Bitcoin started the year at $7,200. It’s ending the year close to $30,000, up 296%. (For comparison, the Nasdaq is up 43% in 2020, the S&P 500 up 16%, the Dow up 7%.)
The 2020 bitcoin bonanza can be chalked up to a convergence of many positive factors, as well as a convergence of narratives.
In the past,…