➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net
Real Vision CEO and Bitcoin bull Raoul Pal says that a massive wall of institutional money is inevitably going to push the BTC price to $300,000 in a year and a half.
In an interview on Kitco News, Pal says that institutional investors are waiting in the wings to get access to Bitcoin, which is now a “globally recognized brand,” and a “ridiculously well-performing asset.”
“Yesterday alone, I was speaking to the founder of one of the largest investment firms in America. Investment advisors alone have $5 trillion in assets, and he’s trying to get all of his advisors and advise all the others as soon as the ETF is launched to get up to 1% of assets. I mean, that’s $500 billion from the investment advisors alone.”
“We’ve all seen these phases. These things where ‘We’re not going to use this, this is rubbish, why do we need this? I’ve got a fax machine, why do I need email?’ Suddenly, ‘What’s a fax machine?’ Look at all these dot coms, at their mania. Next minute, it’s normal. It’s part of life and Amazon’s a trillion-dollar company.
The world goes through these phases and the more conservative people, the less risk-takers, tend to be later to the party. So I think the banks are late here because they’re going to get disrupted somewhat.”
According to Pal, every single indicator and metric he uses for forecasting Bitcoin points to a mega-bullish rally in the next year or so.
“I use a number of measures. I use technical analysis, logarithmic charts. I use the stock-to-flow ratio… I use a whole number of different yardsticks… They all basically come to the same thing.
They basically come to: We’re going to be somewhere between $500,000 and a million dollars within five years, and we should be somewhere between $100,000 and $300,000 in the next 12 to 18 months.”
In other trending Bitcoin News today:
MicroStrategy Will Issue $400 Million In Securities To Buy More Bitcoin
The world’s largest publicly traded business intelligence firm, MicroStrategy has announced plans to invest the proceeds from a $400 million securities offering into Bitcoin.
On Dec. 7, the firm revealed plans to issue $400 million in convertible senior notes — a debt security that can be converted into the issuing company’s shares. The announcement stated:
“Microstrategy intends to invest the net proceeds from the sale of the notes in Bitcoin.”
At current prices, the $400 million would increase the company’s holdings by 20,833, which would bring the firm’s total crypto stash to almost 62,000 BTC.
Microstrategy will pay semi-annual interest to the note-holders until December 2025. The firm also reserves the right to redeem the notes for cash from Dec. 20, 2023.
The announcement states that MicroStrategy may also offer up to an additional $60 million worth of notes to its initial purchasers within 13 days of commencing the offering.
The securities will be issued under Rule 144 of the Securities Act, and will be available to qualified institutional investors only.
MicroStrategy made waves in the crypto world during August, when the firm revealed it had adopted Bitcoin as its primary reserve asset after purchasing 21,454 BTC for $250 million. It then purchased a further 16,796 BTC for $175 million the following month. The purchases were made through Coinbase’s OTC and brokerage platform.
Just a few days ago on Dec. 5, MicroStrategy’s CEO, Michael Saylor, announced the firm had purchased a further 2,574 BTC priced at approximately $19,427 each for $50 million, bringing its total crypto holdings up to roughly 40,824 BTC.
At current market value, MicroStrategy’s BTC stash is worth nearly $784 million, meaning the firm is currently up 65% on its $475 million investment.
🔥 Blog/Podcast: http://CryptoNewsYes.com
🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net
🔥 Subscribe on Spotify: http://spotify.cryptonewsalerts.net
🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net
🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes
🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net
🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net
🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net
🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: ► http://trezor.cryptonewsalerts.net
Ledger: ► http://ledger.cryptonewsalerts.net
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/bitcoin-s-market-cap-will-flip-gold-winklevoss-twins