Foreign media: Bitcoin may exceed $1 trillion by the end of the year, surpassing McDonald's

DoNews November 22 news (reporter Zhai Jieru) According to Bloomberg, legendary fund manager Mike Novogratz said Bitcoin will close at US$10,000 by the end of this year, and Ethereum will close at around US$500.

Since last week, Bitcoin has experienced a roller coaster-like rise. On the 12th, Bitcoin once fell to around US$5,500. Since then, the rebound has reached 50% at one point, and the price has once exceeded US$8,300.

Ronnie Moas, founder of Standpoint Research, also said in a report that Bitcoin prices could rise further. "There have been a lot of positive developments in the past five months, and several obstacles on Bitcoin's path have been removed."

Some analysts said that the reason for this round of increase is that the US payment company Square has announced that it will allow certain customers to buy and sell Bitcoin in its Cash App application. This shows that Bitcoin is being recognized as a legal investment.

Of course, there have been constant voices of doubt about Bitcoin in China and abroad over the past year. Lloyd Blankfein, CEO of Goldman Sachs Group, once said that he was neutral about Bitcoin. "We are still considering the issue of Bitcoin, and there is no conclusion yet - neither support nor deny. We know that before paper money replaced gold, people also had doubts."

JPMorgan Chase CEO Jamie Dimon was even more clear, calling Bitcoin a "scam" and hoping that company employees would not get involved in it.

Despite the turmoil, Bitcoin has risen by nearly 700% this year. According to data from the BitcoinPrice trading platform, the current market value of Bitcoin has exceeded 166.9 billion US dollars, exceeding McDonald's market value of 13.3 billion US dollars. (End)