The crypto world is on the move, and leading experts are paying attention. Why does a top Fidelity executive call Bitcoin “exponential gold”? And what does Matrixport predict for the near future of Bitcoin? There are developments and some predictions that could be of utmost importance to investors. Stay tuned to learn the key insights that influence the price of Bitcoin. It’s time to get informed.
Explosive statements from Fidelity: Bitcoin as “exponential gold”
Bitcoin is on the move again (following the pattern of previous boom-bust cycles, so far). What to make of it? Let’s revisit my thesis from late 2020:
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— Jurrien Timmer (@TimmerFidelity) November 1, 2023
A Fidelity Investments executive, Jurrien Timmer, has called Bitcoin “exponential gold,” underscoring his view that the Cryptocurrency has the potential to surpass the value of gold in certain economic situations.
The view that sees Bitcoin as “exponential gold” emphasizes that the cryptocurrency is not just digital money, but also as could serve as a possible protective asset in economically turbulent times.
This perspective is attractive Parallels to times like the 1970s and 2000s, in which gold proved to be a robust investment. This implies that Bitcoin could meet or even exceed gold’s historical performance in terms of value retention.
Timmer’s expertise, backed by nearly three decades at Fidelity, informs his bullish stance on Bitcoin. His 2021 forecast predicted that the market price of Bitcoin (BTC) could rise to $100,000 by 2023a significant jump from the current price of about $34,883.
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MicroStrategy follows up: Acquired another 155 Bitcoins in October – expect 10x
The technology company MicroStrategy has in its Third quarter earnings report announced that it acquired 155 additional Bitcoins in October. This brings the company’s total Bitcoin acquisition since the start of Q3 2022 to 6,607 Bitcoins. Well MicroStrategy owns a total of 158,400 BT.
With Bitcoin prices well below record highs, MicroStrategy appears to be taking advantage of lower prices to buy and hold for the long term. Because Michael Saylor sees BTC as superior to fiat currencies, especially due to inflation concerns.
Likewise, in a recent CNBC interview reiterated its bullish stance on Bitcoin. While his Support for cryptocurrency is no surprisehe highlighted some specific short- to medium-term catalysts for Bitcoin’s rise.
First, Saylor pointed to one impending significant reduction in supply which is accompanied by increasing demand. Bitcoin miners need to sell Bitcoin to maintain their businesses.
These sales currently amount to about $1 billion per month. With the expected Halving in April 2024 However, miners will only have half of this amount to sell. He also added, Spot Bitcoin ETFs will generate increased buying pressure.
He also emphasized the imminent introduction of new rules for the fair valuation of Bitcoin holdings in company balance sheets. Saylor is convinced that this is in the long term will encourage companies to adopt Bitcoin as a treasury asset and thus increase shareholder value through their balance sheets.
Michael Saylor also spoke in a conference call positive about the findings about increasing regulatory clarity in the crypto industry. He believes this offers more security to institutional investors. Saylor predicted positive regulatory initiatives within a year.
For the industry’s next step in development, Saylor said, we must undergo serious oversight and us move away from the 100,000 crypto tokens and towards Bitcoin, as this does not destroy shareholder value and 10x is possible.
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BitMEX co-founder Arthur Hayes predicts massive Bitcoin rise
Amid the current crypto market rally, BitMEX co-founder Arthur Hayes has made a bullish prediction. He believes a significant Bitcoin rally to $750,000 is imminent by 2026, especially given the recent change in stance by the Federal Reserve.
The Fed recently decided to… to leave interest rates unchangedbut is considering a rate hike in December. Nevertheless, inflation remains highwith the Fed’s preferred measure of inflation, the Annual core PCE, at 3.7%, well above the 2% target.
Hayes suggests that it is at the It’s time to focus on Bitcoin and other cryptocurrencies instead of traditional investments like government bonds. He believes that while the Fed pauses, other central banks, such as those in China, Europe and Japan, are likely to introduce significant stimulus measures. This is because the Fed is taking a more cautious approach while other banks may choose to create money more aggressively.
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Matrixport Forecast: Bitcoin Could Reach $56,000 by Year End!
A report from Matrixport suggests that Bitcoin will continue the upward trend observed in recent months and could rise to $56,000 by December 31st. According to Matrixport, Bitcoin historically moves according to Sir Isaac Newton’s third law of motion, according to which “a bull market tends to stay moving unless influenced by an outside force.”
According to Markus Thielen, head of research at Matrixport, would A rise in Bitcoin of at least 100% by this time of year suggests the cryptocurrency could end the year at higher levels with an average year-end gain of 60-65%.
This assessment is based on a model formed according to Sir Isaac Newton’s third law of motion and a Has a probability of 71% for such a scenario. In particular, Bitcoin could, since he historically tends to peak on December 18thcontinue its rise from early November to mid-December over a period of six to seven weeks, which indicates a possible “Santa Claus Rally” until December 18th.
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Analysts see extraordinary potential in Bitcoin Minetrix
In the crypto space the novel decentralization solution for Bitcoin attracted the attention of many analysts, crypto websites and investors and achieved high sales figures within a very short period of time and a financing amount of more than 3.16 million US dollars.
With his The innovative stake-to-mine process and the associated tokenization of crypto mining are intended to eliminate entry hurdles for small investors and achieve greater decentralization.
This means that Bitcoin should no longer only be largely secured by the large financial elites such as BlackRock. But also Even during the pre-sale offer, investors can already achieve staking returns of currently 185% per year. In addition, mining projects act like a Leverage on Bitcoin.
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About the author: Simon Feldhusen came into contact with the stock market for the first time 17 years ago and has been intensively involved in the topics of trading, cryptoassets, stocks, P2P, corporate finance, finance and entrepreneurship on a daily basis for more than 8 years. He has also been working as a copywriter and ghostwriter in the financial sector for several years. During this time he has acquired a diversified knowledge through various training courses on the financial markets and following daily news. Since then, not a day goes by without him dealing with the markets. He publishes, among others, for Finanz.net, ETF-Nachrichten.de, Coincierge.de, P2E News.com, Ariva.de and News.de.