Even If Bitcoin Falls Again, Company Adoption Of Crypto Is Not Going Away – Forbes

Last year at this time, Bitcoin was under $5,000. Now it’s over $50,000, though that is temporary. It can go back to $30,000 in a week as fast as it can go to another all-time-high. Sorry. I hope it didn’t jinx it.

The reason Bitcoin is rising is because institutional investors are getting into Bitcoin as a store of value. Tesla TSLA just bought over a billion dollars worth of Bitcoin. Investment firms who never spoke about crypto to their clients before are doing so now. New products are launching, following in the footsteps of Grayscale’s Bitcoin ETF (GBTC).

Macrolens’ Brian McCarthy wrote this to his clients on Wednesday: “Here is the only logical use-case for Bitcoin I can come up with: there is some significant societal value in having a decentralized, digital store of value. That store of value can be anything so long as everyone agrees that it is that decentralized, digital store of value that the world so badly craves. First-mover advantage dictates that Bitcoin has been thusly anointed.”

That sounds
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