Bitcoin in 2021 is transitioning from a speculative risk asset to a global digital store-of-value, in a world going that way. The first-born crypto launched the block-chain and digitalization of the money revolution, which is enhancing the dominance of the global reserve currency – the U.S. dollar – via stable coins. Bitcoin is a complement to the greenback, but it is also in the process of replacing the old-guard reserve asset: gold.
Funds are flowing to the benchmark crypto from gold, bonds, and stocks, as evidenced by Tesla, which has allocated some of its wealth toward Bitcoin. Is this diversification going to continue to spread in this price-discovery stage for Bitcoin? Join Bloomberg for Education to learn about the Bloomberg tools that allow you to monitor the latest trends in cryptocurrencies. Then use this data to extract insight and make your own predictions about their future.