Bitcoin has ‘reached’ its peak again with a continuously increasing value, which makes countries not only invest in gold but also pour capital into this virtual currency.
Gareth Soloway, Chief Market Strategist at VerifiedInvesting.com, noted that central banks are actively buying gold at a near-record pace, constantly pushing up the price of the metal.
Since the beginning of 2024, bitcoin has continuously peaked, increasing nearly 70%, making this virtual currency more valuable than ever.
Bitcoin price increased 1.39% as of March 14. Photo: Coin Desk
The founder of Cardone Digital Ventures believes that bitcoin is increasingly becoming an important asset diversifier for countries. He suggested that central banks may have secretly purchased bitcoin as a reserve asset.
“This year, we may see announcements from countries that not only add bitcoin to their balance sheets but also continue to buy them like gold. They are analyzing price charts, futures similar to the charts I’ve seen… This could be a game changer,” Cadone said. He also emphasized that there is a high possibility that Türkiye will be among the countries investing in bitcoin.
Bitcoin’s recovery leads El Salvador to venture into cryptocurrency. After officially accepting bitcoin, the country earned $85 million. According to Nayib Bukele’s tracking page, the price peaked at $72,000 on March 11 and will continue to rise even higher.
El Salvador President Nayib Bukele joked on social network X that he was still waiting for the mainstream press to recognize the profits his country made from bitcoin. The country holds 2,381 bitcoins with an average price of $44,292.
According to Cadone, the reason gold and bitcoin both set records last week is because investors are in a fake market, based on monopoly tricks.
This expert believes that war means more money is printed. “We are at war. It’s happening in at least 4 countries that I know of. This is a Ponzi scheme. We’re just moving on the chessboard. That’s why gold, silver and bitcoin are increasing in price.”