With the bitcoin price point on the upswing, investors are negotiating opportunities to take advantage of its momentum. This is exactly the pivot Norwegian investor Kristoffer Hansen made. He sold all his stock shares and bought up bitcoin. This move landed him on Friday’s cover of the national newspaper, Dagens Næringsliv.
The paper said that Hansen has been following cryptocurrencies for several years prior to finally putting everything in. A recent publication read, “IT consultant/advisor Kristoffer Hansen from Trondheim has followed digital currencies for five years, and thinks we’re not near the top.” The article quoted him, saying, “I’ve gone all-in and sold all stocks and put it all into bitcoin.”
These types of investor pivot arcs seem to be taking formidable shape as the price indicators for bitcoin continue to point skyward. The market seems to be signaling for a bullish run, and more people like Hansen may continue going “all in” in order to obtain wealth as a result of the digital gold boom.
Digital Gold Boom: Climate of the Bitcoin Ecosystem
“Digital gold boom” is the most concrete way to portray the current environment. The bitcoin ecosystem appears fattened and invigorated by investor initiatives and individuals looking to adopt and use the currency. However, no one can surmise the true nature of the market course. Nonetheless, interested parties across the globe are starting to eye bitcoin with a near-voracious appetite.
This has all happened in a kind of snowball effect after Japan started accepting bitcoin as a currency within the country. The Moscow Times even ran a beautiful cover piece of bitcoin in a recent edition, indicating their country may head boldly into the direction of crypto adoption. This comes as Russian bankers and heads of State have instigated talks about cryptocurrency use cases and regulations within the country.
Bitcoin.com covered the topic, saying,
Russian bankers released a statement May 26, saying that cryptocurrency should be legalized for circulation. This message comes from German Gref, who is head of the Russian Sberbank. Gref said there needs to be an honest and intelligible conversation about cryptocurrencies, because attempts to ban it have only caused problems in the past.
If countries and businesses and individuals continue to celebrate Bitcoin en masse, it will certainly jar more investors like Hansen into making a similar pivot and embrace the bull ride of the bitcoin boom.
Do you see more investors emptying their portfolios to buy up bitcoin? Share your thoughts below!
Images courtesy of Moscow Times, Reddit, Shutterstock