Tag - Bitcoin

Bitcoin to rise to $100,000 in 2022 – says El Salvador’s President Nayib Bukele

The president of El Salvador, Nayib Bukele, has made six Bitcoin predictions for the new year via Twitter. The steepest thesis is likely to be that bitcoin will reach a price of 100,000 US dollars.

Nayib Bukele calls himself the CEO of El Salvador and acts like it. Cap backwards and pithy sayings are his thing. On New Year’s Sunday, he let his 3.2 million Twitter followers know what the new year would bring for bitcoin and El Salvador’s bitcoin ambitions. We take a look at them one by one.

Bukele expects bitcoin to reach a price target of $100,000 in 2022. Some other analysts have a similar view. However, it is also a fact that the world’s most important cryptocoin is currently trading at less than half of this value and even horror scenarios are circulating.

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SkyBridge Capital has filed for a Bitcoin exchange-traded fund

 

SkyBridge Capital has filed for a Bitcoin exchange-traded fund, or ETF, with the United States Securities and Exchange Commission (SEC).

SkyBridge Capital, a New York-based investment firm, filed for the right to launch a Bitcoin exchange-traded fund or ETF. The firm filed its application with the United States Securities and Exchange Commission (SEC) on March 19.

Skybridge Capital and its founder Anthony Scaramucci are very interested in Bitcoin, and the interest has increased even more after the successful launch of the Skybridge Capital Bitcoin Fund company. In late February, Scaramucci said that he expects a bitcoin price of 100K this year in an interview.

The documents say the First Trust SkyBridge Bitcoin ETF will seek to list its shares on the New York Stock Exchange Arca. A ticker symbol has not yet been announced for the fund.

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In 2021 the number of Bitcoin ATMs in the world grew by more than 20%

Since the beginning of the year, the number of installed Bitcoin ATMs has increased by 21.8%, according to the Coin ATM Radar service. As of this writing, the number of devices has reached 16,974, and on Jan. 1, 2021, there were 13,928.

New Bitcoin ATMs are now being installed at a rate of more than 36 units per day.

Also, in recent months, the ratio of running units to disconnected units has noticeably increased.

The vast majority of working devices are in the U.S. – 14,388, or 84.7% of the world’s total. Canada has 1,315 (7.7%) bitcoin-ATMs installed, which is more than in all of Europe.

Among device manufacturers, Genesis Coin and General Bytes dominate, with market shares of 38.6% and 27.5%, respectively.

The top 10 operators manage more than half of the bitcoin-ATMs in operation (60.3%). The top three – CoinFlip, Bitcoin Depot, and CoinCloud – have about 10% of the total.

Institutional bitcoin holders will increase investments in cryptocurrencies

A survey by crypto fund Nickel Digital found that 40% of institutional investors and asset managers who own cryptocurrencies bought bitcoin to protect against inflation.

According to the survey, more than 85% of digital asset owners plan to increase their cryptocurrency investments over the next two years. 56% expect bitcoin to grow slightly, while 21% expect the asset to rise further in 2021.

The survey included 50 institutional investors and 50 asset managers totaling $110 billion from Germany, Switzerland, the United Kingdom, and the United States in January 2021.

Recall that according to a recent survey of U.S. residents, retail investors have more faith in Cardano than bitcoin. The altcoin was supported by 31.8% of respondents versus 22.2% for digital gold.

Earlier, a Goldman Sachs survey showed that 40% of the bank’s clients own cryptocurrency. Of those, more than 60% expect assets to grow over the next 12-24 months.

MicroStrategy buys another 328 BTC

Michael Saylor’s firm made a new purchase of BTC for USD 15 million.

MicroStrategy continues to accumulate BTC. The firm led by Michael Saylor made this Monday a new bitcoin purchase worth USD 15 million equivalent to 328 BTC. In this way, the company brings the total accumulated bitcoin to 90,859 BTC.

This new investment by the business intelligence company comes less than a week after the purchase of 19,452 BTC worth nearly USD 1.026 million, a significantly larger sum than the one made at the beginning of March.

The company’s CEO, Michael Saylor, announced the news on his Twitter account.

Five days ago, the CEO explained that his company “remains focused on two corporate strategies: growing the business analytics software business, and acquiring and accumulating bitcoin”. This new investment confirms the path MicroStrategy is taking.

Regarding the latest purchase, made at an average price of USD 45,710 per BTC, the company officially started its “belief that bitcoin, as the world’s most widely adopted cryptocurrency, can serve as a reliable store of value.”

To date, MicroStrategy has accumulated 90,859 BTC with an average purchase price of USD 24,063. That amount of BTC, today is worth around USD 4.38 billion. Considering that MicroStrategy invested approximately USD 2.186 billion, the company already has a profit of USD 2 billion.