disney.Trade now
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
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