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The price of bitcoin, the leader of virtual currency, has exceeded the record high of 33,000 dollars (about 35.8 million won). It also reached 37 million won in the Korean market.
According to Coinbase, the largest cryptocurrency exchange in the United States on the 3rd, the price of bitcoin rose to $33 million at 3:55 am (local time) on the same day. After surpassing $30,000 the day before, it rose more than 10% in one day. Bitcoin value, called’digital gold’, surged more than four times last year alone. It jumped nearly 70% in less than a month after surpassing $20,000 on December 6 of last year. In the Korean trading market, Bitcoin also rose significantly. Upbit traded at 36964,000 won per unit at 10 a.m. on that day, up 13.8% for 24 hours.
As some observers say that bitcoin’s strength as a’speculative frenzy’ comes out, it will be recognized as a real currency and asset. Michael Sailor, Chief Executive Officer of MicroStrategy, commented, “Institutional investors have seen a significant increase in Bitcoin as a hedge against inflation.”
Scott Minard, Chief Investment Officer of Guggenheim Investments, said in an interview with Bloomberg News, “The US central bank is releasing huge amounts of money in a situation where there is a clear limit to the bitcoin supply.” Looked out. Citibank also predicted that this year, Bitcoin could rise to $318,000.
Institutional investors have also started buying bitcoins in bulk since last year. Massmutual, a large insurance company, bought $100 million worth of Bitcoin. Investment company Grayscale Investments bought more than 70,000 bitcoins last month alone, and famous billionaire investors such as Paul Tudor Jones and Stanley Drunk Miller joined the purchase. S&P Dow Jones, a financial information company, is planning to introduce a cryptocurrency index within this year. PayPal, an online payment company, announced in October that it would allow the trading of bitcoins on its platform.
Van Eck Associates, an asset management company in New York, announced on the 31st of last month that it is re-initiating the establishment of an ETF that is linked to the price of bitcoin. The company submitted a document to the Securities and Exchange Commission (SEC) requesting approval of the new product of the Bitcoin ETF. With SEC approval, the first Bitcoin ETF will be born.
However, “Dr. Doom” Professor Nouriel Rubini of New York University warned on the 3rd that “Bitcoin is not a currency and is not a stable means of storing value.”
New York = Correspondent Jaegil Cho/Reporter Jongseo Park [email protected]
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