The mainstream press had shown little interest in the new Bitcoin bull run (BTC), which has come close to its all-time high in recent days. But is that changing? The Wall Street Journal has indeed distinguished itself by posting the cryptocurrency on its front page yesterday.
Bitcoin (BTC) front page of the Wall Street Journal
The Wall Street Journal is one of the world’s benchmarks in terms of financial market analysis, but until then, it had not turned its gaze to Bitcoin. However, the Traders‘ Bible has changed course: yesterday it published a chart of the price of BTC , with an analysis of the reasons that propelled the cryptocurrency to its historic high:
The Wall Street Journal said that the Bitcoin has taken over 50% nothing that over the last month : a little performance equaled the world of traditional finance.
The institutions behind this breakthrough?
As for the reasons for this craze, the publication indicates that the arrival of heavy investors may have allowed BTC to explode. Renowned investors Paul Tudor Jones and Stanley Druckenmiller have both expressed their enthusiasm for cryptocurrency. The latter had even explained:
“Frankly, if the gold bet works, Bitcoin will perform even better because [its market] is smaller and it’s less liquid. “
The funds entrusted to Grayscale , an asset manager for institutional investors, also show this change. A few days ago, we learned that Grayscale now managed 500,000 bitcoins … or $ 8.4 billion, or 2.4% of the supply in circulation. The arrival of Bitcoin on the pages of the Wall Street Journal could therefore create a new wave of investments.