Bitcoin's Second Spring Explained

Bitcoin is back! In a surprising surge, Bitcoin rallied from $3500 USD to over $10,000 USD in a just a few weeks. Meet one of the first, large-scale Bitcoin investors: Bart Stephens. The San Francisco-based entrepreneur runs the most prominent global venture capital firm specializing in crypto. In an exclusive interview with Die Weltwoche, he explains the 2019 Bitcoin whirlwind and what it portends.

When Bart Stephens launched his investment firm, Blockchain Capital, $100 USD bought one Bitcoin. That was seven, short years ago. By December 17, 2017, the pioneering new currency hit a dizzying $20,089 USD turning many early investors into instant multimillionaires. Then came the crash — the panic, the sell offs, and the smug “I told you so’s” from the traditional banking world. Through much of last year, Bitcoin traded in a disappointing range of $3000 to $4000 USD. But in just the last few months, Bitcoin has been making a steady comeback igniting renewed interest in its financial and political possibilities.

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