Saima Ikram
Bitcoin did hit $10,000 early on Friday before dropping to 9,903.23 at the time of writing this article. The cryptocurrency is all set to jump across $10k mark again today and could actually go way beyond that if the current trend continues.
A price hike that has been continuous since April 4 is depicting a lot of promise for the Cryptocurrency fate that was almost down and out and written off by many financial pundits including Warren Buffett couple of years back.
The bears stepped in to correct the price after a heavy bullish Thursday as the price jumped to $10,000 from a starting price of $9.158.30.
According to Bloomberg, Billionaire investor Paul Tudor Jones is buying Bitcoin. The hedge fund manager believes bitcoin will serve as a hedge against a jump in inflation that is already on cards and coming due to central banks printing money, expanding their balance sheets amid COVID-19 pandemic to pay people stimulus cheques as they are locked down and losing jobs.
Kiyosaki, the author of a famous book rich dad poor dad is a financial education advocate and has recently tweeted about the dollar issue, urging people to buy bitcoin.
WHY DO PEOPLE BECOME POOR? One reason in DEFINITION of $. REAL $ is 1. UNIT of Account; 2. MEDIUM of Exchange; 3. STORE of Value. FAKE $ DO NOT STORE VALUE. Own gold, silver, Bitcoin, which 1. store value, 2, are units of account & 3. exchangeable. SAVERS of FAKE $ ARE LOSERS.
— therealkiyosaki (@theRealKiyosaki) 4 May 2020
Tim Draper, a Bitcoin evangelist believes, Bitcoin may touch $250,000 by 2020. Again, the massive printing of the U.S dollar amid the Coronavirus stimulus package is one main reason for every financial pundit’s prediction.
