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Great future or just a bubble?

Unconditional! Call some. The price will soon rise to $ 500,000. Just don’t! Call the others. That is a worthless fantasy. The fact is: the price has recently increased significantly. Bitcoin currently costs a good $ 18,000. An increase of 40 percent in one month and 150 percent since spring. The payment service PayPal has given the matter new impetus. In America, PayPal customers can now buy, sell and manage Bitcoin via the platform. This is a huge step out of the niche into the mass market.

And at the beginning of 2021, customers in America should also be able to pay with Bitcoin merchants on PayPal. This is a big step towards a wider practical usability of the digital currency. But it remains tight. There are currently 18.5 million Bitcoin in the world, and the complicated programming processes mean that there are only a few tens of thousands more Bitcoin per month. 18.5 million pieces times the current price of a good 18,000 dollars results in a value of all Bitcoin of around 340 billion dollars. This is nothing compared to the money supply in real currencies such as dollars and euros.

The scarcity could actually cause the price to rise if there is a greater need for use, especially since larger investment banks have found that Bitcoin is now more popular with younger customers than gold for storing value. More and more people with a digital affinity are also appreciating the practical benefits. Buying via CFDs, certificates, funds or directly could therefore be worthwhile and the almost three-year-old record high of a good $ 19,000 could soon be surpassed. Critics object that there are enough functioning currencies, that Bitcoin is not the only digital currency, that it can be replaced at will and that its value is therefore completely overestimated. So there is plenty of room for speculation. Anyone who enjoys it can take part. It has been worth it so far. But please only with money that is not needed otherwise.

Do you have any questions about money? Gladly to our editor Daniel Mohr at fragdenmohr@faz.de

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