Bitcoin is compared to historical Amsterdam tulip bubble, global bubble attracts investors

From Investing.com

November 25, 2024 01:20:45 PM:

Bitcoin’s value surge is compared to the historic Amsterdam tulip bubble, being a global bubble traded 24×7 worldwide. Limited supply of 21 million coins, only 1.1M left to mine, attracts investors. Bitcoin surged sevenfold since 2023, 10-fold since 2020, 100-fold since 2017, outperforming gold’s 20x rise in the 1970s.

High-profile endorsements like Trump’s backing fuel Bitcoin’s rally. MicroStrategy’s hoarding of 331,000 Bitcoins through stock and debt offerings boosts Bitcoin and stock prices. Concerns arise about sustainability if Bitcoin price stabilizes or falls. Analyst predicts Bitcoin’s price will continue soaring “to the Moon, to Mars, and to infinity and beyond.”

Read more at Investing.com: Analyst calls Bitcoin ‘global bubble’, could soar to infinity By Investing.com