PETER HAMMOND

PETER HAMMOND

How significant is it that bitcoins price surpassed $30k today?  

BAM

Many factors come into play as we analyze the significance of Bitcoin surpassing $30,000. 

The following is our opinion and observation. There is no clear or single answer to why the price/demand is increasing. 

Bitcoin is up over 70% since January 1, 2023, making it the best-performing asset of 2023.

After a tumultuous 2022 that saw crypto scams, fraud, Ponzi’s, and grifters all fail spectacularly, there was concern about the recovery of bitcoin’s price.

Bam believes this was good for Bitcoin. There is a distinction between Bitcoin and crypto. Bitcoin and crypto are not the same. The innovation is Bitcoin. But this is another topic altogether. 

Bam believes that Bitcoin is an idea whose time has come. In light of great economic turmoil, government regulatory scrutiny, and recent bank failures, the recent rise in Bitcoins price may be a turning point in its value proposition and its role as an antidote to fiscal insanity. 

Bam believes that Bitcoin is a safe haven asset beyond the ability of bankers, politicians, and fraudsters to stop. Are people catching on? Are we about to enter the next Bitcoin bull run? We may be seeing this recovery as the continuation of the inevitable rise of Bitcoin as a solution to the financial house of cards of the current system. 

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