Bitcoin Demand Undeterred Despite High Volatility

Bitcoin Demand Undeterred Despite High Volatility
May 25
17:28 2021

The recent market crash seems to have made little to no impact on the popularity and demand for the leading cryptocurrency. As the market shows signs of recovery, it is likely that retail investors may also join forces to pump the demand.

The latest big investment in Bitcoins is reported to have come from Ark Investment. The company confirmed an investment of $20 million in Bitcoins. According to their latest filing with the SEC (US Securities and Exchange Commission), Ark Investment purchased $20 million worth of Bitcoins.

Cathy Wood, who is the woman behind the investment company, is not new to investing in cryptocurrencies. She has also been a big proponent of altcoins. Earlier, she also switched the company’s investments in Tesla and added Coinbase shares to their portfolio.

In her statement to the press, following the filing with the SEC, Wood also said that the recent episode – which many termed as a crash – will have little to no impact on the popularity and future of Bitcoins. She is hopeful that Bitcoin is still positioned to hit the $100k mark by the end of 2021. Her long-term project for BTC is $500,000.

Last week, Bitcoins dropped dramatically along with other major tokens like Ethereum, Cardano, Dogecoins to name a few. However, the figures this week look strong so far and the major tokens are already recovering.

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George Kim

George Kim

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