Cathy Wood in an interview came out today and declared that a Bitcoin valuation of around $500,000 might not be such a big stretch after all if institutions start to accumulate - especially with the likely imminent release of Crypto ETF's.
“If institutions around the world were to allocate 5 per cent of their portfolios to bitcoin, that allocation alone … would add roughly US$500,000 to bitcoin’s price today,” she said.
Is Cathy likely to be right - who knows. Will Bitcoin get to 500k a coin - who knows. Is it fun to speculate - probably :)
What do you think? 500k might not be a reality, but it might make 100k perhaps a little more likely than it might have been a few short weeks ago.
Not trading advice! But if it gets to 500k, here is my post for posterity :D Wonder if I will be alive...
That's wishful thinking! and a smart Ponzi scheme... how something that is worth 40k today, tomorrow 25k and the next week 60k be a store of value, a hedge against inflation?! just asking... not to mention the intrinsic value, which is?! oh, yes, and it's tied to fiat currency (dollar, euro, etc.)! ;) next economic crash will show exactly how valuable btc and crypto are! ;)
zAngus
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@marinik, it will be interesting to see if they are indeed a hedge or get slammed along with everything else. I agree with you re being tied to the dollar increases its risk of being pulled down with the rest.
Kushman187
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@marinik,gold seems like its less volatile,but unlike btc it doesn't bounce back as easily,thats BTCs greatest strength in that it is predictably volatile ,BTC is no different in any of those regards to any other typical investment like stocks or gold(long term investors have so far always made money if they hold btc for a few yrs or even months
(these last months proved my point,naysayers like you were saying btc is a pos because it dropped 50% over next 2 mos,but 4 mos later from last ATH here we are & its already pushing new ATH with no top in sight over next few mos.(if you are smart you'd put everything long BTC because taproot upgrade next month will make it skyrocket further, regardless of how important you might think it is,its mega news in btc & BTCs most transformative upgrade in years which will guaranteed cause it to go to a new ATH where its already almost at)(I expect at least 100k before yrs end and likely in November because of Etfs & upgrade alone,a perfect storm)
Time_Out_2021
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btc has no top because fiat has no bottom :) but $500,000 is a fine place to start
Nico.Muselle
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We not only got our bounce, it broke above the mid-cycle highs after 30 weeks, just like it did in 2013 😱
OGwavetrader
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Still bullish?
zAngus
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@OGwavetrader, yep. Its just having a rest from all the effort it made over the last few weeks.
with some other scam wicks like the binance.us one, we could easily fly to 500k or whatever the respectively boner brain likes to desire.
christian_pilz
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I would be extremely careful in case the barkers start promising you will all get rich ... BTC 100k, ... BTC 250k, ... BTC 500k. Or do they just do it to sell you something that they got for very little money? The last 65k retail investors that bought at the ATH are still waiting for break even. Do you think they'll buy again or see that they got off with a bleak eye? The CFTC leverage funds long to short ratio is currently 1:3. But nevertheless the future is unwritten.
and a smart Ponzi scheme...
how something that is worth 40k today, tomorrow 25k and the next week 60k be a store of value, a hedge against inflation?! just asking...
not to mention the intrinsic value, which is?! oh, yes, and it's tied to fiat currency (dollar, euro, etc.)! ;)
next economic crash will show exactly how valuable btc and crypto are! ;)