According to Bloqport’s latest data, bitcoin, which ended the month of March with an overall gain of 29%, has now been in the green for six consecutive months. The data also shows that the crypto asset’s value has nearly doubled from its December 2020 closing price of $29,383 to its current value of $58,647. With this run, bitcoin has already outperformed many other assets including gold.
An Institution-Fueled Bull Run
As shown by the research and analytics firm’s data, BTC’s current run began at the start of Q4 of 2020, a period that coincides with increased reports of institutional investors acquiring the crypto asset. As reported by Bitcoin.com News, Microstrategy and Square Inc had kickstarted a new wave of large corporations and hedge funds buying into the crypto asset. For instance, on October 7, 2020, Square Inc announced it had converted 1% of cash reserves (or $50 million at the time) into BTC. Since then, more corporations including Elon Musk’s Tesla have revealed
Źródło: https://news.bitcoin.com/new-data-shows-bitcoin-captured-net-gains-for-six-consecutive-months/
