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Bold Profits Daily guru, Ian Dyer, doesnât think the Bitcoin price will just hit $100,000, he thinks is will soar past it!
Ian believes the BTC price can go to $115,000 by next August. That means Bitcoin could soar 995% in less than a year.
Talk about a fast, HUGE return!
The bullish Bitcoin prediction is right in alignment with the infamous Stock-to-Flow model which suggest a $100,000 BTC price by August, 2021.
âWeâre telling you how you can benefit from the rise of Bitcoin as it disrupts the global financial system. Our prediction stands: The Dow and Bitcoin will hit 100K in America 2.0.â
THE 995% RETURN YOU DONâT WANT TO MISS!
âYou know weâre extremely bullish, optimistic and positive on Bitcoin. The reasons it could surge in just a short time stem from Paulâs GoingUpness strategy.â
âSince March, the number of Bitcoin stored on a crypto exchange is decreasing, which adds to Bitcoinâs ScarceAbility: At the same time, the Bitcoin price has risen more than 150% from its March low. Plus, demand for BTC has continued to increase.â
âLast month the first publicly-traded company announced that it used $400 million of its cash to purchase about 38,000 bitcoins. This is incredibly bullish. Corporations are starting to see its value which is another sign of demand.â
In other trending Bitcoin News today:
Grayscale Investments Scooped Up Over 17,000 BTC in the Last Seven Days
The Grayscale Bitcoin Trust (GBTC) is a very popular investment vehicle and in 2020 the trust has obtained a massive amount of BTC.
Today, GBTC has $4.7 billion assets under management (AUM), according to data provided by bybt.com.
Grayscaleâs bitcoin position is also displayed on the company website as well for transparency purposes.
Since the Grayscale Bitcoin Trust inception date on September 25, 2013, there are 471,022,700 shares outstanding and each share is worth 0.00095519Â BTCÂ per share.
This week, digital currency proponents noticed that Grayscale scooped up around 17,100Â BTCÂ or $182 million using todayâs exchange rates.
Bybt.comâs data shows the trust obtained the bitcoin stash during the last seven days and GBTCâs aggregate bitcoin position is now 449,900 BTC.
Bitcoin (BTC)Â markets have done well in recent days and dominance is nearing 60% again.
The cryptocurrencyâs percentage change versus USD during the last year is up 29% and during the last 90-days, BTC has gained over 16%.
With 449,900 BTC held, Grayscaleâs Bitcoin Trust has 2.14% of the entire 21 million BTC supply.
As far as coins in circulation, BTC just passed the milestone of 18,500,000 in circulation.
This means GBTCâs purse represents 2.43% out of the BTC currently in circulation.
No one knows exactly how Grayscale acquired the 17,100 BTC, but Microstrategyâs CEO Michael Saylor explained the efforts his company took to purchase the 16k BTC Microstrategy recently purchased.
âTo acquire 16,796 BTC, we traded continuously 74 hours, executing 88,617 trades ~0.19 BTC each [three] seconds,â Saylor said. â~$39,414 in BTC per minute, but at all times we were ready to purchase $30-50 million in a few seconds if we got lucky with a 1-2% downward spike,â
Saylor added. A number of BTC proponents also believe that companies like Microstrategy and Grayscaleâs Bitcoin Trust snatching up vast amounts of BTC is bullish for investors.
CEO of UK bitcoin exchange Coincorner, Danny Scott, tweeted on Sunday that BTCâs âfoundations are getting stronger by the day.â â62 days of Bitcoin ending above $10,000,â Scott tweeted. âPrevious was 61 from 1st Dec 2017.â
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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:
Bitcoin: No. 1 In Race to 100K?
https://news.bitcoin.com/grayscale-investments-scooped-up-over-17000-btc-in-the-last-seven-days/
https://cointelegraph.com/news/only-25-million-bitcoin-left-to-mine
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