‘Bet on Bitcoin’s inevitability’: Here’s what 5 crypto experts say about its price hitting an all-time high near $20,000 this week

‘Bet on Bitcoin’s inevitability’: Here’s what 5 crypto experts say about its price hitting an all-time high near $20,000 this week

With Bitcoin hitting an all-time high this week, major players are reflecting on how far the space has evolved since the previous record set in December 2017.The bullish case appears to be intact as institutional interest remains elevated for Bitcoin. Five crypto experts weighed in on its rally, explaining why Bitcoin has room to go higher and how the dollar's weakness will fuel it further.Visit Business Insider's homepage for more stories.

Bitcoin, the world's most popular cryptocurrency, hit an all-time high of $19,857 this week.

Surging interest in the digital token brought its year-to-date gain to 177%. The last record was set in December 2017 when its price reached $19,783.

Here's what five crypto experts had to say about its recent surge, and why the dollar hitting its lowest point in 2.5 years is good for Bitcoin.

Peter Smith, CEO and co-founder of crypto exchange Blockchain.com

Smith said bitcoin was a "grand experiment" from 2011 to 2014, when some thought it would take over traditional currencies. But between 2014 and 2017, the Blockchain.com team recognized it could work.

"From 2017 and onwards, Bitcoin's become inevitable. Bet on Bitcoin's inevitability," he said.

Paolo Ardoino, CTO at crypto exchange Bitfinex

"No amount of cynicism, disbelief or