If we were to give 2020 a headline, We would include awareness and discovery. Covid-19, which emerged in China, rapidly penetrated our lives and reversed our habits. In this period, people faced every situation they would not have preferred and discovered different lives and behaviors outside of their usual circle.
We have experienced the most significant change in “money”, which is the focal point of our lives. The way money is spent, how it is used, the value pattern and the meaning have evolved into a different line. With almost no paper money used anymore, the definition of ‘money’ has lost its physical sense due to the hygienic conditions that have tightened after the pandemic.
This “awareness” brought us discoveries of the new investment world. While countries are entering the digitalization path in both money and payment systems, many people on the traditional investment side have met with crypto money. Curfews and working from home have been a good opportunity for people to explore unknown areas.
As a result of the US government’s support package within the framework of a joint plan with the Fed, the elderly population, who received the $ 1,200 aid checks distributed to the households, bought gold by following the traditional method. The young and middle-aged population turned to Bitcoin was a beautiful and remarkable news headline. Thanks to the recognition of Bitcoin coinciding with the halving period (halving the reward earned per block periodically in crypto money mining), the cryptocurrency world met a new and large group of investors to introduce itself.
Moreover, with the lack of age restrictions and the young population’s high interest, there was a change in the investor group.
With this wind of change, investors are much more hungry for the fruits of the new world they are discovering. Returning from its summit in December 2017, the return of Bitcoin to $ 20,000 and the vital ‘corporate’ demand behind it healed the wounds of crypto money in terms of both price and credibility; it even went beyond that, making Bitcoin and cryptocurrencies, in general, a “prestigious” investment tool.
With a maximum supply of 21 million, we think that Bitcoin will often come to the fore with supply shortages in 2021, and this fiction will shape the basic story. The doubling demand of institutions, the increasing interest of individual investors, mean the rapid expansion of the market.
The year 2020 was challenging for health, but it taught us a lot. In the meantime, our market experiences made the possibilities of this new world more visible. A new investor group looks more favorably on the cryptocurrency industry.
The market, where individuals and institutions rapidly increased their investments, grew with a record price and investment amount in 2020. MicroStrategy, the largest publicly-traded independent business intelligence company that stands out in corporate purchases announced that its Bitcoin purchases in 2020 were worth $ 1.1 billion, corresponding to 0.33% of the total Bitcoin supply. Company CEO Michael J. Saylor summarizes the “changing and innovative” investment perception while explaining his perspectives on Bitcoin: “We believe that Bitcoin, the world’s most widely adopted cryptocurrency, is a reliable store of value. We believe that our balance sheet’s proactive management, combined with the company’s increased revenue and profitability performance, are essential factors in the recent appreciation of our stock price. Bitcoin, the most widely accepted cryptocurrency in the world, is a reliable store of value and an attractive investment asset that can gain importance in the longer term than holding cash. Since its inception, Bitcoin has emerged as an essential contribution to the global financial system, with features beneficial for individuals and institutions. MicroStrategy recognized Bitcoin as a legitimate investment asset that could be superior to cash and made it the main asset in its treasury reserve strategy. “
Cruise operator Carnival discloses personal data breach, shares down
(Reuters) -Cruise operator Carnival Corp said on Thursday it had detected unauthorized access to its computer...
China National Petroleum
The past year brought plenty of adversity for China National Petroleum Corp (CNPC), the state-owned parent company of the country’s second-largest oil...
McDonalds Reopening Plans Face Reluctance From Some Franchisees
McDonald’s Corp. is planning for fully reopened dining rooms in the U.S. this summer, though it’s running...
China crypto players shrug off Beijing's latest crackdown
China's announcement on Tuesday of a tougher ban on banks and payment companies offering crypto-related services furthered...