➡️ REPLAY – TEEKA TIWARI – 5 Coins To $5 Million: http://final5.cryptonewsalerts.net
‘Buy Bitcoin‘ is emerging as the mantra against the ongoing global financial crisis.
The latest to join the cryptocurrency bandwagon is Chamath Palihapitiya, a billionaire venture capitalist with a history of investments in startups that Google and Microsoft would later acquire.
The Social Capital CEO was appearing on a CNBC daily to speak about the vast disconnect between a suffering economy and a cheering stock and bond market.
“We have completely divorced the economy from the stock and the bond markets,” Social Capital CEO Chamath Palihapitiya says. “The Fed has been the principal agent of that obfuscation.”
Before mentioning BTC, Palihapitiya criticized the U.S. Federal Reserve for launching a stimulus package that helped to inflate assets instead of helping taxpayers and consumers. He added that the central bank’s move neither solved income disparity nor unemployment.
What it did was allowing a few entities to play the financial markets to make more money.
The conversation shifted to the deflationary aspects of the Fed’s stimulus.
While Palihapitiya praised the Fed’s efforts to protect the U.S. economy amidst the coronavirus pandemic, he warned that the central bank’s decision to purchase corporate debt ETFs and balloon its balance sheets further could quicken “a really bad deflationary supercycle.”
When the question about where investors should put their capital as the economy shrinks popped, Palihapitiya recommended Bitcoin.
The veteran praised the cryptocurrency for its lack of correlation with other traditional assets.
He suggested that the feature alone could help investors obtain insurance against a deflating economy, citing Paul Tudor Jones, the founder & CEO of a $22 billion hedge fund, for taking a similar approach.
“Now all of a sudden even he is looking at bitcoin and the reason is [that] we are in this massive deflationary cycle,” said Palihapitiya. “I still struggle to find anything that is as uncorrelated to anything and to everything else than bitcoin.”
BITCOIN ADOPTION ON WALL STREET
Tudor Jones, on Monday, had told CNBC that he is holding about 1-2 percent of his net portfolio in the Bitcoin futures.
The billionaire investor, like Palihapitiya, commended the cryptocurrency for behaving as an insurance against the Fed’s massive money printing.
In other trending Bitcoin News today:
Crypto Milestone: Banking Giant JPMorgan Chase Provides Bitcoin (BTC) Bridge for Coinbase Customers The largest bank in the United States is singing a new tune about Bitcoin.
JPMorgan Chase is now offering banking services to cryptocurrency exchanges Coinbase and Gemini in a pivotal and critical turn for Bitcoin and digital assets as an emerging mainstream form of money.
The Wall Street Journal reports that JPMorgan Chase will allow Coinbase and Gemini customers based in the US to make ACH (automated clearing house) withdrawals and transfers, marking the end of the bank’s anti-crypto era led by CEO Jamie Dimon, the industry’s most outspoken crypto critic.
Dimon called Bitcoin “a fraud” in September of 2017. The chief executive went a step further when he threatened to fire any “stupid” employees caught trading the cryptocurrency.
That position has melted in the wake of the macro economic landscape that is awash in money printing, instability, mounting debt, shrinking GDP and a tumultuous stock market that has left investors looking for a hedge.
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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:
2014: “Bitcoin is a terrible store of value,” said Jamie Dimon2015: “Bitcoin will not survive”2016: “Bitcoin is going nowhere”2017: “Bitcoin is a fraud”2018: “I don’t really give a shit about bitcoin”
2020: –>https://t.co/rAWTvg2zL3
— Barry Silbert (@barrysilbert) May 12, 2020
“Buy Bitcoin,” Another Billionaire VC Tells Investors Looking to Escape Massive Deflation
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Nerve-Wracking Times for Traders: Top Crypto Analyst Reissues Bold $450K Bitcoin Price Forecast
Bitcoin, the pioneer of cryptocurrencies, is once again testing the nerves of traders as a top crypto analyst boldly reissues a staggering price forecast of $450,000 for the leading digital asset. This unexpected reiteration of a bullish prediction has sent shockwaves through the crypto community, leaving investors both excited and cautious as they navigate the current market conditions.
The article at the center of the buzz sheds light on a prominent crypto analyst who has decided to stand by their earlier forecast of Bitcoin reaching an impressive $450,000. In a market known for its volatility, such bold predictions can stir a myriad of emotions among traders, ranging from anticipation to skepticism.
As Bitcoin’s price weaves through ups and downs, the reissued forecast adds an intriguing layer to the ongoing dialogue about the future of the cryptocurrency. Traders find themselves at a crossroads, grappling with the decision of whether to align their strategies with this optimistic prediction or to approach it with a degree of caution given the unpredictable nature of the market.
The $450,000 Bitcoin price forecast raises questions about the potential catalysts and timeline that the analyst envisions for this remarkable surge. Understanding the reasoning behind such bold predictions is crucial for investors seeking to make informed decisions in an environment where sentiment can sway rapidly.
While some traders may view this as an opportunity to capitalize on a potential upward trend, others might approach it with skepticism, considering the various factors that can influence the crypto market. Regulatory developments, macroeconomic trends, and global events are among the external factors that could impact the realization of such a lofty price target.
As the crypto community navigates these nerve-wracking times, it’s essential for investors to conduct thorough research, stay informed about market developments, and approach predictions with a discerning eye. The reissued $450,000 Bitcoin price forecast adds an element of excitement to the unfolding narrative of the cryptocurrency market, but caution should prevail in the face of uncertainty.
In the ever-evolving landscape of cryptocurrencies, traders must remain adaptable and resilient. The coming weeks and months will undoubtedly provide more insights into whether Bitcoin can live up to this ambitious forecast or if the market has additional surprises in store for investors. As the crypto saga continues, traders buckle up for a potentially thrilling ride, keeping a watchful eye on Bitcoin’s price movements and the unfolding drama in the digital currency space.
