Tag: bitcoin (btc) adoption

Oct 25 2020

Bitcoin (BTC) Held By Private & Publicly Traded Companies Hits $10.2B

Summary: 785,999 Bitcoin is held by private and publicly traded companies This translates to roughly $10.2 Billion using Bitcoin's current value at $13k Of this amount, 610,302 Bitcoin is held by publicly traded companies and 175,697 BTC by private companies BitcoinTreasuries.org is a website dedicated to tracking the amount of Bitcoin owned by notable companies, both private and publicly owned Ever since Square...

Oct 22 2020

Bitcoin’s (BTC) Chances of Hitting $20k by End of 2020 Increases by 2%

Summary: The chance of Bitcoin hitting $20k or higher by the end of the year currently stands at 7% This is a 2% increment from the 5% probability witnessed back in late June Bitcoin's open interest on major exchanges such as Binance has seen a significant increment in the last 48 hours Bitcoin bull run is finally here with Paul Tudor Jones stating...

Bitcoin (BTC) Seems to be Decoupling from Stocks – Weiss Ratings

Quick take: The team at Weiss Crypto Ratings has pointed out that Bitcoin seems to be decoupling from the stock market This comes after Bitcoin broke both $12k and $13k in quick succession as the stock markets were stagnant The comments by Weiss echo those of Veteran BTC analyst, Willy Woo, who was of the same opinion back in September Bitcoin can very...

Oct 21 2020

PayPal & Paxos Partner to Bring Bitcoin & Crypto to 346M Users

Quick take: Paypal's US customers can now buy, sell and hold Bitcoin and other cryptocurrencies PayPal's 346 Million global customers will soon have access to similar services The move was made possible through a partnership with Paxos The latter company has built the platform that will power PayPal's cryptocurrency service Mike Novogratz of Galaxy Digital has called the Paypal news 'as the biggest...

Bitcoin Addresses in Profit hit new ATH of 30.4M as BTC Reclaims $12k

Summary: Bitcoin has comfortably broken the $12k ceiling With this move, BTC addresses in profit have hit a new all-time high of 30.4 Million It is still too early to comfortably declare that $12k is a new support zone for Bitcoin Timothy Peterson had forecasted that by November 30th, Bitcoin will be at $12k or above $12k could very well be a new...

Oct 20 2020

Bitcoin is a Scarce Asset That Should be Owned – MicroStrategy CEO

Summary: MicroStrategy CEO, Michael Saylor, has categorized Bitcoin as an asset and not a commodity He explains that commodities are abundant and should be traded Additionally, assets such as Bitcoin are scarce and should be owned His comments were as a result of Mr. Saylor pledging to convince the CEO of Hedeye, Keith McCullough, to reconsider his decision to sell all his Bitcoin...

Oct 13 2020

Crypto Analyst: 90% Chance Bitcoin (BTC) Never Closes Below $11k

Quick take: Timothy Peterson of Cane Island Alternative Advisors has given Bitcoin a 90% chance at staying above $11k Bitcoin's lowest price forward is $11,004 using Metcalfe's law Mr. Peterson has used Metcalfe's law to correctly forecast Bitcoin's price movement since 2018 He has predicted that Bitcoin will be valued at $12k by November 30th, 2020 In an October 11th Twitter thread, Crypto...

Oct 11 2020

MicroStrategy CEO: BTC Works if your Investment Time Horizon is 100yrs

Summary: MicroStrategy CEO, Michael Saylor, has pointed out that Bitcoin is a worthwhile investment for anyone playing the long game He pointed out that any asset can work if your investment time horizon is one year But Bitcoin works if your investment time horizon is one century In a recent tweet, the CEO of MicroStrategy, Michael Sayler, explained that Bitcoin was a long-duration...

Tron (TRX) is now Home to 3,000 Wrapped Bitcoin (BTC)

Quick take: There are now 3,000 Bitcoin (BTC) on the Tron blockchain BTCTRON is a type of wrapped Bitcoin on the TRON blockchain Bitcoin on the Tron blockchain is beneficial to yield farmers or those who want the value of BTC plus the efficiencies of Tron Tron founder and CEO, Justin Sun, recently shared a new milestone on the TRON blockchain in the...

Oct 10 2020

BTC Analyst: Square, MicroStrategy Buying BTC is a Tip of the Iceberg

Summary: Veteran Bitcoin analyst, Willy Woo, has stated that Square and MicroStrategy buying Bitcoin is a tip of the Iceberg He explains that the last 8 months has seen a reduction of 250,000 BTC from exchanges This reduction could be 'unannounced' investors including high net worth individuals buying up Bitcoin 'Whales like to swim together' therefore Square and MicroStrategy are not the only...

Oct 09 2020

Report: Bitcoin (BTC) is On Track towards $100,000 in 2025

Quick take: Bloomberg has released October's crypto outlook report The report predicts that Bitcoin is on track for $100,000 in 2025 Bitcoin will continue appreciating in value as a result of increased adoption, but at a relatively lower pace when compared to its early years Bitcoin could very well retest its 2019 peak of $14k before the end of 2020 The team at...

Oct 08 2020

Bitcoin Addresses Holding 0.1 BTC or more Hit New ATH of 3,148,331

Quick take: The number of Bitcoin addresses holding 0.1 BTC or more has hit a new all-time high of 3,148,331 Bitcoin's hash-rate has also hit a new all-time high of 170EH/s Bitcoin has exceeded 72 days above the $10k psychological price level Bitcoin's fundamentals continue to be strong and a move up to $11k is likely The number of Bitcoin addresses holding 0.1...

Oct 07 2020

BTC Analyst: Bitcoin’s Fundamentals are in Moon Mode

Quick take: Willy Woo has pointed out that Bitcoin's fundamentals 'are in moon mode' On-chain data and metrics from infrastructure players hint that Bitcoin is on a path to a profitable Q4, 2020 Bitcoin's bullishness will spill over into 2021 The opportunity to get into Bitcoin now is similar to that in mid-2016 Veteran Bitcoin Analyst, Willy Woo, has shared his most recent...

Sep 29 2020

Bitcoin (BTC) Supply Held for Over 1 Yr Hits Highest Level Since 2010

Quick take: Investors are increasingly holding Bitcoin as a store of value Bitcoin supply held for over 1 year hits its highest level since 2010 at 63.5% Bitcoin has now stayed above $10k for the longest time period at 64 days BTC is facing a monthly close in the next 24 hours The team at Coinmetrics has released their weekly State of the...

Sep 22 2020

Bitcoin’s Price is Correlated with the Launch of BTC Hedge Funds

Quick take: According to a report by PWC, Bitcoin's price is correlated with the number of hedge funds launched in a certain time period 97% of crypto hedge funds prefer to trade Bitcoin (BTC) For the year 2019, Bitcoin's organic price movement outperformed all hedge fund strategies Family offices and high- net-worth individuals are the core investors in crypto hedge funds The price of...

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