Commenting on the news that Bitcoin has surpassed the USD20,000 mark for the first time, Ayush Ansal, CEO of the hedge fund, Crimson Black Capital, said:
“After being in a wasteland since the infamous bull run of late 2017, crypto, and Bitcoin in particular, are back.
“Bitcoin has been threatening the symbolic $20,000 barrier for some time and finally it has broken through.
“Public interest in cryptocurrencies will be reignited over the Christmas period, as people start to believe in Bitcoin all over again.
“The Covid-19 pandemic has almost certainly contributed to the rebound in Bitcoin. It has changed the order of things and that resonates with many investors right now.
“The resurgence of Bitcoin will once again have Central Banks on red alert.
“If they become truly mainstream, Bitcoin and other cryptocurrencies represent an existential threat to the entire banking system."
