NORWEGIAN INVESTMENT FIRM PURCHASED $58 MILLION IN BITCOIN FOR ITS TREASURY WITH PLANS TO ADD MORE!!

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Bitcoin could surge to $100,000 by the end of 2021, according to the crypto investor Anthony Pompliano. 

BTC traded as high as $19,389 on Wednesday and is nearing its all-time high, reached in 2017.

Pomp, a cofounder of Morgan Creek Digital, told CNBC on Wednesday that demand for Bitcoin was rapidly outpacing supply, especially after its “halving” in May, when the number of Bitcoins awarded to miners was cut in half. 

This occurs roughly every four years and serves to limit the supply of BTC coming into the market. 

Bitcoin is “the winner of a supply-and-demand exercise,” Pompliano said.

Pomp added that the macroeconomic environment right now was “rocket fuel” for Bitcoin. 

Low interest rates, money printing, and the Federal Reserve’s average inflation target of 2% have driven retail and institutional investors into BTC, he said.

The investor also said that Janet Yellen, President-elect Joe Biden’s pick for treasury secretary, was “notorious” for tolerating higher levels of inflation and that this could also push the BTC price higher.

“I don’t think it’s that crazy to see a $100,000 Bitcoin price by the end of 2021,” Pompliano said. 

“And if we continue to get bigger and bigger buyers … if this kind of tips over and all of the sudden it becomes kind of a consensus trade, it wouldn’t surprise me to see something even higher than $100,000.”

Bitcoin has surged by roughly 160% this year as more major investors and institutions acknowledge the cryptocurrency’s legitimacy as a store of value. 

The billionaire hedge-fund manager Stanley Druckenmiller told CNBC earlier this month that he owned a “tiny bit” of bitcoin as a hedge against inflationary pressure, while the venture capitalist Chamath Palihapitiya said in February that every citizen should hold 1% of their assets in bitcoin because it’s a “fantastic hedge.”

Despite his bullish view, Pompliano shared two potential risks he sees for Bitcoin.

“The first thing’s a self-inflicted wound, right, if there’s a bug introduced into the code or something like that,” he said. “The second thing would be some sort of geopolitical risk where we saw a really aggressive coordinated kind of action by multiple nation-states.

“But again, I think that those things are very low probability of occurring, so it doesn’t really kind of seem like that’s going to happen in the short term.”

In other trending Bitcoin News today:

How Massive Liquidations Caused Bitcoin to Plummet 16% in 24 Hours

Bitcoin fell by a whopping 16% to $16,334 on Nov. 26 since achieving its peak at $19,484 the previous day. Data suggests that cascading liquidations were the driving force of the massive correction.

Prior to the pullback, the open interest of the Bitcoin futures market hit a new record high. The derivatives market was also overheated with buyers, causing the market to sway to one side.

The combination of two factors triggered a rapid BTC price drop alongside a spike in futures trading volume.

Over a billion dollars worth of futures contracts were liquidated, similar to the March 12 crash. The Chicago Mercantile Exchange, for example, saw $1.8 billion in volume — its highest ever, according to Skew.

As the price of Bitcoin started to drop, inflows into exchanges spiked. This indicates that whales, or high-net-worth investors, were selling heavily on major exchanges, including Coinbase.

Ki Young Ju, the CEO of CryptoQuant, pointed out that the All Exchanges Inflow Mean indicator was showing the selling pressuring coming from whales.

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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:

Last week we heard rumors that the U.S. Treasury and Secretary Mnuchin were planning to rush out some new regulation regarding self-hosted crypto wallets before the end of his term. I’m concerned that this would have unintended side effects, and wanted to share those concerns.

— Brian Armstrong (@brian_armstrong) November 25, 2020

Bitcoin Falls as Mnuchin [Reportedly] Plans to Regulate Private Wallets

https://markets.businessinsider.com/currencies/news/bitcoin-price-bullish-view-anthony-pompliano-halving-supply-demand-record-highs-2020-11-1029839786

https://cointelegraph.com/news/how-massive-liquidations-caused-bitcoin-to-plummet-16-in-24-hours

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The Bitcoin price will rise exponentially until “it’ll get almost impossible to buy BTC as price rockets higher” Max Keiser has announced.

Speaking to Express.co.uk, RT host of the Keiser Report, Max Keiser said: 

“The demand for Bitcoin is growing almost exponentially while supply is mathematically locked at 900 a day and in fact, in 2024, the supply gets cut in half again to 450 a day. 

This is why I think institutions that are buying Bitcoin will do so directly from miners and the public won’t have a chance to buy any. The public will be shut out as the price rockets to $1,000,000 per BTC.”

“Meanwhile, Generation Z who bought lots of bitcoin when it was under $100, will be the new global power elite. The world order is about to flip.”

Studying the daily demand for Bitcoin from the world’s major exchanges, the current estimated average daily demand far outweighs the daily supply created by mining bitcoin.

The daily demand on exchanges amounts to 2,600 BTC, whereas the supply from mining is only 900 Bitcoin.

Of this disparity, Max Keiser said: “This is amazing, the daily demand from these four is 2,600 Bitcoin, but the daily supply from mining is only 900 Bitcoins.”

This Bitcoin prediction of an escalating price was also echoed by Dan Morehead, the CEO of Pantera Capital, who said: 

“The first investment firm in the US to launch a digital currency, pre-auction ICO, and blockchain-enabled venture funds. 

PayPal and CashApp already buying more than 100 percent of all newly-issued bitcoins. PayPal alone likely buying all within weeks. Where would Cash App get theirs? That’s where the finite-supply, inelasticity part comes in, at a higher price.”

Bitcoin expert Dan Held gave a list of the financial institutions “and trading legends” that recognize Bitcoin is the new gold.

Mr Held tweeted the following names and institutions, “Fidelity, JP Morgan, Bloomberg, Deutsche Bank, Citibank, Jeffries, Blackrock, Susquehanna, Jump Trading, Paul Tutor Jones and Stanley Druckenmiller”.

A follower of Mr Held tweeted: “Bitcoin will divide people into two groups. In those who have it and those who want it.”

In other trending Bitcoin News today:

“BlackRock Chief Investment Officer Says Bitcoin Will Overtake $10 Trillion Gold As Primary Store of Value”

Rick Rieder, chief investment officer of global fixed income at investment management corporation BlackRock, says he believes Bitcoin will surpass gold as the primary store of value.

In a CNBC Squawk Box interview, Rieder explains why he believes Bitcoin and cryptocurrency at large aren’t going anywhere.

“I think cryptocurrency is here to stay and I think it is durable and you’ve seen the central banks that have talked about digital currencies. I think digital currency and the receptivity, particularly millennials’ receptivity to technology and cryptocurrency is real. Digital payments systems is real so I think Bitcoin is here to stay.”

The BlackRock executive highlights why he believes Bitcoin will overtake gold as the go-to store-of-wealth asset.

“Do I think it will take the place of gold to a large extent? Yeah, I do because it’s so much more functional then passing a bar of gold around.”

While Rieder sees a rosy future for the largest cryptocurrency, he admits that he does not include much BTC in his corporate and business portfolios. 

Also, the BlackRock CIO says he’s unsure whether Bitcoin is worth the price it is trading at today, which is around $18,770.

Rieder is the latest high-profile Wall Street figure to see the potential of Bitcoin. Earlier this month, billionaire investor Stanley Druckenmiller revealed he owns Bitcoin and said that the flagship cryptocurrency has more upside potential than gold.

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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:

Current #bitcoin price action is nice, but we are waiting for a real jump (like the red arrows early 2013 and 2017). IMO that will be the start of the real bull market, and indeed phase5. January 2021? pic.twitter.com/orzwdCOcvP

— PlanB (@100trillionUSD) November 22, 2020

https://www.express.co.uk/finance/city/1363025/Bitcoin-price-news-update-latest-rocketing-surging-big-institution-banks-buy-directly-mine

https://cointelegraph.com/news/bitcoin-price-dips-below-18k-time-to-watch-these-whale-cluster-support-zones

💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts

The CEO of digital payment platform Abra says Bitcoin could break $250,000 before year’s end, but he also thinks that the crypto markets are overdue for a healthy correction.

On a new episode of What Bitcoin Did with Peter McCormack, Bill Barhydt says he’s looking for potential resistance at the $60,000 level before a massive BTC correction ensues.

“If I look at the tea leaves, we haven’t had a 30% pullback since we went back down to $30,000 when we first got up to $44,000, $43,000, whatever it was, so we’re due for that. If I had to guess, I would say if you look at the upward slope that we’ve been on since December, depending upon how fast we get there, if it’s in February, we could top out just below $60,000 and then easily fall 30% and that would actually wind up the rubber band to probably go to $85,000 to $90,000. That would take us probably through August which if you look at stock to flow (S2F), it’s basically said that’s around the time it should happen and it’s uncanny, I mean it really is uncanny how accurate that model has been.”

Although Barhydt is short-term bearish on Bitcoin, he predicts that the largest crypto asset has more upside potential but its bull market peak may all depend on the rate of adoption of big corporations.

“What’s interesting is once you get to that August timeframe when you start to approach $100,000, PlanB’s two models diverge. Because he’s got the one model, the original stock to flow which says we’re at $100,000 for 24 months basically. And then he’s got his cross-asset model which basically talks about the next phase which says, ‘Hey we get up to $250,000 this year…’

Last December, when I went on, I think, your show and I talked to [Anthony Pompliano] and others, I basically said I think Bitcoin is going to be at $100,000 by the end of 2021. I still think that’s right but I think that if we get a bunch of other Fortune 500 companies making announcements like Tesla, that is going to push this up to a quarter of a million very quickly.”

In other trending Bitcoin News today:

MicroStrategy Prepares To Purchase $1,030,000,000 in Bitcoin After Completing Debt Offering

Business intelligence firm MicroStrategy is gearing up to make an additional purchase of $1.03 billion worth of Bitcoin.

In a new post on the company’s website, the publicly-traded firm announces that is wrapping up its offering of convertible notes in an effort to acquire more funds to buy Bitcoin.

The offering, which closed on February 19th, allows qualified institutional investors to purchase unsecured notes from MicroStrategy which have a maturity date of February 15th, 2027.

MicroStrategy reports earning approximately $1.03 billion from the sale of its notes and plans to use the entirety of those funds to purchase more Bitcoin.

“MicroStrategy estimates that the net proceeds from the sale of the notes will be approximately $1.03 billion, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by MicroStrategy.

MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional Bitcoin.”

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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:

“They say #Bitcoin is the ‘Big Bang’ of money b/c you can only do it once. That’s one of the attributes of it. There’s no imitators to ever come along. You can only create absolute scarcity once, you can only create the multiverse once with the Big Bang.”-@MaxKeiser 🍊💊

— Crypto News Alerts 🔥🎙 (@CryptoNewsYes) February 21, 2021

If I were to actually buy some #Bitcoin, how would I know when to sell? If your answer is to never sell, then what is the point of buying in the first place?

— Peter Schiff (@PeterSchiff) February 21, 2021

https://cointelegraph.com/news/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week