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Bitcoin price LIVE – Shares fall after record high, plus Tesla considers limits on Elon Musk cryptocurrency investments

Bitcoin price LIVE – Shares fall after record high, plus Tesla considers limits on Elon Musk cryptocurrency investments

INVESTORS BETTING BITCOIN COULD REACH $100,000 IN ONE YEARBITCOIN investors, which include top hedge funds and money managers, are betting the virtual

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INVESTORS BETTING BITCOIN COULD REACH $100,000 IN ONE YEAR

BITCOIN investors, which include top hedge funds and money managers, are betting the virtual currency could more than quintuple to as high as $100,000 in a year.

It’s a wager that has drawn eye-rolls from skeptics who believe the volatile cryptocurrency is a speculative asset rather than a store of value like gold, reports Reuters.

Bitcoin is now within sight of its all-time peak of just under $20,000 hit in December 2017. It debuted in 2011 at zero and was last trading at $18,415.

oing from $18,000 to $100,000 in one year is not a stretch, Brian Estes, chief investment officer at hedge fund Off the Chain Capital, said.

“I have seen bitcoin go up 10X, 20X, 30X in a year. So going up 5X is not a big deal.”

This post first appeared on thesun.co.uk

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