Well, the more others says that bitcoin is no longer a currency it became more a legal currency online and also became popular too. Look a the price value of bitcoin at the present time now it is almost 1700$ each bitcoin. The demand was getting higher more and more and many businesses too are also adopting the concept of bitcoin.
Bitcoin is more than a currency, bitcoin has risen to an asset for one's investment, because many people get big profits from current price spike. Demand for bitcoin is increasing, giving extra benefits to bitcoin owners who hold it.
This has a lot more to do with hedge funds who have gotten into Bitcoin than individual users. Institutional managers have far more ability to affect the price than regular folks, and over the past few years
there have been numerous private funds that have been started to buy and hold Bitcoin on behalf of wealthy investorsDo you know any of these?
Apart from the Winklevii twins (who might in fact be managing someone else's money, not only their own), I have never heard of investment (hedge) funds involved or even interested in Bitcoin. It is obvious that they cannot officially (legally) invest the money of their clients in Bitcoin (at least, not in the US as it seems to be the case after the rejection of the Bitcoin ETF by the SEC) but, on the other hand, if they are doing that via some gray schemes, how do you in fact know that there are "numerous private funds" trying their hand at managing Bitcoin assets?
Here's my take. I
believed that there are entities behind bitcoin, it could be private entities or other hedge fund managers that are buying bitcoin is behalf of wealthy investors. The reason we don't know it that because they tend to work behind and don't want to exposed their wealthy clients. I've been speculating on this since there is a uncovering of market price manipulation by the Chinese. So its more likely that there is also entity or entities getting bitcoins through hedge funds managers or other means that we still don't know, so that they can control the price of bitcoin. This is only my opinion, but I don't have the facts so far to back it up.
That's deep. But without the facts to back it up we cannot do something to make others believe.
Me though, also in deep thoughts had the same speculation.
This people are just the faces of those who are really behind those companies.
Still we only have the speculation but I believe you.