Around midnight on Sunday, the price of Bitcoin broke the $ 50,000 mark, the highest price seen since the Bitcoin correction in May. After the fall, the price of Bitcoin ranged from 30-40k for most of the summer.
While it is impossible to say for sure, many predict that the price will appreciate significantly from here to close the year. Recall that today just a year ago, the price of Bitcoin was around $ 11,650.
In 2017, the price of Bitcoin went from about $ 10,000 to $ 20,000 in eighteen days, reaching an all-time high. On Monday, investor Anthony Pompliano said CNBC, “I wouldn’t be surprised to see something crazy like this happen before the end of the year.”
Here’s a review of the increasingly bullish news of the last month that led to this exciting pricing milestone:
- Your $ 1,200 stimulus check would be worth around $ 8,765 today if you bought Bitcoin with it in April 2020.
- On Thursday, it was discovered that in June, Blackrock, the world’s largest asset manager, spent more than $ 382 million on shares of Marathon Digital Holdings & Riot Blockchain, becoming the second largest investor of both. .
- Coinbase announced on Thursday that it has updated its investment policy to include a quarterly allocation of 10% of revenue to Bitcoin and other cryptocurrencies and has also pledged to invest $ 500 million of its $ 4 billion in reservations in Bitcoin and cryptography.
- Banking giants Wells Fargo and JPMorgan solicited passive Bitcoin funds for their wealthy customers.
- Investor and famed fund manager Bill Miller, who won the market, said he has been buying Bitcoin since it only cost $ 200.
- Galaxy Digital was filed with the SEC for a fund traded for Bitcoin exchange under the Investment Company Act of 1940.
- Walmart hires a “digital currency and cryptocurrency product leader.”
- Private investment firm Neuberger Berman is adding Bitcoin futures to its $ 161 million Commodity Strategy fund.
- Jordan Peterson launches a podcast episode about Bitcoin, becoming the last public intellectual to share his thoughts.
- Global investment manager VanEck presented for the second time to the SEC a traded futures fund with Bitcoin strategy.
- Nevada-based Black Rock Petroleum Company signed an agreement with Optimum Mining Host to deploy and operate up to one million Bitcoin mining machines.
- The U.S. Senate rejected a bipartisan amendment with the goal of clarifying the necessary tax information provisions for brokers that support the Bitcoin economy.
- This month’s “Bloomberg Crypto Outlook” reports on a bullish future trajectory for Bitcoin, stating that “we see performance parallels that could put benchmark cryptography on track to hit $ 100,000.”
- One of North America’s largest bitcoin mining companies, Marathon Digital Holdings, Inc., announced it will buy an additional 30,000 professional Antminer S19Js for $ 120.7 million.
- In a new letter from shareholders, payment giant Square revealed that customers bought bitcoin for $ 2.72 million in Q2 this year.
Bitcoin has increased by about 120% annually on average over the last ten years. Last year we had an annual yield of 250%.
With a long look to the future, venture capitalist Alyse Killeen predicted Monday in an interview with Business Insider that, “In three or four years, most people will have access to Bitcoin through revenue.”
On Friday, in typical eloquent bullish fashion, MicroStrategy CEO Michael Saylor spoke about Blockchain interviews podcast: “Bitcoin is one of the most, if not the most disruptive technologies of the decade, and it is disrupting the energy industry, disrupting the investment community, disrupting the technology community. That means it is disrupting politics and the economy in general. “It’s altering the definition of property and property rights. In that way, it’s getting people’s attention, it’s progressive and it’s focusing on people. So I think it’s been great for morale.”
Permabull Saylor continued, “Bitcoin is a 10-year successful system test system, in the same way that you only have two things in the blockchain that have been considered Bitcoin property or merchandise. theory, there are only two, but there is only one that has a consistent strategy for the next decade and a consistent path for the last decade.And that’s Bitcoin, right? So I think it’s pretty it’s important to understand that Bitcoin is pretty much the most predictable of the entire blockchain universe, everything else is uncertain. ”
Bitcoiners are likely to continue to do what they have done, which is hodl, and continue on course as we prepare for new all-time highs.