市场见解

Bitcoin hits record high: Why Saxo says the cryptocurrency is here to stay

Bitcoin (CRYPTO: BTC) just hit another record high, topping US$50,000 for the first time. And Saxo’s Eleanor Creagh says it’s here to stay.
The post Bitcoin hits record high: Why Saxo says the cryptocurrency is here to stay appeared first on The Motley Fool Australia. –

A rocket with a bitcoin symbol take off, indicating a surging or record high price in the cryptocurrency

Bitcoin (CRYPTO: BTC) just hit another new record high. And as we humans like to put more weight on nice base-10 numbers (thanks fingers), this is a big one.

The world’s largest cryptocurrency topped US$50,000 in the last 24 hours, peaking at US$50,580. It’s since retraced a bit, to the current price of US$49,500. That’s up some 70% in 2021 alone.

Isn’t Bitcoin just a fad?

For many investors, cryptocurrencies like Bitcoin appear to be little more than a fad. One that will eventually fade away, leaving holders of the digital tokens empty-handed.

But the recent adoption by larger institutions – including the US$1.5 billion investment by Elon Musk’s Tesla Inc (NASDAQ: TSLA) – is shaking the naysayers’ resolve.

According to Eleanor Creagh, Australian market strategist at Saxo Capital Markets, fading trust in institutions is driving the renewed appetite for Bitcoin:

Bitcoin was birthed in the aftermath of the GFC as a currency free from the corruption of central banks and governments, so it’s unsurprising to see renewed interest during a period when central banks’ unconventional monetary policies are highlighting many of the issues Bitcoin sought to solve.

Creagh says mainstream investors are increasingly accepting the current economic and financial models are flawed.

Much as in the wake of the 2008 financial crisis, we are seeing intervention and unconventional monetary policy acting as dual forces that serve to entrench and aggravate inequality. Once again, inequities within our systems are in full view, with a “K-shaped” recovery increasing the wealth transfer to those already asset rich.

Bitcoin meanwhile is designed to function on a standalone basis. It is uncorrupted by banks and governments and therefore immune to the debasement suffered by fiat currencies.

Born from easy money policies

Creagh points the finger at central bank and government’s turning their backs on orthodoxy themselves, with “unbridled liquidity injections and ever-expanding central bank balance sheets” diminishing mainstream scepticism of cryptocurrencies.

Bitcoin’s capped supply at 21 million and non-inflationary model adds to its appeal as a debasement hedge and store of value within this regime, where governments and central banks have stimulus spigots on full force. In addition, the asset possesses a unique quality of an embedded call option on the future should it become a dominant digital monetary network. 

She says that high-profile investors and large asset managers like Blackrock, Morgan Stanley and Guggenheim have helped drive the Bitcoin price higher and increased the general public’s acceptance of the digital token.

Creagh concludes that “In the long term, institutional and commercial support will further validate the cryptocurrency, increasing its popularity as a store of value and paving the path toward mass adoption.”

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Bitcoin hits record high: Why Saxo says the cryptocurrency is here to stay appeared first on The Motley Fool Australia.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!