The Bitwise CEO is extremely Bullish. It aims at 200,000 dollars for a bitcoin before the end of the year and the million before the end of the decade.
In short
- Public companies accumulated 159,107 BTC in the second quarter, up 23 % from one quarter to the next.
- The Bitwise CEO sees Bitcoin reaching parity with gold before the end of the decade.
Baguette institutional
The adoption of bitcoin by public enterprises has accelerated considerably in the second quarter. They accumulated 159,107 BTC, bringing their assets to 847,000 BTC, or $ 91 billion.
This represents an increase of 23 % from one quarter to another, according to Bitwise. They now hold 4 % of the total offer of 21 million BTC. It is even 5.4 % if we add the 290,000 BTC accumulated by private companies.
These public companies are now 125, an increase of 58 % (46 additional companies). Strategy remains in the lead with 597 325 BTC, followed by marathon with 49,940 BTC and Twenty One (XXI) with 37,230 BTC.
The shopping of all these companies allowed Bitcoin to be the most efficient asset in the second quarter (+30 %). The Bitwise CEO, Matt Hogan, remains extremely optimistic for the future:
1,000 billion dollars open almost every week in Bitcoin. We cross a unique phase during which institutional investors embrace Bitcoin. It can only be accompanied by a significant increase in bitcoin.
Matt Hogan
In other words, we were in the 1970s when gold flew $ 35 to 800 in a decade. “The world is realizing that Bitcoin will be part of our future. The timing to invest cannot be better ”he said At the microphone of Giovanni Incasa.
Speaking of gold, the barbaric relic has been appreciated more than bitcoin since the start of the year (+20 %, against 15 % for the BTC). Gold benefits from geopolitical tensions and the continuous purchase of central banks.
That said, the FOMO begins to seize central banks like that of the Czech Republic. Its governor would like to add bitcoin to the country's exchange reserves.
200,000 dollars for a bitcoin, then 1 million
For Matt Hogan, the downward pressure will soon fade in favor of a large bullish rally:
Many people had to sell $ 100,000. This is where there are the greatest number of sales orders on River. The institutional demand should soon finish swallowing this seller wall and letting us go straight up to the next psychological threshold.
Matt Hogan
Matt Hogan ne “ Don't know exactly where “ This threshold is, but Bitwise officially targets $ 200,000 for this year. According to him, “This cycle should last until the end of the decade and take us on par with gold, just over a million per bitcoin.”
He justified himself by advancing that the United States will certainly strengthen their strategic reserve of Bitcoins. In question, the brics sling against the greenback.
The world turns to new types of reserves. If I was the uncle Sam, I would tell myself that it is better that it is the dollar and the bitcoin rather than the dollar and the yuan.
Matt Hogan
Your servant shares this opinion. Donald Trump has repeated in recent days that he will not allow any nation to delight in the United States the famous “exorbitant privilege”. But he knows that this privilege is a double -edged blade. It will be necessary to let go of ballast to become a manufacturing power.
The American president knows that he will not be able to reindustrialize without a sustainable drop in the dollar. But at the same time, he does not want the BRICS to cause excessive devaluation.
The United States will agree to trade on equal terms, but not the internationalization of the Yuan. A stateless currency like Bitcoin then makes sense. Hence the ambition to accumulate it before everyone else. It is a very intelligent way to cover yourself.
Don't miss our article: Trump: Bitcoin relieves the dollar.
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