Bitcoin Gets Backed by Wall Street Billionaires

After an 80% rise in two months, bitcoin has once again attracted media attention – in an issue from23November The Wall Street Journalon the first pageThe spread of cryptocurrency among institutional investors is discussed.

In particular, it is noted that recently Bitcoin foundsupport from "Wall Street billionaires" Paul Tudor Jones and Stanley Druckenmiller, as well as from prominent public figures, including the sports radio host.

#Bitcoin front page of the Wall Street Journal? pic.twitter.com/wD7TUuMcTp

- WebbDesignz (@DesignzWebb) November 23, 2020

In addition to significant investments from managershedge funds and Grayscale Investments, in the publication, highlighted the growing demand from retail investors who can now access cryptoassets through familiar financial companies.

It is also noted that the volume of bitcoins in the Square Cash appin the third quarter of 2020 were $ 1.6 billion compared to $ 555 million for all of 2019... Trading activity on the American exchange ItBit similarly increased after it became known that PayPal had included crypto services in its services.

Then PayPal CEO Dan Shulman,speaking on CNBC, predicted that the growing daily use of bitcoin will lead to the fact that crypto assets "will not only be an asset class, but also transform into currency":

"As paper money disappears as people use electronic payments, central banks, especially in retail, will have toreplace them with a digital form of fiat currency."

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