Renowned stock picker believes Bitcoin will eclipse gold’s $10T market cap
It seems $600,000 a coin is the minimum target for analysts over at Ark Invest, who believe Bitcoin will match and then surpass the market capitalization of gold. Ark Invest believes Bitcoin’s (BTC) market capitalization will one day “comfortably eclipse” that of gold, and exceed $10 trillion, reports the London Times. Headed up by veteran stock picker Cathie Wood, analysts at Ark believe Bitcoin’s $1 trillion value is set to rise tenfold in the coming years, as it moves from being a fringe asset to a mainstream financial tool.The value of Bitcoin doubled since January 2021 alone,....
Related News
In this episode of The Van Wirdum Sjorsnado, the hosts discuss Bitcoin Eclipse attacks and potential solutions. The post Video: Bitcoin Eclipse Attacks And How To Solve For Them appeared first on Bitcoin Magazine.
Bitcoin is nearing a psychological tipping point, gold parity. Its price has been accelerating in the past few days, increasing by $100 in just over 24 hours. Meanwhile, gold has fallen by $200 this quarter, currently standing at $1,134.45. Gold’s Price This Quarter. There appears to be a strong inverse correlation between gold and bitcoin from September to now, with bitcoin gaining $300 while gold has lost $200. The reasons for this inverse correlation are not fully clear. Bitcoin’s Price on Bitstamp. Gold usually performs well in times of uncertainty, as is often the case with bitcoin,....
Galaxy Digital’s billionaire CEO told CNBC he’s shocked at the speed of cryptocurrency adoption. Galaxy Digital CEO Mike Novogratz believes Bitcoin (BTC) is on track to meet or exceed gold’s market capitalization amid a rapid wave of retail and institutional adoption of the digital asset. In an interview with CNBC’s Squawk Box, Novogratz said cryptocurrency “adoption’s happening much faster than I predicted,” adding that “it’s shocking to me how fast people are moving into the system.”Novogratz, who has been involved in Bitcoin since 2013 when the digital currency was valued at around....
Today is a rare full moon called the Super Flower Moon that also happens to coincide with a total lunar eclipse that gives the moon a crimson color. For the most part, this should have no impact on Bitcoin, however, after seeing a moon phase chart its impossible not to notice at least some correlation […]
Cryptocurrencies (abbreviated 'cryptos') have been having a great day - most of their values are up. Out of the top ten cryptos (measured in market cap), Quark is up the most in the last 24 hours with a 73% rise in value, Dogecoin the second most at 58%, followed by Peercoin at 39%. Almost all of the top 11 cryptocurrencies have been on the rise in the past 24 hours. What's causing the sudden spike? There are numerous theories as to why cryptos are on the rise. Some (mainly in the Dogecoin community) jokingly say it's due to the lunar eclipse two nights ago - the eclipse powered the moon,....