Bitcoin has seen a crazy surge in 2020 that follows through to the first week of 2021. It moved from around USD$7000 in Jan 2020 to USD$41,000 in early Jan 2021 smashing previous all-time high of USD$20,000. That’s around a 6 X increase in just a year.
One of the reasons why people are buying into Bitcoin in 2020 is that Covid-19 resulted in many government around the world printing money and lowering interest rate to support the economy. This devalues fiat currencies causing many to take flight to save haven assets such as Gold and more recently Bitcoin.
Many believes that Bitcoin is the “Digital Gold” because it shares many similarity with gold such as: they are both limited in supply, costly to mine and also impossible to counterfeit. In fact, many think that Bitcoin is actually way better than gold. Some of the advantages of Bitcoin over