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Billionaire Ricardo Salinas talked with the director of Blockchain Land about his investment in Bitcoin. Salinas has said that he has 10 percent of his assets in BTC. Salinas has always been an advocate for Bitcoin. He posted on his Twitter profile that paper is worthless. And the best thing to put your money in is Bitcoin. The third richest man in Mexico has revealed that he is not afraid to put his money in BTC.
In other trending Bitcoin News today: Remembering John McAfee: Computer programmer and crypto evangelist dead at 75! Many may remember McAfee for being unapologetically outspoken for his thoughts on government overreach and for being a unique character in the crypto space. According to a report from Spanish international news agency EFE, John McAfee was found dead in his prison cell at the Brians 2 Penitentiary Center on Wednesday.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
I’m Putting My Billion In Bitcoin, Billionaire Ricardo Salinas
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BITCOIN PRICE METRIC SUGGEST K SURGE AFTER U.S. ELECTIONS!! EXPECT MASSIVE BTC SHORTAGE!!
➡️ Leverage OPM (Other People’s Money): http://100.cryptonewsalerts.net
The Bitcoin price has support to climb all the way to $15,000 per BTC if historic trends repeat themselves this year, a new report says.
Compiled by crypto index fund provider Stack Funds on Oct. 15, the report highlights Bitcoin’s market cap vs. realized cap ratio (MVRV) fueling gains, which could smash $12,000 resistance.
The BTC price has yet to attempt a breakout of $12,000, seeing rejection at $11,700 this week.
This has failed to dent optimism among analysts, who believe that $11,000 will provide solid support.
Going forward, however, the period following the United States elections in early November may result in more upside.
For Stack Funds, this hinges on the MVRV ratio. This is currently at 1.8, with signs that a retest of 2.5 from 2019, when BTC/USD hit $13,800, is in play.
“The current MVRV ratio is at 1.8, and is purportedly well supported by the trendline where bitcoin bottomed back in late 2018. The trend is also painting a similar trajectory as it did back in the 2017 bull run, with a steady growth inclination that tested an identical support trendline multiple times,” the report states.
“Given the strength in support, we are expecting a significant break of 2.0 in the near term as it looks to retest the 2019 peak at 2.5, which will put Bitcoin price above the $15,000 level.”
Stack also noted increasing institutional interest in Bitcoin as cementing the idea that the future is firmly bullish for price action.
Stone Ridge investing $115 million followed Square’s $50 million purchase, both gaining publicity on the back of MicroStrategy’s larger $425 million treasury investment.
Bitcoin futures open interest is also climbing this month, signaling that institutional activity is picking up once more.
“We further view that a re-positioning is occurring in the market with a possible shift in the economic climate, as futures volumes and open interest are starting to recover,” Stack’s report explains.
“Our eyes are peeled on the $12,000 key resistance level, as we expect further consolidation around current levels going into the elections before breaking into the upside going forward.”
In other trending Bitcoin News today:
‘Shorts Will Be Dead’ – Why Dan Tapiero Expects A Massive Bitcoin Shortage
In recent months, there has been a considerable spike in institutional demand for Bitcoin (BTC) following several high profile investments.
Over time, asset manager and 10T Holdings co-founder Dan Tapiero believes this could lead to a problematic shortage in BTC.
Alongside investments from Square, MicroStrategy and Stone Ridge, Bitcoin inflows to Grayscale Bitcoin Trust have surged.
Based on the rapid growth of institutional investments, Tapiero warns that short-sellers could see trouble in the future.
In the third quarter of 2020, the Grayscale Bitcoin Trust recorded an inflow of $1.05 billion.
This marked the firm’s first billion-dollar quarter and also highlights record-high institutional demand.
The firm’s quarterly report reads:
“Grayscale recorded its largest ever quarterly inflows, over $1 billion in 3Q20, making it the third consecutive record-breaking quarter. Year-to-date investment into the Grayscale family of products has surpassed $2.4 billion, more than double the $1.2 billion cumulative inflow into the products from 2013-2019.”
Considering the continuous increase in Grayscale inflow from institutional investors, Tapiero said:
“SHORTAGES of Bitcoin possible. Barry’s Grayscale Trust is eating up BTC like there is no tomorrow. If 77% of all newly mined turns into 110%, it’s lights out. Non-miner supply will get held off market in squeeze. Shorts will be dead. Price can go to any number.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
SHORTAGES of #Bitcoin possible.
Barry’s @Grayscale trust is eating up btc like there is no tomorrow.
If 77% of all newly mined turns into 110%, it’s lights out.Non-miner supply will get held off mkt in squeeze.
Shorts will be dead. Price can go to any number. pic.twitter.com/4S4TrLNH8J
— Dan Tapiero (@DTAPCAP) October 14, 2020
October is the month I gradually increase my $ALTS exposure, I’ll have at least 15% of my early October $BTC stash converted by months end.
No FOMO needed: smart bidding is the aim for now. I said it in 2019: couple months past halving I accumulate $ALTS big, trigger in motion.
— SalsaTekila (@SalsaTekila) October 10, 2020
❓Why does #bitcoin price not go up with all this institutional buying? Who is selling? BTC price is exactly where it should be, holding firm above $10K, waiting for that one moment .. asymmetrical returns .. patience! pic.twitter.com/pCyftmvHco
— PlanB (@100trillionUSD) October 16, 2020
https://cointelegraph.com/news/bitcoin-price-metric-suggests-15k-surge-after-us-elections-report
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JPMORGAN SAYS GOLD WILL SUFFER FOR YEARS BECAUSE OF BITCOIN! BTC TO K BY MAY 2021, SAYS THE MOON!
➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net
Bitcoin advocate, The Moon Carl who has 146,000+ YouTube subscribers, told his 70,000+ Twitter followers that he predicts the BTC price to hit $50,000 by May, 2021.
This virtually means he expects the Bitcoin price to grow 250% in the next 5 months.
Stock-to-flow model predicts a $100,000 BTC by December of 2021 so The Moon Carls bullish Bitcoin prediction is right in alignment with this popular model.
In other breaking Bitcoin News today:
JPMorgan Says Gold Will Suffer for Years Because of Bitcoin
The rise of cryptocurrencies in mainstream finance is coming at the expense of gold, says JPMorgan Chase & Co.
Money has poured into Bitcoin funds and out of gold since October, a trend that’s only going to continue in the long run as more institutional investors take a position in cryptocurrencies, according to the bank’s quantitative strategists including Nikolaos Panigirtzoglou.
JPMorgan is one of the few Wall Street banks that’s predicting a major shift in gold and crypto markets as digital currencies become increasingly popular as an asset class. The trend poses a problem for bulls in precious metals markets over the coming years if investors move, even a small slice, of their allocations away from gold and into crypto.
“The adoption of bitcoin by institutional investors has only begun, while for gold its adoption by institutional investors is very advanced,” wrote the JPMorgan strategists.
The Grayscale Bitcoin Trust, a listed security popular with institutions, has seen inflows of almost $2 billion since October, compared with outflows of $7 billion for exchange-traded funds backed by gold, according to JPMorgan.
JPMorgan’s calculations suggest Bitcoin only accounts for 0.18% of family office assets, compared with 3.3% for gold ETFs. Tilting the needle from gold to bitcoin would represent the transfer of billions in cash.
One way to play the theme is buying one unit of Grayscale and selling three units of the SPDR Gold Trust, the bank said.
“If this medium to longer term thesis proves right, the price of gold would suffer from a structural flow headwind over the coming years,” wrote JPMorgan’s strategists.
In other tending Bitcoin news:
MicroStrategy CEO Increases Convertible Senior Notes Offering to $635M to Buy More Bitcoin
Michael Saylor just doesn’t give a f—. As we reported, the company’s share dived 17% after Citi released its bearish report on MicroStrategy, where the analyst questions Saylor’s focus on Bitcoin.
While Citi analysts called Bitcoins’ rally “overextended,” it has been the Bitcoin investment that helped the company shares rise to a level not seen since 2000. In 2020, BTC has rallied more than 150% on top of 2019’s 90% gains.
MicroStrategy CEO announced today the pricing of the offerings of the convertible senior notes.
As per the official announcement, the offering amount has been bumped up to $550 million from the previous $400 million as shared in Monday’s announcement. The official announcement reads,
“MicroStrategy estimates that the net proceeds from the sale of the notes will be approximately $537.2 million (or approximately $634.9 million if the initial purchasers exercise in full their option to purchase additional notes).”
But of course, the most interesting part of it all is that the company intends to invest the net proceeds from the sale of notes in Bitcoin per its Treasury Reserve Policy. Bitcoin advocate Max Keiser said,
“Michael_saylor /MicroStrategy is making a speculative attack on the Fed/USD like Soros/Druckenmiller did against the BoE/GBP in 1992, ejecting it from the ERM.”
“Saylor has pulled the pin and tossed a grenade into the Fed’s boardroom.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Citi: “You’re crazy with this Bitcoin thing. You’re downgraded!” 👉🏻😵
MicroStrategy: “We have *so* much investor interest we’re upping our offering from $400M to $550M. Oh, and investors can buy another $100M on top of that if they want.”
— Ellie Frost (@BlockBytch_) December 9, 2020
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WE CAN SEE $400K BITCOIN IN 2022 EASY, SAYS JACK MALLERS, I THINK WE’RE GOING WELL INTO 6-FIGURES!!!
💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Strike CEO Jack Mallers shares his bullish Bitcoin price predictions with Anthony Pompliano on The Best Business Show Podcast.
“I think we’re going well into the 6-figures, when it happens I don’t care. I think within the next 12 months we’ll see well over $100,000 BTC very easily. I expect $100K to $250K, maybe $400K Bitcoin in the year 2022 easy.”
And on the Bitcoin network side of things regarding the relationship between Twitter and Strike he elaborates:
“In addition to the services currently enabled through Tips, people can now seamlessly tip with Bitcoin using Strike – a payments application built on the Bitcoin Lightning Network that allows people to send and receive Bitcoin. Strike offers instant and free payments globally.”
In other trending Bitcoin News today:
On-Chain Data Shows Bitcoin Supply Will Not Be Able To Meet Demand: Glassnode Co-Founder!
The firm’s latest data shows nearly 2,000,000 BTC has shifted from short-term to long-term holders since April of this year.
Glassnode’s Rafael Schultze-Kraft says the data clearly shows “supply will not be able to match demand.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Watch Jack Mallers Send $10 To El Salvador Via Twitter’s Lightning Tips
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