Even with a big selloff Thursday, Bitcoin’s rebound toward all-time highs this week is no sign of a speculative bubble but the growth spurt of a major asset class in the making, say crypto diehards.
Just look at market technicals and Wall Street’s growing embrace of the world’s biggest digital currency.
And while the trading doesn’t always run smoothly, the $315 billion digital coin is far deeper and more liquid than it was during last boom in 2017.
“Bitcoin has the potential to become for our global monetary economy what the Internet has been for our global society,” said Tancredi Cordero, founder of Kuros Associates in London. “The main concern and turning point for Bitcoin are trust, adoption and regulation.”