Business
What stigma? Why the wealthy are loading up on bitcoin at all-time highs
Remember that stigma about online dating? When ‘meeting someone online’ was viewed very sceptically? Well, that stigma has most certainly gone the way of the dodo. The same could be said of today’s topic of discussion: bitcoin.
Bitcoin and cryptocurrencies exploded into financial pop culture back in 2017, when the value of bitcoin surged in what could only be described in hindsight as a bubble. At the start of the 2016 calendar year, one bitcoin was trading for under US$500. But the same coins were, by the end of the following year, commanding a price of almost US$20,000. Of course, we all know how that ended.
By the same time the following year, bitcoin was back under US$3,500. The bubble popped, end of story. Bitcoin was…
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