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Billionaire Ricardo Salinas talked with the director of Blockchain Land about his investment in Bitcoin. Salinas has said that he has 10 percent of his assets in BTC. Salinas has always been an advocate for Bitcoin. He posted on his Twitter profile that paper is worthless. And the best thing to put your money in is Bitcoin. The third richest man in Mexico has revealed that he is not afraid to put his money in BTC.
In other trending Bitcoin News today: Remembering John McAfee: Computer programmer and crypto evangelist dead at 75! Many may remember McAfee for being unapologetically outspoken for his thoughts on government overreach and for being a unique character in the crypto space. According to a report from Spanish international news agency EFE, John McAfee was found dead in his prison cell at the Brians 2 Penitentiary Center on Wednesday.
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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:
I’m Putting My Billion In Bitcoin, Billionaire Ricardo Salinas
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PLANB DOUBLES DOWN ON HUGE BITCOIN PREDICTION DESPITE RECENT COLLAPSE!! BTC LONG-TERM TRAJECTORY!!
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The crypto analyst known for first applying the stock-to-flow model (S2F) to Bitcoin is undeterred by the top cryptocurrency’s brutal price action. In a new tweet, PlanB reiterates his view regarding where we are in the current bull cycle, asserting that BTC is only a few months into its bull run.
“Just to be clear: I do not think $60,000 was the top, far from it, because I do not see the kind of transactions that normally happen after an all-time high (red dots). In fact, I think we are just a couple of months out of the bear market (blue dots). And yes, this on-chain view fits S2F(X).”
In other trending Bitcoin News today: Is Bitcoin Top In? Crypto Analyst Nicholas Merten Predicts BTC’s Long-Term Trajectory
“Cycle midpoint is where, generally speaking, you have a rally in this case. You set a pretty significant top for the next weeks or months and then after that, you start to continue that cycle and really set in an official market top for the overall cycle.”
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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:
Just to be clear: I do not think $60K was the top, far from it, because I do not see the kind of transactions that normally happen after an ATH (red dots). In fact, I think we are just a couple of months out of the bear market (blue dots). And yes, this on-chain view fits S2F(X). pic.twitter.com/omLh23MsrX
— PlanB (@100trillionUSD) May 18, 2021
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MICROSTRATEGY’S MASSIVE PREMIUM IMPLIES $122K BITCOIN PRICE, SAYS INVESTMENT FIRM SHORT ON MSTR!!
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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://cointelegraph.com/news/bitcoin-price-hits-51k-as-u-s-senate-passes-1-9-trillion-stimulus
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BITCOIN (BTC) WILL REACH 0K BY 2021, MARK MY WORDS SAYS ANALYST! KRAKEN LAUNCHING 1ST CRYPTO BANK
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Crypto analyst Elja Boom, the CEO of Ajoobz tweeted on Crypto Twitter to his 66.3K followers:
“Bitcoin will reach $100,000 by 2021. Mark my words.”
Lark Davis, another cryptocurrency influencer who is very bullish on BTC recently tweeted to his 57.7K followers:
“Quick reminder that the price of Bitcoin went from $11,000 to $20,000 in 14 days back in 2017. This market is a powder keg!”
Lark received the following skeptical response to his bullish tweet, “Yes but retail was the main driver, there is no surge in retail interest right now, see google trends.”
The Crypto Lark then replied:
“Yes, true, but also companies were not buying $175 million worth of BTC at a time which is the equivalent of 350,000 retail investors buying 500 bucks worth of bitcoin each.”
He’s referring to Microstrategy’s recent massive Bitcoin acquisition:
“On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.”
In other trending Bitcoin News Today:
Mad Money’s Jim Cramer ‘Fixated’ on Buying Bitcoin, Fears Massive Inflation
Jim Cramer, the Mad Money host and The Street co-founder, said he is “fixated” on needing to own bitcoin because he fears a “massive amount of inflation.”
While he owns “so much gold,” he is adamant about leaving a bitcoin inheritance to his children.
Cramer calls himself a gold bug because he has “so much gold,” he revealed.
He is concerned about hedging against inflation and leaving the right assets to his kids.
The former hedge fund manager explained that to hedge against inflation, he currently goes to his “inflation handbook,” and “what it says is buy gold, buy masterpieces and buy mansions.
Those are the three things.” He emphasized that “what we didn’t have in that menu was crypto and I think that you have to have [it].”
He further opined:
“I feel very strongly that I have missed crypto.”
Pomp clarified to Cramer that it is important to distinguish between bitcoin and cryptocurrencies.
“When you talk to your kids about it, you got to make sure it’s bitcoin not just crypto in general because bitcoin specifically has the inflation hedge – things that we’re talking about here.”
Cramer believes: My kids, when they get my inheritance, won’t feel comfortable with gold and will feel comfortable with crypto.
“I just need something that my kids will understand … and they will never understand gold and the reason why they’ll never understand gold is they think gold’s dangerous. It’s dangerous because it can be stolen. It’s dangerous because they don’t want to take it out of the bank,” Cramer shared.
As for cryptocurrency, the Mad Money host is also concerned about the security side, such as getting hacked.
However, Pomp explained several ways to keep his bitcoin more secure.
In other trending BTC News today:
Kraken is launching a crypto bank in Wyoming, paving the way for possible stock offerings
Cryptocurrency exchange Kraken is launching a bank under a new regulatory framework in Wyoming, a move that will expand its product suite, the firm said in an announcement Wednesday.
Headquartered in Wyoming, Kraken Financial will be regulated by the Wyoming Division of Banking under a so-called Special Purpose Depository Institution.
The new structure was purpose-built for cryptocurrency companies and will allow Kraken to offer certain banking functions to clients and effectively serve as the exchange operator’s primary banking relationship.
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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:
On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.
— Michael Saylor (@michael_saylor) September 15, 2020
https://news.bitcoin.com/mad-money-jim-cramer-bitcoin-inflation/
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