Over 700 crypto currencies exist. Bitcoin is used to buy other cryptocurrencies, which increases demand for Bitcoin.
Bitcoin is up 82% to $1700 on May 9 from $935 on March 24.
Japan approves Bitcoin as a legal form of payment April 1. Blockchain technology gives credibility to digital currencies.
Investors may want to consider investing a small percentage of their net worth in crypto currencies like Bitcoin. I started buying Bitcoin in February and plan to put about 1% to 2% of my net worth in Bitcoin and other cryptocurrencies by summer's end. I think Bitcoin could reach $2,000 by year end.