CryptoNews
- The head of the investment company Morgan Creek Anthony Pompliano believes that bitcoin in a few years will overtake the capitalization of gold. According to him, the main cryptocurrency is increasingly in demand among large investors. It is no longer perceived as a supporting asset, making it one of the most versatile investment tools that even government regulators will start working with. When the world has the possibility of “white” investing in bitcoin, its popularity will begin to increase at a frantic rate.
“I think bitcoin will surpass gold in capitalization by 2029. Then most of the financial institutions will stop being afraid of cryptocurrency and start investing large amounts in it. Until that time, digital assets will continue to be less in demand than fiat. The dollar and other currencies this year have shown weakness in the face of geopolitical fluctuations and even pandemics. Bitcoin has not only resisted, but also increased its potential”, Pompliano said.
- Larry Cermak, an analyst at The Block cryptocurrency publication, believes that if the trend continues, Ethereum can become the most sought-after asset in the corporate environment. “The commission revenues of Monero, Bitcoin Cash and BSV miners remain negligible. I think that there will be two big players in this game soon, bitcoin and ethereum. ETH continues to break records, and BTC still looks very weak in terms of the use of its network among companies,” Cermak said. In his opinion, the difference in their indicators will become so obvious soon that the altcoin will be officially recognized as the leader.
Emin Gün Sirer, a renowned researcher specializing in computer networks and P2P systems, also noted the upward trend in activity on the ethereum network. According to him, a typical mistake of investors in bitcoin is that they believe in its popularity this year, even though the coin has actually become just a means of saving assets.
- Seven out of ten cryptocurrency investors will keep their bitcoins even if its price drops to zero. This is evidenced by the results of a survey conducted by a well-known analyst under the nickname PlanB. The survey involved 22,635 Twitter users. When asked “At what price will you get rid of bitcoin if it does not rise sharply in the next few years?” 5.8% of respondents named the price below $1000, about the same amount - the range of $1000- $3000. 16.2% of those surveyed would have sold the coins at around $6,000. The remaining 72% of the survey participants said that they would continue to hold bitcoin even if its price approached zero.
Almost as many fanatical “hodlers” (57.5%) turned out in a July survey by critic of the first cryptocurrency, president of brokerage Euro Pacific Capital Inc. Peter Schiff, attended by 28,000 people.
- Legendary investor Warren Buffett will eventually see bitcoin in the investment portfolio of his holding company Berkshire Hathaway. Morgan Creek Digital venture capital firm co-founder Jason Williams is convinced of this. Moreover, in his opinion, Berkshire Hathaway can buy BTC even without the knowledge of its founder. 'These are young managers and analysts who are pushing gold trading and BTC trading. He won't even know when it happens," Williams explained. The reason for this forecast was the report of the management company of the "Oracle of Omaha" to the US Securities and Exchange Commission (SEC). According to this document, Berkshire Hathaway has reduced its positions in shares of the largest US banks - JPMorgan Chase & Co, Wells Fargo & Co, Goldman Sachs, Bank of New York Mellon, PNC Financial Services Group and US Bancorp, and has acquired almost 21 million shares of the gold mining company Barrick Gold for $562 million Now it's up to bitcoin.
- The SpaceChain project has announced the successful implementation of a multi-signature bitcoin transaction from space. The researchers sent 0.01 BTC to two addresses, for which they used specialized equipment located on the international space station. Recall that a multi-signature transaction, unlike a conventional transaction, requires multiple signatures for authorization, which has additional security benefits. “The implementation of the multi-signature transaction in space reflects our continued efforts to create an open network of satellites on the blockchain with enhanced security and unchangeability characteristics », 'reported SpaceChain co-founder and CTO Jeff Garzik.
The project is supported by the European Space Agency and intends to create products for digital banks and fintech companies in the future.
- Bitcoin price will reach $100,000 next summer, to be exact, on August 16, 2021. This is evidenced by the popular Stock-to-Flow (S2F) model used in the gold market. The forecast was published by an analyst under the moniker Bit Harrington. He added that the value seems too high to him for such a period but noted that Bitcoin has always gone against bearish sentiment.
Analyst and entrepreneur Mark Van Der Chase explained why this forecast could well come true. “A lot of people think it's impossible,” he wrote, “but I've seen 1,000% growth in less than a year at least twice in BTC history (in 2013 and 2017). S2F holds up pretty well after the halving. If the fear of lost profits resumes, anything is possible. "
On the same day, analyst Plan B, who was the first to apply S2F to Bitcoin, presented a chart confirming that recent BTC price movements are consistent with this pattern. According to his forecast, bitcoin could reach the level of $14,000 in the next week or two, for the first time since 2017.
- Bitcoin has overtaken the popularity of shares of leading companies in the United States, second only to Tesla. Boeing took the third place in views. This is evidenced by data from the analytical portal Blockchaincenter. Since the start of the year, Tesla shares have risen more than 283%, while bitcoin has added 60%. Apple, which rose 53%, failed to take the lead in any state. TradingView notes that the interest of traders and investors in this company is very low at the moment.
- Bloomberg reports on improving the fundamentals of the cryptocurrency market. The Blomberg Galaxy composite crypto index rose to its highest level since June 2019. This is a positive signal, according to analysts of the agency. Bloomberg experts linked the rise in the value of BTC and other cryptocurrencies with the improvement in the situation in the American stock market. The S&P500 is heading to new highs as investor interest in risky assets is growing again.
- The head of Galaxy Digital holding Mike Novogratz has once again stated that the value of bitcoin should increase to at least 20 thousand dollars by the end of this year. In an interview with CNBC, the entrepreneur spoke about his opinion on the future of the cryptocurrency industry against the backdrop of the halving experienced by the main coin and the economic situation in the world.
“Bitcoin is becoming a more sought-after retail tool. The interest of big investors in it is not fading either. This is stated by the increasing correlation of the main coin and precious metals. Bitcoin was heavily reliant on US stock markets in March, but now the connection between industries is gradually declining. The dollar exchange rate is almost irrelevant as well. The main reason for the surge in interest in cryptocurrency is the emission of large amounts of cash. In fact, fiat is just depreciating at a very fast rate. Because of this, the Bitcoin rally should start as soon as possible. I do not exclude that the historical maximum will once again be taken before the end of the year," Novogratz noted.
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