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    On the digital bandwagon

    Feb 24, 2021 6 minutes
    Bitcoin’s price has soared, but buyers who view it as a safe haven or growth investment are in for a volatile ride
    STORY DAVID THORNTON

    After a few years out of the spotlight, Bitcoin is back. Last year, its price skyrocketed more than 600% to $53,114 before coming off the boil by about 20% in the first months of 2021. It’s made many a millionaire, but don’t let that fool you. The jury is still out on whether it will redefine finance or blow over like a house of cards.

    Whereas the inflows in 2017 came mostly from speculators, this time it’s largely driven by overseas institutional investors.

    “[Institutions are] attracted by the good returns that the digital asset class is currently offering but, more importantly, by the huge future potential it offers,” says Nigel Green , CEO of financial advisers deVere Group.

    These institutional players include the business intelligence and software firm MicroStrategy, now the largest corporate

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