Bitcoin rose by another $1,000 since just yesterday, from around $8,000 to a new all-time high of $9,060, with the asset seemingly headed towards that big $10,000.
While its market cap has now risen above $150 billion, higher than that of Bank of America, with trading volumes standing at around $4 billion, led by Bitfinex’s USD (USDT?) pair.
Euphoria seems to have taken hold, with talks of bubbles and tops now reaching fever pitch. For some, none of it feels real. Disbelief is widespread, just as appears to be the expectation that this will all eventually crash.
But will it, and if so, when? There is no Gox anymore, but might Bitfinex act as the new Gox? Without some black swan event, can this actually go on and on or has it reached saturation?
We only have questions unfortunately and very few answers. One of them being that people are flocking. In just one exchange, Coinbase, growth has been vertical:
What will it do with it? Will it run away from this new fame or embrace a new age? Will it betray its roots and become sedated, or will it proudly lay claim to its intellectual base?
Will this asset really change the world and become a usable global currency, or is it all far too early? Is it ready, for anything, including whatever is happening right now? Or has the cart once again been put before the horse?
Has the market rightly chosen, or is the market so ill informed that it now operates as a game of chairs? Do the answers to any of these questions even matter? Should we instead just enjoy the miraculous year?
Because whatever happens from now on, what has already happened is a worldwide recognition of a new invention that promises to continue the digital revolution and upgrade many aspects to movable code.
If there has been too much enthusiasm, few can lay blame, for what else is there to admire so greatly than a new world this space promises.
A world that looks to the future. A world that aims for prosperity, equity. A world that is being re-imagined and in the process allowing us to dream once more.
After two decades of plundering and destruction, it is about time value creation takes the center stage. After two decades of hate and division, it is about time a phenomena rises that unites us all, from east to west, north and south, Arabia, China, Russia, England, Germany and America.
For the drums of war are now replaced with the songs of peace and what better music than the ever rising digital currencies.