In a Reuters article titled “Bitcoin hits record above $72,000 as demand frenzy intensifies” by Hannah Lang, Amanda Cooper, and Harry Robertson, they discuss Bitcoin reaching its highest price ever, $72,000. People are becoming increasingly excited about Bitcoin because more money is flowing into it, and they hope the government might lower interest rates. There’s an event in April called the “halving,” which could make Bitcoin even rarer, thus potentially increasing its value further. In the UK, the government has allowed some new ways to trade digital money, but only for professional investors, warning that regular people could get hurt. Big money managers are now betting more on Bitcoin than ever before. Other digital currencies like Ethereum are also experiencing increases in value. Big investors are feeling very positive about Bitcoin, which is impacting the stock prices of companies like Coinbase, as well as others like Riot Platforms and Marathon Digital, which are experiencing fluctuations.

To be honest, I had not heard anything about cryptocurrency in the past two years. Supposedly, this market was on the verge of collapse because Bitcoin dropped from around $60,000 to $20,000, but apparently not. When I saw this article, I was surprised as I was not expecting the price to be that high. My takeaway is that I regret not purchasing even a fraction of a Bitcoin; I mean, my money would be worth three times as much. I think its value will continue to rise until demand reaches a peak, causing it to drop again, but overall, I believe the price will fluctuate between $60,000 and $80,000. However, at some point in the next few years, it could be worth hundreds of thousands of dollars.

This could potentially lead to Bitcoin replacing the US dollar as the international currency or financial asset, as it is not managed by a bank or a country, which could also generate distrust due to lack of regulation. However, I’m not sure how many people currently use it as currency, but I know that El Salvador has adopted it as an official currency and financial asset, allowing its population to use it for transactions alongside the US dollar. This demonstrates that it’s only a matter of time before people recognize it as a legitimate currency and give it more attention, potentially transforming it into something truly significant.