In case you hadn’t noticed, Bitcoin is flying upwards at the moment in a surge that could now begin to indicate the start of a more wide spread surge, given that as it stands Bitcoin dominance stands at 47.1%.
In the past month alone, Bitcoin has risen from prices > $6,000.00 up to a current figure of $8,153.54. As it stands, Bitcoin is up 6.05% and thus, is not showing any willingness to halt just yet. As it stands, it’s clear that a Bitcoin surge is underway and therefore, we can now start to hope that the rest of the markets will pull up too, as a result of this.
More good news from the bulls is starting to come from a number of experts who believe that this slight run could be the start of a far bigger surge, dare I say it… perhaps even a recovery for Bitcoin.
According to CNBC, Brian Kelly, the CEO and Founder of investment firm BKCM LLC has discussed just how this could indeed be the start of something far greater. Kelly is pointing towards external institutional investment that could be pumping the value of Bitcoin up. Of course, the more investment comes in, the higher the price goes.
Many have said it for a long time, but those with the most money will make a difference when they start to invest. This is what Kelly is suggesting could be happening here.
According to CNBC, Kelly has said:
“I can tell you from the calls that I’m getting, people that looked at Bitcoin in December and didn’t like the price are coming back now and saying, alright, this thing is not going away. We need to understand what it is. Where does this asset class fit in to our portfolio?”
“We’re moving from a database to a databank. What does that mean – the data in the internet is valuable. Web 3.0 is the new internet, an improved internet. How do you send valuable assets across an open network like the internet, with a cryptocurrency. That is exactly why institutions are starting to get into this. They’re seeing how this fits into a portfolio of web 3.0 stocks.”
See the full report for yourself, here.
As institutions start to realise that Bitcoin and other cryptocurrencies are a key part of the new web (3.0), investment will spring onboard. Kelly is hinting that this investment has now begun and that as a result, today’s Bitcoin surge is just a small sample of what’s to come. Of course, he could be wrong but based on Bitcoin’s movements today, it does seem as if something good is going on, somewhere.