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Bitcoin Crushes Doubters as 224% Rally Proves It’s Here to Stay

  • Demand has proven to be impervious to wild price swings
  • Bitcoin supply was pinched off in halving of reward to miners
Bloomberg business news
WATCH: Zac Prince, chief executive officer at BlockFi Inc., discusses how Bitcoin could perform in 2021.(Source: Bloomberg)
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Bitcoin just won’t go away. The original cryptocurrency again had commentators eating their words in 2020 -- yours truly included. It’s now time to accept it’s here to stay.

Like Monty Python’s Black Knight, Bitcoin believers treat near-fatal volatility as mere flesh wounds. Drops of 80% are welcomed as fortuitous buying opportunities. But far from being a weakness, this is evidence of the asset class’ longevity. The cryptocurrency rallied 224% this year, bringing to mind the wild advances of 2017 as it soared to record highs.