At the time of writing, Bitcoin’s value has surged to a staggering $66,000, setting a new precedent for Europe as it has establishing a fresh record in Euro! For the inaugural time in history, a single Bitcoin is valued at an excess of €61,000, a milestone reached just moments ago. With a valuation of $64,885 or more, Bitcoin, provided the Meta stock price remains stable, is now priced higher than the world’s biggest social network. Individuals hodling Bitcoin in most places around the globe is now experiencing an ATH in their respective currencies, however, Bitcoin still needs to add a few “thousand” to achieve an ATH in dollars.
In 2020 a narrative emerged in mainstream news outlets that hodling Bitcoin was a sound inflation hedge. Many sceptics made fun of this idea. Now, years later, that narrative has proven its worth by any means. Bitcoin has surged 54% in just the last month. Tokenized RWAs (Real World Assets) such as rubies and sapphires might be another smart move to hedge against inflation.
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There is a growing curiosity about the reasons behind Bitcoin’s escalating value and the potential peak it could reach. The future trajectory of Bitcoin’s price remains uncertain, but a fortnight ago we encapsulated the pivotal events for Bitcoin in 2024 in the link above, highlighting their exclusively positive implications. During the Christmas season, we also wrote an article on the considerations for purchasing Bitcoin, and since then, Bitcoin has experienced an approximate 50% growth.
An intriguing fact is that Bitcoin has now eclipsed Meta (Facebook) in terms of market capitalization. This implies that Bitcoin’s worth now surpasses that of the entirety of Meta, which boasts over 3 billion users across their platforms. This achievement marks a significant milestone, and it will be fascinating to observe if Bitcoin can outstrip the market value of Silver; according to the ranking company mentioned above, this would necessitate Bitcoin augmenting its market value by approximately 300 billion dollars.
This text is intended to inform and is not an investment recommendation.
Best regards,
Adam Jakobsen.
NBX.
