Bitcoin is flying high, making many investors overnight millionaires-investors who poured money into the digital currency when it was trading at a tiny fraction of its current price. And it will make more millionaires, as it could reach for new highs before coming back down to earth.
There are a few good reasons for Bitcoin to do so. First of all there,s the ultra-low interest rate environment, which makes the Bitcoin "carry trade," an appealing proposition.
Makes Bitcoin a better hedge against global uncertainties than conventional hedges like gold. At least for the millennial generation, this understands the digital currency better than the baby-boomer generation.
Unlike gold, for instance, Bitcoin is a convenient medium of payment around the globe.
"Bitcoin fly high globally"
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