Bitcoin (BTC), the oldest and most valued cryptocurrency, has breached the $30,000 mark for the first time since June last year

Here are some factors that might be driving BTC’s bull run

Rising inflation

Investors become concerned about the potential loss of value in their assets during inflation prompting them to seek alternative investment options

Increasing Adoption

Many large companies are embracing cryptocurrency. Recelty, PayPal allowed its vast user base to buy, sell, hold, and accept Bitcoin

PayPal's move is a significant step towards mainstream adoption of cryptocurrencies

This trend is expected to continue, as more companies seek to leverage of digital currencies, like as lower transaction costs and increased security

Scarcity

Bitcoin's limited supply may also be one of the factors driving its rising value in the market

Unlike traditional currencies, Bitcoin has a hard-coded limit of 21 million coins that can ever be created

Note For Investors: It is highly advisable to conduct thorough research before committing funds to any asset to safeguard your hard-earned money