HERE’S HOW BITCOIN WILL HIT $760K WITHIN NEXT 5 YEARS, SAYS ARK INVEST CEO CATHIE WOOD!!

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Bitcoin bull Michael Saylor, the co-founder, and chief executive officer of publicly-traded business intelligence company MicroStrategy, has been betting big on BTC, the leading cryptocurrency.

The company bought another 205 BTC on Friday, bringing its total holdings to 91,065 BTC, representing 0.488% of Bitcoin’s circulating supply.

While the company continues to bet more and more on Bitcoin, its share prices are not feeling the same bullishness. MSTR share prices have crashed nearly 60% in less than one month from their all-time high of about $1,314 on Feb. 9.

On Friday, the MSTR shares fell as low as $537 before recovering to $620. Interestingly, MSTR is suffering from losses more than Bitcoin.

During the same period, the price of Bitcoin went from $46,500 to an ATH of $58,300, only to see a correction of 26% to almost $43k. Currently, BTC is consolidating in the $40k-$50k range.

The losses in the cryptocurrency market have actually been the result of the weakness in the stock market, which has been reacting to the rising bond yields. “The bond market selloff is showing some signs of stability, and that could mean the bitcoin pullback is nearing its end,” said Edward Moya, a senior market analyst at OANDA.

In related news, MicroStrategy President and CFO Phong Le sold 10,000 shares of MSTR on March 2nd, at an average price of $802.46 a share. Company CTO Timothy Edwin Lang sold 10,000 shares of MSTR stock on Feb 22nd.

Moreover, General Counsel Wei-ming Shao sold 5,000 MSTR shares on March 3rd. Director Jarrod M Patten and Stephen X Graham also sold 1,150 shares and 2,000 shares respectively on Feb. 24.

Another criticism came from investment management firm Bireme Capital which published its Q4 2020 Investor Letter, revealing that it is short on MicroStrategy, declaring $450 as its fair value.

The fund that had a net return of 47.1% for the year ending 2020 said MicroStrategy has a massive premium, its market cap increasing by $9 billion on a ~$3b windfall on its bitcoin purchases.

According to Bireme Capital’s calculations, MSTR’s current share price implies a bitcoin price of $122,000. The letter reads,

“MicroStrategy (MSTR) is the latest firm with shrinking revenues and negligible profits to pivot to the blockchain. Rather than attempt to start a cryptocurrency business, MSTR pivoted in the most straightforward way possible: it simply bought hundreds of millions of dollars worth of bitcoin overnight. In one light, this is an utter abdication of all the principles of corporate finance. 

Why not return the money to shareholders, who can decide for themselves whether or not they want to own bitcoin? But in another light, this was a brilliant end run around the SEC, who has been denying bitcoin ETF proposals le and right for years. MSTR went from being a mere stagnant software business to the de facto bitcoin ETF.”

In other breaking Bitcoin news today:

Bitcoin Price Hits $51K As U.S. Senate Passes $1.9 Trillion Stimulus

The price of Bitcoin (BTC) reached over $51,000 on March 7 after the U.S. Senate passed the anticipated $1.9 trillion stimulus bill, which is roughly two times larger than the market capitalization of BTC.

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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:

a graph for people selling under $500k, now of all times. zoom out. also there are more halvings, eg next 2024 and a store of value (TAM) total addressable market of $200bil ($5m-10m/BTC). and QE, MMT, NIRP, YCC etc it’s an inflation storm out there. just saying. @ecoinometrics pic.twitter.com/y9UYVPkf5p

— Adam Back (@adam3us) March 6, 2021

The $1.9 stimmy denigrates the $USD and it’s a predictable move by Congress. And so are the next 10 – 20 stimmys coming. Since I can’t stop it, I buy #Bitcoin and watch the price skyrocket. Maybe someday we’ll come back to reality, but hopefully not too soon 😂😂😂

— Max Keiser (@maxkeiser) March 6, 2021

https://bitcoinexchangeguide.com/microstrategys-massive-premium-implies-bitcoin-price-of-122k-says-investment-firm-short-on-mstr/

https://cointelegraph.com/news/bitcoin-price-hits-51k-as-u-s-senate-passes-1-9-trillion-stimulus

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CRUCIAL ON-CHAIN BITCOIN INDICATOR SUGGESTS A STRONG RALLY WILL COME

Ki Young Ju, CEO of CryptoQuant, noted that BTC is likely on the verge of a full-blown bull run as the mining ecosystem flashes a number of bull signals.

He shared a chart on September 24th, noting that Bitcoin miners are suggesting that a bull run is around the corner.

This same signal appeared in early 2017, preceding a parabolic surge.

“If BTC miners still drive the price, the next bull-run should be starting soon. MPI(Miner Position Index) has a very high hit rate in forecasting the bull/bear market when the macro factors like the stock market are not significant.”

Should history rhyme, the Bitcoin price is on the verge of a parabolic rally that should bring it past the previous all-time high at $20,000.

And if history actually repeats itself with Bitcoin surging another 1500% from here, then the BTC price can literally skyrocket to $150,000.

Aside from pure on-chain data, analysts say that the fundamentals of Bitcoin are stronger than ever.

This corroborates the expectations of the cryptocurrency market to undergo a strong rally to the upside.

Speaking on the fundamentals of BTC, Raoul Pal, CEO of Real Vision, recently stated: 

“Most people don’t understand the latter but is simply put, Powell has shown that there is ZERO tolerance for deflation so they will do ANYTHING to stop it, and that is good for the two hardest assets – Gold and Bitcoin.

Powell WANTS inflation. I don’t think he gets true demand push inflation but he will get fiat devaluation, in conjunction with the other central banks all on the same mission.”

Others like Pal have echoed this optimistic sentiment.

They say that due to the vast amount of monetary stimulus amongst other geopolitical and monetary trends, BTC is primed to move higher.

In other trending Bitcoin News today:

Bitcoin Has 60X Market Expansion Potential, Says Crypto Investment Firm Galaxy Digital – Here’s Why

Galaxy Digital Capital Management, a leader in digital asset investing, says Bitcoin’s mainstream market presence is on the rise, with more growth potential than gold. 

Although the precious metal has historically been investors’ favorite time-tested and reliable safety net against financial uncertainty, Galaxy Digital says in a new report that recent investments in Bitcoin from macro investing legend Paul Tudor Jones and tech giant MicroStrategy highlight Bitcoin’s attractiveness as a potential hedge against inflation.

With a market cap of over $200 billion, Galaxy Digital says Bitcoin still has tremendous room to grow.

“Gold’s market capitalization is currently over $12 trillion. Bitcoin’s value, on the other hand, is currently around $200 billion, less than 2% of the gold market. That presents a potential greater than 60x market expansion opportunity if Bitcoin grows to gold’s level as an alternative, digital store of value asset.”

Due to its open-source ethos and 11-year history of negative correlation to major global assets, Bitcoin has transformed from an obscure, decentralized peer-to-peer digital transaction facility to a globally-recognized institutional asset that is resistant to political censorship or interference.

Institutional adoption and usage of Bitcoin has surged since the Covid-19 pandemic, thanks to swelling government debt and fiscal stimulus hitting record highs, says Galaxy Digital.

“Top investors and large institutions are adopting it as an inflation hedge, including macro legend Paul Tudor Jones and MicroStrategy Inc., a publicly-traded business intelligence software firm (NASDAQ: MSTR).” 

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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:

One year from now I think 1 Bitcoin will be worth $53,100

— Crypto Capital Venture ⚡️ (@cryptorecruitr) September 26, 2020

https://mcusercontent.com/4ee5467326fbf62430854c9c7/files/d3f78f5b-247d-4232-8f29-ad603fef945f/GFM_Digital_Assets_Diversified_September_2020.pdf

When This Signal Flashed in 2017, Bitcoin Gained 1,500%. It’s Back Again

https://cointelegraph.com/news/ultimate-bitcoin-bull-case-trader-says-23-factors-show-a-rally-is-due

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Dan Held, growth lead at crypto exchange Kraken, is outlining the catalysts that he believes could ignite a Bitcoin ‘Supercycle’, catapulting the BTC price to $1 million.

In a new episode of the What Bitcoin Did podcast, Held explains why he believes the current bull market could grow exponentially larger than Bitcoin’s boom cycles in 2013 and 2017.

“When I look at these cycles though, what makes me very excited about this upcoming one, which could be… a supercycle, is that this time, is different. The 2013 bull run, the 2017 bull run, it was mainly based on retail-driven speculation. The macro markets, the rest of the world, was doing fine. It was a large bull run and these were mainly speculative cycles run by retail with a very shaky infrastructure…

With this bull run, we’ve got a lot of different things lined up.”

According to Held, Bitcoin’s primary use case as a store-of-value asset was put into the spotlight by the Covid-19 pandemic amid the rampant money printing of governments across the globe.

Covid was the catalyst moment that makes Bitcoin shine. With the Covid lens when we look at Bitcoin, for most people who had dismissed it previously, now it makes sense. And that’s where we see this echoed by the institutions. The managers of all the wealth in the world, the large portion of wealth in the world, they look at Bitcoin as a store of value, as a gold 2.0… And that is a huge value for the world. 

As the governments had their response to Covid-19 being money printing, that will devalue these currencies eventually and folks are looking at the 21 million fixed hard cap of Bitcoin. They are looking at this monetary policy, they are looking at Bitcoin’s construction, and how decentralized it is. Now you can store value in it and no one can take that value away from you, as this incredible lifeboat…

So Bitcoin’s demand, or people believing in Bitcoin, that market has grown tremendously to where now we have institutions.”

Held adds that the improvement in cryptocurrency infrastructure, which has made the flagship crypto asset more accessible to retail investors, is another factor that could continue fueling demand.

“We also have a much more vast retail customer segment. So retail buyers can now buy Bitcoin on PayPal, Robinhood, Cash App. They can buy it everywhere. And eventually, that’s going to reach brokerages like Fidelity, like within a retail brokerage Fidelity or E-Trade and Interactive Brokers. Eventually, you’re going to be able to buy Bitcoin everywhere, which means Bitcoin can now tap into all demand that wants it.”

For the current bull run to qualify as a supercycle, the Kraken Bitcoin needs to appreciate over 20x from its current value of $48,944.

In other trending Bitcoin News today:

Bitcoin Breaks $50K: Why BTC Price Is Primed For Another Leg Up

The price of Bitcoin (BTC) surpassed $50,000 for the first time in history across major exchanges, including Coinbase and Binance Futures.

CryptoQuant CEO Ki Young Ju explained that Bitcoin’s struggle to break past $50,000 is about “Coinbase whales (USD) vs. Stablecoin whales (USDT).”

Ki emphasized that there was a negative Coinbase premium at the time Bitcoin rejected $50,000 in the morning. For BTC to cleanly break past it, he explained that the negative premium has to be “cooled down.”

Since the initial rejection, the Coinbase premium has stabilized, reaching parity with Binance’s Tether price.

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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:

Number of the day: 4,000,000,000,000$4T of cash sitting in US non-financial corporations.$4T is also Gold’s financial cap.

$4T is also #Bitcoin‘s projected cap for end of this year on current models.

— Willy Woo (@woonomic) February 16, 2021

https://cointelegraph.com/news/bitcoin-futures-break-50k-why-btc-price-is-primed-for-another-leg-up