Cryptocurrency
Bitcoin Has Hit An ‘Inflection Point,’ Predicts Major Twilio, Pinterest, LinkedIn, And Twitch Investor, Bessemer Ventures
Bitcoin Has Hit An ‘Inflection Point,’ Predicts Major Twilio, Pinterest, LinkedIn, And Twitch Investor, Bessemer Ventures: As reported by Forbes, “Bitcoin has been pushed into the limelight in recent weeks by a number of high-profile companies investing in the cryptocurrency. The bitcoin price has soared through 2020, climbing over 60% since January, however, the flood of […]
Bitcoin Has Hit An ‘Inflection Point,’ Predicts Major Twilio, Pinterest, LinkedIn, And Twitch Investor, Bessemer Ventures:
As reported by Forbes, “Bitcoin has been pushed into the limelight in recent weeks by a number of high-profile companies investing in the cryptocurrency.
The bitcoin price has soared through 2020, climbing over 60% since January, however, the flood of recent groundbreaking announcements has failed to give bitcoin much of a boost.
Now, Bessemer Ventures, which counts cloud communications platform Twilio TWLO -0.3%, image board Pinterest, professional network LinkedIn, and streaming site Twitch among its previous investments, has said it “strongly” believes bitcoin will become “a globally accepted asset class”—and predicted institutional demand for bitcoin “has hit an inflection point.”
“We strongly believe bitcoin will become a globally accepted asset class that institutions will increasingly seek portfolio exposure to given its asymmetric risk profile, scarcity characteristics, and ability to serve as a digital store of value,” Bessemer Ventures wrote in a blog post outlining its “thesis across the crypto landscape.”
“With the rapid expansion of central bank balance sheets around the globe, bitcoin is poised to serve as ‘digital gold’ and a hedge against future inflation,” the post, authored by four Bessemer partners, investors and advisors, read…”