Last year was a bullish one for cryptocurrency, as the COVID-19 pandemic accelerated digital transformation worldwide. And as recently as Feb. 14, 2021, the cryptocurrency Bitcoin reached a record high of nearly $50,000 — up from $8,000 in January — driven by an interest in digital currencies from Fortune 500 companies, CNBC reported.

The insurance industry is slowly becoming comfortable with the cryptocurrency market; however, its unregulated nature and high-risk potential still make it too risky for some insurers to offer investors and businesses coverage.

InsuranceQuotes.com recently released its 2021 Insurance for Cryptocurrency Outlook that outlines the challenges and insurance opportunities available for investors and consumers, including why the insurance market has been slow to respond to demand in crypto insurance.

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