Argo Blockchain, a crypto mining service provider, recently recorded huge gains with Bitcoin price reaching new highs. In the first week of trading in 2021, the firm recorded an increase of 218% and reached 107p. This is showing how much the firm has gained from this recent Bitcoin surge. During this time, in the previous year, the Bitcoin price was at $5,355 and now it has increased to $41,000, which is showing a historic increase. 

Argo Blockchain’s Success Reflects Bitcoin’s New Highs

According to analysts, this huge surge that Argo Blockchain has experienced in 2021, is completely reflecting the success of Bitcoin. The new highs that Bitcoin has now reached are highly impressive. The reason behind this surge is the huge demand driven by institutional investors. Along with this, it has been seen that some prominent payments giants have also been showing huge interest in Bitcoin and providing options to make payments using Bitcoin.

MicroStrategy, Grayscale, Galaxy Digital are the prominent firms that have made some huge investments in Bitcoin lately. This is showing the increasing confidence of institutional investors in Bitcoin as they are not even worried about its volatility. 

Bitcoin’s Long Term Outlook Remains Bullish

As the Bitcoin price is increasing impressively, analysts are continuously predicting future trends. At present, Bitcoin is trading above $40K and the price has doubled within one month. Most of the analysts are highly bullish about Bitcoin price. Some have claimed that in the long-term outlook, Bitcoin is highly bullish, however, this is not the case for the short-term. In the short-term, there are claims that Bitcoin might make some corrections that will cause its price to decline. It is not only Argo Blockchain that has gained such huge profits due to the Bitcoin surge as Online Blockchain and Mode Global has also recorded gains after this impressive price surge.