BITCOIN BLASTING OFF TO $700,000, ACCORDING TO CRYPTO INVESTMENT FIRM PANTERA CAPITAL – HERE’S WHEN!

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John McAfee has just backpedaled on his $1 Million Bitcoin price prediction, one of the wildest wagers in the history of Cryptocurrency.

In his recent tweet, the cybersecurity tycoon makes it clear that his promise to eat his penis if the BTC price doesn’t go to $1 Million by Dec. 31, 2020, was simply a ‘ruse’ that was meant to attract new users.

John McAfee tweeted on Crypto Twitter:

“Eat my dick in 12 months? A ruse to onboard new users. It worked. Bitcoin was first. It’s an ancient technology. All know it. Newer blockchains have privacy, smart contracts, distributed apps and more. Bitcoin is our future? Was the Model T the future of the automobile?”

In other Crypto news today, a number of analysts are still bullish on Bitcoin.

One analyst recently drew attention to a fractal, suggesting that should BTC follow it, the price of the cryptocurrency could top $10,000 by February.

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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:

Eat my dick in 12 months?A ruse to onboard new users. It worked.Bitcoin was first. It’s an ancient technology. All know it.Newer blockchains have privacy, smart contracts, distributed apps and more.Bitcoin is our future?

Was the Model T the future of the automobile?

— John McAfee (@officialmcafee) January 5, 2020

This Fractal Suggests Bitcoin Price Will Explode Past $10,000

https://bitcoinist.com/has-mcafee-drops-bitcoin/

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Determining the true Bitcoin value can be more complicated than simply looking at the current BTC market price.

“Most Bitcoins already cost at least $100,000, but probably more like $10 million,” said Michael Goldstein, also known as Bitstein, in an Aug. 17 tweet. 

While the Bitcoin price sits around $12,000 at this time, many folks in the crypto industry likely value the asset at a much higher price tag.

If someone buys a BTC at $10,000, but is unwilling to sell it until the asset reaches $100,000, then the price tag of that Bitcoin is naturally much higher than its current market value.

This then begs the question: How many Bitcoin are currently worth $100,000?

At the start of the year, 64% of Bitcoin’s circulating supply had remained in the same wallets since 2018, which seems to suggest that most BTC has a higher valuation than current market prices indicate.

According to Goldstein, many of Bitcoin’s largest bag holders value the asset between $100,000 and $10 million.

These numbers sit in line with a bevy of price predictions from various authorities over the years.

On March 5, 2020, Bitcoiner Max Keiser predicted Bitcoin shooting up to $100,000 in 2020 as fueled by COVID-19 repercussions.

Other notable names across the industry also predicted prices above $100,000 for Bitcoin at some point, including Morgan Creek Digital co-founder Anthony Pompliano, BTC stock-to-flow model creator PlanB, and cryptographer Adam Back, among others.

In other trending Bitcoin News today:

Million-Dollar Bitcoin Whale Says Traders Should Track Two Altcoins in Addition to BTC

An outspoken Bitcoin whale who rarely shows affection for anything other than BTC says two crypto assets have potential.

The pseudonymous trader known as Joe007 says UNUS SED LEO (LEO) may be a solid pick for investors looking to diversify their crypto portfolio.

“In a sane world, extremely low correlation by LEO would make it a desirable diversification instrument when it comes to constructing crypto portfolios. But of course, crypto traders are too busy chasing the latest shitcoin-du-jour pump to even take a notice.”

LEO is an ERC20 utility token that operates on the Ethereum and EOS blockchains.

LEO holders enjoy multiple benefits on the crypto exchange Bitfinex including taker fee reduction, lending fee reduction, and discounts on crypto and fiat deposits and withdrawals.

Joe, who is known for placing large bets on the crypto exchange Bitfinex, says another coin on his list is Binance Coin (BNB).

The trader says the token offers a use case that sets it apart from other crypto assets.

Binance Coin is a utility token issued by crypto exchange Binance. BNB holders get discounts when using the coin to pay for trading fees on Binance and Binance DEX.

Holders can also use BNB to pay for goods and services to select merchants.

Because demand for both BNB and LEO is driven in part by the performance of their respective crypto exchanges, Joe says they have an additional potential use case aside from simply being a digital form of money.

“I wouldn’t consider LEO or BNB shitcoins, actually – as they are not trying to be money (‘coins’) in the first place. If anything, they are equity-like centralized crypto assets.”

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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:

It’s an interesting thought experiment. What is the closest price it would take for you to sell all your bitcoins right now, on the condition you could never own any ever again?

— Senuto Cryon (@senutocryon) August 18, 2020

Most bitcoins already cost at least $100k, but probably more like $10 million.

— Michael Goldstein (@bitstein) August 18, 2020

ICYMI: #bitcoin is nicely moving away from 200 week moving average. 200WMA is currently $6400, is increasing $200 per month, and has never decreased. Best of all, BTC monthly close has never been below 200WMA. pic.twitter.com/c21W1kVDiv

— PlanB 🔴 🔴 🔴 (@100trillionUSD) August 19, 2020

https://dailyhodl.com/2020/08/18/crypto-strategist-says-this-large-cap-altcoin-is-about-to-outperform-bitcoin-with-175-upside-potential/

https://dailyhodl.com/2020/08/19/million-dollar-bitcoin-whale-says-traders-should-track-two-altcoins-in-addition-to-btc/

https://cointelegraph.com/news/98-of-all-bitcoin-is-now-worth-more-than-when-you-bought-it

https://cointelegraph.com/news/a-critical-mass-of-long-term-btc-hodlers-seem-to-be-making-100k-inevitable

💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts

Software giant Microstrategy has purchased more than $1 billion worth of bitcoins to bring its total cryptocurrency holdings to above $4.5 billion worth.

The company announced on Wednesday that it had acquired an additional 19,452 bitcoins at an average price of $52,475.

This brings the firm’s total holdings to 90,531 bitcoins, which altogether were bought at an average price of $23,985 per bitcoin. This means Microstrategy has more than doubled its investment, with the holdings are currently worth more than half of Microstrategy’s $7.84bn market cap .

Bitcoin is currently trading at around $50,000 after crashing from a new all-time high above $58,000 on Sunday, 21 February, however CEO Michael Saylor predicts that bitcoin’s price could rise 10-fold over the coming years.

Mr Saylor said the latest investment was part of a twin corporate strategy of growing its software business while simultaneously “acquiring and holding bitcoin” in the expectation that its price will continue to grow in the long term.

“The company now holds over 90,000 bitcoins, reaffirming our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value,” he said.

“We will continue to pursue our strategy of acquiring bitcoin with excess cash and we may from time to time, subject to market conditions, issue debt or equity securities… with the objective of using the proceeds to purchase additional bitcoin.”

Speaking to CNBC before the latest investment was announced, Mr Saylor said that he believed bitcoin’s market cap would rise $100 trillion – 10-times that of gold’s.

It is currently worth less than $1trn, having risen from below $100bn last March.

“Bitcoin is going to flip gold, and it’s going to subsume the entire gold market cap,” he said.

“Once it gets to $10 trillion, its volatility will be dramatically less. As it marches toward $100 trillion, you’re going to see the growth rates fall, the volatility fall, and it’s going to be a stabilizing influence in the entire financial system of the 21st century.”

Microstrategy’s announcement comes less than three weeks after Tesla revealed that it had ploughed $1.5bn of its cash assets into bitcoin.

Prior to the electric car maker’s announcement, Mr Saylor offered advice to Tesla boss Elon Musk on how to purchase such large amounts of bitcoin.

In a public Twitter exchange, Mr Saylor said the investment would be a “$100 billion favour” to Tesla shareholders.

In other breaking Bitcoin News today:

Cardano Is Now A Top-Three Cryptocurrency As ADA Price Soars 27% In 24 Hours

Cardano Ada received a fresh wave of optimism and buying volume on Feb. 26 that pushed its price to a new all-time high of $1.49, making it the third-ranked cryptocurrency by market capitalization. 

Data from Cointelegraph Markets and TradingView shows that Ada surged 27% from a low of $0.98 during the early trading hours on Feb. 26 to its new high at $1.49 on record trading volume. 

Momentum for the project has been building throughout the month of February following the integration of the Mary upgrade to Cardano’s testnet on Feb. 3. The upgrade enables smart contract functionality, helping transform the blockchain into a multiasset network similar to Ethereum.

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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:

FACT: Any perceived “Utility value” for Gold adds nothing – while its being abandoned as money in favor of #Bitcoin In fact, it’s a primary reason why the market prefers BTC over Gold. BTC’s price-discovery is unencumbered by any perceived utility-value. It’s just pure money. https://t.co/uduDVlAtoF

— Max Keiser (@maxkeiser) February 27, 2021

The Bullion Banks and Central Banks have been demonetizing Gold for decades. Into the mess strolled #Bitcoin Now the demonetization process is speeding up.

— Max Keiser (@maxkeiser) February 26, 2021

#Bitcoin Price is now $80,000 in Nigeria – a 60% premium.

That’s what happens when you try to ban something people want.

— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) February 18, 2021

https://www.independent.co.uk/life-style/gadgets-and-tech/bitcoin-microstrategy-cryptocurrency-price-prediction-b1807283.html

https://cointelegraph.com/news/why-is-bitcoin-86k-in-nigeria-here-s-why-the-btc-premium-is-huge-in-some-countries

https://cointelegraph.com/news/cardano-is-now-a-top-three-cryptocurrency-as-ada-price-soars-27-in-24-hours