> This year witnessed a massive rise in the price of the digital currency Bitcoin as it rose 90%, and was traded Up to $ 13,848 on Tuesday, the highest level since January 2018, after falling from its historic high of $ 19,783 in the previous month, according to CoinDesk.
and many investors agree that the renewed rise in interest is linked to Bitcoin's potential as a hedge against Inflation, according to Al Arabiya, Bitcoin advocates have touted this possibility for years, mainly because the Bitcoin network has a finite number of units that can be created (21 million units).
With the spread of the Corona epidemic in economies around the world, governments and central banks have been forced To spend trillions of dollars to support their economies while depleting the purchasing power of their currencies. This has revived the fear of rising inflation in the coming years, the shift to invest in Bitcoin as a hedge tool.
According to a report in the Wall Street Journal, Square Inc, which allows Users purchase bitcoin on its cash app, $ 50 million worth of digital currency in October to use as a hedge tool in the company's treasury.
and was preceded by Virginia-based MicroStrategy Inc earlier this year. The year, when it bought about $ 425 million Bitcoin to keep in the treasury of its companies. Chief Executive Michael Saylor said in August that the company expects the government's responses to the epidemic to have an impact on the devaluation of fiat currencies.
and since the bubble in 2017, attracting new investors has been a long-sought goal of the industry. Crypto, as the Bitcoin industry tries to build an infrastructure for professional investors, creating everything from ETFs, to options markets and custodians.
although the US SEC has not yet approved funds ETF for Bitcoin, but other services are in place, and investors are starting to adopt it.
It is worth noting that, labor market ...
