Decrypt has recently reported that crypto has reached 1.6 trillion in market capitalization with much of that value reflecting Bitcoin\u2019s impressive run which brought it above the $52,000 mark this week.Bitcoin\u2019s recent performance has the attention of even the no-coiner investors \u2014 including private investing firm Motley Fool which just purchased $5 million in Bitcoin, just months after saying they would never invest in crypto. Another new entrant into the Bitcoin market is BlackRock, the largest asset manager in the world.The reasoning is new investors are seeking a reliable safe-haven asset. Holding value is one function of a currency, though perhaps not the primary intended use of BTC according to its white paper.It seems that Bitcoin\u2019s gain is gold\u2019s loss. Gold has been falling since July 2020, while Bitcoin has steadily risen, creating an all-time low in the gold-to-bitcoin ratio.Bitcoin is unproven and lacks the long-term track record to support its usefulness as a safe haven asset. Gold has a 10,000-year history as a store of wealth, yet investors may be abandoning gold and climbing on board BTC based on the incredible run it has had since the end of 2020.Elon Musk has recently reclaimed the top spot on the Bloomberg Billionaires Index with a net worth of $199.99 billion.Musk has moved BTC prices noticeably this year \u2014 causing a bump in prices when he added BTC to his Twitter profile and another increase when Tesla invested $1.5 billion in Bitcoin. Yet he claims he is not an investor and doesn\u2019t own any publicly traded stock beyond Tesla. One wonders where he stores his wealth. His tweet would suggest he isn\u2019t keeping it in USD or any other fiat.Perhaps his coy tone is meant to downplay any suggestion that he is impacting markets with public statements that directly impact the\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Decrypt has recently reported that crypto has reached 1.6 trillion in market capitalization with much of that value reflecting Bitcoin\u2019s impressive run which brought it above [\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\/3688"}],"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=3688"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts\/3688\/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=3688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/categories?post=3688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/tags?post=3688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}