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Bitcoin is heating up – some may say erupting – as Latin American country El Salvadore plans to tap energy from volcanoes for mining the cryptocurrency. Nayib Bukele’s plans for crypto in El Salvador are still in motion, with the president now calling for a geothermal power company to make certain facilities available to Bitcoin miners.
In other trending Bitcoin News today: MicroStrategy gets $1.6 billion in orders in junk bond offering – four times the initially sought amount. Earlier this week, the company announced it would issue $400 million worth of junk bonds in a private offering, with a view to using the proceeds to purchase Bitcoin (BTC). One day later, the firm announced it would increase its bond offering to $500 million, after which it was inundated with $1.6 billion worth of orders.
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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:
https://cointelegraph.com/news/el-salvador-s-president-wants-to-build-volcano-powered-crypto-miners
https://cointelegraph.com/news/microstrategy-nets-1-6-billion-in-junk-bond-offering-to-buy-bitcoin
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BITCOIN WILL RISE 100X TO $5 MILLION PER BTC PREDICTS MICROSTRATEGY CEO MICHAEL SAYLOR!!
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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
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Bitcoin Price Will Hit 0,000 Cause it Beats Gold | BTC Price Up 4,000% in 5 Years
➡️ $274 Million Secret: Larry Benedict Live Event (REPLAY)
http://trade.cryptonewsalerts.netBitcoin (BTC) bulls estimate that the bitcoin price of each coin could hit $20,000 very soon thanks to rising demand.
But there are some who believe that the BTC price could very well go on to hit 6-figures in the future, including Morgan Creek Digital CEO Mark Yusko.
In a recent interview, Yusko said that the price of Bitcoin could eventually hit $500,000 thanks to its scarce supply, increasing demand, and advantages over a safe-haven investment such as gold.
According to Yusko, there’s $7.4 trillion worth of gold in the world.
He believes that bitcoin is a much better asset than gold because it can be transferred easily and divided into smaller parts.
To arrive at his forecast, Yusko equated the gold market’s value to that of the digital asset. He said:
“So if we get the amount of value in total Bitcoin market value or network value equal to gold, that’d be about $7.4 trillion divided by 21 million coins, although there aren’t really 21 million left, and you get around $400,000 a coin, maybe $500,000 a coin. Now, when does that happen? It’s probably over a decade or maybe even more.”
Another Bitcoin bull John McAfee recently shared on Crypto Twitter:
“In 5 years BTC is up 4082.52% in last 52 weeks it’s up 129.10% in the last month it’s up 10.33% & last 5 day’s its up 1.71%. Fuck FIAT”
In other BTC news today, the Bitcoin price still has potential to dive to $5,500, yet macro uptrend still intact.
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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:
the golden cross is here for 2020 but it still might dive 5.4-5.6k (0.786 Fib), unless we start closing weekly 8k+I wouldn’t mind cheap ₿₿₿ for Christmas personally🎅🎁Reminder:
Decembers have almost always provided us with extremes and pivots. U ready for when it comes? pic.twitter.com/XFk6ORaZbH
— Crypto₿irb (@crypto_birb) December 14, 2019
In a period where: —political tensions escalate between US and China, —global equity markets fall sharply—VIX largest spike in many months
—global yield curves flatten/invert#bitcoin has RISEN and >$6,000
Crypto showing its value as an uncorrelated asset.
— Thomas Lee (@fundstrat) May 9, 2019
One other clue that we use to determine this, especially in channels, is the ability for price to leave the channel on these climaxes. See here for the example of $BTC when it hit the top after it’s markup.Price leaves the channelVolume is huge
Wyckoff clues say top pic.twitter.com/KPVHUYpgB9
— Cold Blooded Shiller (@ColdBloodShill) December 7, 2019
https://www.ccn.com/bitcoin-price-500000-beats-gold-mark-yusko/
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BITCOIN PRICE RALLY IN 2017 CAUSED BY ONE WHALE?! | Stellar Lumens (XLM) Crypto Supply Manipulation?
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Last year, two academics concluded that the Bitcoin price rally in 2017, when BTC hit the all-time high, was caused by manipulation.
Now the research authors figured out that the surge was likely caused by a single entity. University of Texas Professor John Griffin and Ohio State University’s Amin Shams shared their updated research paper with Bloomberg where they double down on past claims that Tether, the biggest stablecoin issuer, was the sole reason the Bitcoin price surged to its insurmountable all-time high of $20,000 at the end of 2017.
Now, the academics claim that a single Bitfinex whale was actually responsible for fueling Bitcoin’s rocket to the moon.
“Our results suggest instead of thousands of investors moving the price of Bitcoin, it’s just one large one.”
In other Cryptocurrency news today, a few hours ago the Stellar Development Foundation burnt 50,000,000,000 XLM.
Ripple XRP has also been fiddling with Crypto token supply recently in a possible ploy to inflate token prices.
Stellar Lumens pumped 25% on the announcement and XRP also got a lift, but are they connected?
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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.
News Resources From Today’s Show:
$XLM just burned half their “total” supply The current “circulating” supply didn’t decrease from my knowledge, therefore I don’t see the rush to buy (though it will pump hard)
There are still 50 Billion tokens, people act like it’s a scarce asset 😄
— Josh Rager 📈 (@Josh_Rager) November 5, 2019
Ugh. Their “research” is based on an elementary misunderstanding of how financial assets work. It’s like saying that GLD is traded mostly by 1 person because it has a single custodian and a single point for creations and redemptions.
— Ari Paul ⛓️ (@AriDavidPaul) November 4, 2019
I continue to be disappointed by career academics that fail to understand Bitcoin/crypto market structure basics as well as the fundamentals of cause and effect. The rise of tether is a result of organic bitcoin and crypto demand in periods of hyper growth.https://t.co/fMyhwPC5oa
— Gabor Gurbacs (@gaborgurbacs) November 4, 2019
https://u.today/bitcoin-price-rally-in-december-2017-was-orchestrated-by-one-whale-research
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