In the first week of December, the bitcoin Santa rally seemed like a distant possibility for investors struggling to regain a bull-market perspective after three years of depressive price-action.But over the weekend, bitcoin showed the world that a new way of thinking is emerging \u2014 pioneered by none other than the grass-roots believers who made it all possible.Let\u2019s dig in.Hours after tearing through $27,000 for the first time ever, bitcoin surged past $28,000 on Sunday morning as the pioneer crypto continued its market domination to surpass $500 billion in total market capitalisation.This month, bitcoin has left a string of broken records in its wake after passing the psychological $20,000 landmark for the first time on December 16th.Gripped by unrelenting bullish fervour, a religiously devoted grassroots following, and near-zero tolerance for legacy financial shenanigans, bitcoin holders have now glimpsed the peripheries of what ideas can achieve.The initial stages are arguably the hardest as bitcoin struggled for recognition \u2014 but those days are now gone as bitcoin has achieved the status of a macro institutional asset, and a cheap one at that.Indeed, you\u2019d be hard-pressed to find any macro-asset class that isn\u2019t valued in the trillions, and yet bitcoin\u2019s market cap is still only half a trillion dollars.In light of this backdrop, institutional investors continue to drive the Santa rally. Anthony Scaramucci\u2019s Skybridge Capita, MassMutual, and Guggenheim\u2019s $5 billion macro funds are the latest institutional-grade investors to join their peers who entered the market earlier in 2020.Scaramucci believes that bitcoin is in the \u201cearly innings\u201d of a bitcoin boom, the scale of which isn\u2019t fully appreciated today. This weekend, early bitcoin evangelist Tim Draper \u2014 who bought millions of bitcoin at $800 said that he expected bitcoin\u2019s price to increase ten-fold by the end of 2022 from here.With the year-end just around\u2026<\/p>","protected":false},"excerpt":{"rendered":"
In the first week of December, the bitcoin Santa rally seemed like a distant possibility for investors struggling to regain a bull-market perspective after three years [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts\/3085"}],"collection":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/comments?post=3085"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts\/3085\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/media?parent=3085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/categories?post=3085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/tags?post=3085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}