PUTIN AND XI LOOKING AT BITCOIN TO BYPASS SWIFT AND USD, BTC CAN HIT $1M OVERNIGHT, SAYS MAX KEISER!

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Bitcoin Billionaires, Tyler and Cameron Winklevoss, believe weakness in the U.S. financial system and other factors mean the Bitcoin price could one day reach $500,000 per BTC.

“Inflation is coming. Money stored in a bank will get run over. Money invested in assets like real estate or the stock market will keep pace. Money stored in gold or bitcoin will outrun the scourge. And money stored in bitcoin will run the fastest, overtaking gold,” the brothers said in their latest analysis.

It added that “Bitcoin has already made significant ground on gold — going from whitepaper to over [USD] 200 billion in market capitalization in under a decade.

Today, the market capitalization of above ground gold is conservatively [USD] 9 trillion.”

By applying a gold framework to value bitcoin, the twins say that, should BTC continue on this path, the bull case scenario for the cryptocurrency could be that it is currently undervalued by a factor of 45. According to the analysis:

“Said differently, the price of bitcoin could appreciate 45x from where it is today, which means we could see a price of [USD] 500,000 … per bitcoin.”

Furthermore, the forecast says it does not factor in the possibility of BTC displacing a share of the USD 11.7 trillion dollars of fiat foreign exchange reserves that are currently held by governments worldwide.

“Foreshadowing this, at least one publicly-traded US corporation has begun holding bitcoin as a treasury reserve asset.

If central banks start to diversify their foreign fiat holdings even partially into bitcoin, say 10%, then 45x gets revised upward towards 55x or [USD] 600,000 per bitcoin, and so forth,” the brothers said.

Winklevoss Capital has bought shares in a number of companies from the blockchain industry, including digital wealth management solution BlockFi, and micropayment infrastructure provider ChangeCoin.

The home office also invests in cryptocurrencies, including BTC and Zcash (ZEC), according to data from the firm.

In other trending Bitcoin News today:

3 reasons why Yearn.finance YFI price just hit a new high of $18K!

YFI, the native token of the Decentralized Finance (DeFi) giant yearn.finance, achieved a new all-time high. It soared by 30% in the last 12 hours from $14,017 to $18,169, entering price discovery.

The term price discovery refers to when an asset hits a new record high and markets seek a new peak. YFI entered price discovery for the first time in 8 days, after achieving its previous peak at $16,666.

Three factors likely triggered the rally of YFI to a new all-time high: a potentially new partnership, a listing on Aave, and strong technicals.

On Aug. 28, the money market protocol Aave (LEND) listed YFI. Aave is the largest DeFi protocol in the global market with more than $1.52 billion in total value locked.

As Cointelegraph previously reported, Aave received approval from the U.K. Financial Conduct Authority, which further secured the dominance of Aave over the DeFi market. Jordan Lazaro Gustave, the COO of Aave, told Cointelegraph:

“Aave will also be making credit delegation possible, where party A can delegate their credit line to party B, who can borrow against it. This will all be made possible by a legal agreement via OpenLaw. For example, a credit delegator could be a party that wants to build up more credit, and a borrower could be a business, NGO, government, institution, etc.”

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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:

Prepare to be patient in #Bitcoin. Each up cycle takes longer to play out and is less extreme as absolute dollar value gets much larger.May or may not be another 6-12 months before price breaks up. Should not matter as end price point obscenely higher.

Hodlers rejoice. pic.twitter.com/IH7izyxXvm

— Dan Tapiero (@DTAPCAP) August 28, 2020

Friday Fun: modeling #bitcoin price with central bank balance sheets (FED+ECB). 90% R2. Recent QE fueled explosion of FED and ECB balance sheets to $7T and $6.4T implies a BTC price of … $20M💥💥💥 pic.twitter.com/WPS8Ft9B2r

— PlanB (@100trillionUSD) August 28, 2020

The Case for $500K Bitcoin

https://cointelegraph.com/news/traders-say-bitcoin-now-faces-2-main-scenarios-16k-or-96k-heres-why

https://cointelegraph.com/news/3-reasons-why-yearnfinance-yfi-price-just-hit-a-new-high-of-18k

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

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

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Will the Bitcoin price triple this year to $40,000?

According to Fundstrat Global advisor founder Tom Lee, BTC will break into a new ATH this year that could be around $27,000-$30,000.

Additionally, just two weeks ago, we broke above the 200-day moving average, which means we are back in a bull market.

Historically, on average, this breakout has resulted in six months gains of about 190%.

However, this time Thomas Lee believes the Dow Jones Industrial Average would be the first one to break the 30,000, though Bitcoin (BTC) would be the one to hit $40,000, he said.

“Best evidence that Bitcoin is in a bull market is the denial by those with no exposure… BTFD“

Bitcoin Price Hits $10,500 as Fed Chairman Confirms Crypto Is a Threat to U.S. Dollar The BTC price and the overall crypto market reacted positively after Fed Chairman Jerome Powell recently stressed on the importance of private crypto-based transactions.

He said that the Fed is working on a number of projects for digital currencies. Bitcoin price surged over 5% on Tuesday, February 11th, pushing it to a five-month high above $10,500 levels.

With this move, BTC has surged nearly 50% since the beginning of 2020. This latest price surge comes after the Federal Reserve chairman Jerome Powell expressed his interest in digital currencies.

Congressman Bill Foster raised concerns about China’s aggressive push to the use of digital currencies.

Responding to this, Powell said that the Fed has several projects underway.

This was enough to usher a fresh optimism in the crypto market.

Apart from Bitcoin, a majority of the top-ten cryptocurrencies are showing gains between 5-10%.

The overall cryptocurrency market cap added $20 billion soon after Powell’s comments, taking it to above $300 billion.

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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:

BREAKING: Fed Chairman Jerome Powell just came out in favor of private transactions for digital currencies.He specifically said “A ledger where you know everybody’s payments is not something that would be particularly attractive in the context of the US.”

Game on 🙏🏽

— Pomp 🌪 (@APompliano) February 11, 2020

https://cointelegraph.com/news/bitcoin-price-tackles-104k-level-as-futures-markets-hit-5-month-high

bitcoin-price-hits-10320-fed-crypto-dollar

https://bitcoinexchangeguide.com/bitcoin-price-could-triple-this-year-and-beat-dow-to-40000/