JPMorgan CEO Jamie Dimon said he remains skeptical about Bitcoin despite the growing interest of the bank's clients in the crypto asset. Speaking at a summit hosted by the Wall Street Journal, Daimon said he hasn't softened his stance on the first cryptocurrency. He previously compared Bitcoin to tulip rush and was ready to fire any JPMorgan employee caught in cryptocurrency trading.
Billionaire Bill Miller, who has previously spoken out in favor of cryptocurrencies, said that he sees no signs of a "bubble" in Bitcoin and expects the rate of the first cryptocurrency to continue to rise. During an interview on CNBC's "The Exchange", Miller noted that despite the recent rally in BTC and the subsequent pullback, demand for the first cryptocurrency is outstripping supply.
John Danielsson argues that Bitcoin's continued growth will cause serious inequality in society and lead to a dystopian future. An economist at one of London's leading universities said that if Bitcoin and other cryptocurrencies continue to rise in price, inequality in society will increase. Director of the Center for Systemic Risk at the London School of Economics, Jon Danielsson, published a column for the VoxEU Center for Economic and Policy Research titled "What Happens If Bitcoin Succeeds?"
Billionaire and Miller Value Partners founder Bill Miller has once again come out in support of Bitcoin. He also talked about the reasons for buying bonds from MicroStrategy.
In a Q4 2020 report to Miller Value Partners, the founder of the firm said 0.75% of its assets were invested in convertible bonds of MicroStrategy. This company has invested over $ 1 billion in Bitcoin.
Guggenheim Partners' chief investment officer Scott Minerd confirmed his forecast for Bitcoin at $400,000, but warned of a possible correction in BTC.
Scott Minerd noted that the market situation is likely to develop similar to the situation after the Spanish flu in 1918. Then, after the end of the epidemic, the economy began to develop rapidly. Although the epidemic affected the market, it did not affect gold prices.
New US President Joe Biden may appoint former CFTC chairman Gary Gensler, who is well versed in the cryptocurrency industry, as SEC chairman.
US President-elect Joe Biden plans to appoint Gary Gensler as chairman of the US Securities and Exchange Commission (SEC), according to a Reuters publication citing two anonymous sources familiar with the matter. Gensler was chairman of the Commodity Futures Trading Commission (CFTC) from 2009 to 2014.
Major American investor and fund manager Bill Miller spoke again about Bitcoin and said that as the price of BTC rises, the associated risks will decrease.
In an interview on CNBC, Bill Miller commented on the rise of Bitcoin and expressed his attitude towards the first cryptocurrency:
"One of the things that's interesting about Bitcoin is that it gets less risky the higher it goes," Miller told CNBC Friday. "That's the opposite of what happens with most stocks."
The Mayor of the American city of Miami, Francis Suarez, said that Bitcoin became one of the most stable investments in an unstable 2020.
According to Scott Minerd, investment director of Guggenheim Partners, fundamental analysis carried out by the firm's specialists speaks of the fair price of Bitcoin at $400,000.
American billionaire and former hedge fund manager Stanley Druckenmiller believes that investing in Bitcoin will be more profitable than investing in gold.
During his speech on CNBC, Druckenmiller noted the stabilization of the cryptocurrency market and the noticeably reduced volatility of the first cryptocurrency. Now, according to Druckenmiller, investing in Bitcoin is not that much different from investing in gold.
MicroStrategy CEO Michael Saylor said his company will not sell BTC for 100 years as Bitcoin is the best way to store value.
In mid-August, MicroStrategy announced the purchase of 21,454 BTC for $ 250 million, becoming the first US public company to invest a significant portion of its reserves in this digital asset. In an interview with Real Vision CEO Raoul Pal, Sailor said the decision to invest the large sum in Bitcoin was made in conjunction with the firm's board of directors, investors, auditor and executives. Sailor clarified that he does not view Bitcoin as a market speculation or hedging tool. The company deliberately acquired this cryptocurrency to gradually introduce Bitcoin into the financial system.
In the monthly issue of the digest on the cryptocurrency market, Bloomberg analyst Mike McGlone said that within 5 years the Bitcoin rate could exceed $ 100,000.
Judging by the document, the logic of the analyst is extremely simple - the Bitcoin rate on long-term charts is constantly growing. In 2011, BTC was worth about $ 10, in 2013, it reached $ 1,000, and it took four years to conquer the $ 10,000 mark in 2017. That is, the growth rate on a logarithmic scale is slowing down and it will take eight years, not four, to conquer the next mark. Considering that three years have already passed, BTC will reach $ 100,000 by 2025.
American entrepreneur and author of the book "The Price of the Future" Jeff Boothhas called Bitcoin a must-have asset for investment in the current financial situation.
Jeff Boothhas writes that even before the COVID-19 pandemic, the combined public debt of all countries in the world was $ 250 trillion, with a total global annual GDP of $ 135 trillion. At the same time, $ 185 trillion of debt has been accumulated over the past 20 years. After the pandemic, the situation got worse.
Michael Sonnenshein, managing director of Grayscale Investments, believes that approving Bitcoin traded exchange traded funds (ETFs) is just a matter of time.
"We think the launch of ETFs on Bitcoin is a matter of time. Regulators have done an excellent job, they are trying to stay on the cutting edge of the development of digital assets as a class," said Sonnenshein in an interview with Anthony Pompliano, founder of Morgan Creek Digital.
According to the latest report from the Kraken cryptocurrency exchange, a 31% drop in Bitcoin trading in June led to BTC's annual volatility reaching a six-month low.
According to Kraken in its report, June was the most unremarkable month on the Bitcoin trading market since February. The lack of activity on the market led to a decrease in trading volume on the exchange to a four-month low of $ 36.6 billion.
According to the latest report from the Kraken cryptocurrency exchange, a 31% drop in Bitcoin trading in June led to BTC's annual volatility reaching a six-month low.
According to Kraken in its report, June was the most unremarkable month on the Bitcoin trading market since February. The lack of activity on the market led to a decrease in trading volume on the exchange to a four-month low of $ 36.6 billion.
American economist and trader Nassim Taleb wrote that Bitcoin is a good idea, but most cryptocurrency users do not understand the nuances of its work.
Nassim Taleb participated in a discussion on Twitter with the "Bitcoin maximalist" Giacomo Zucco. Zucco questioned Taleb's views on the imposition of central planning by bureaucrats and politicians, since they have no "personal interest in the success" of this strategy.
The share of inactive Bitcoins exceeded 60%. The largest increase in the number of inactive BTC since the beginning of the year is observed among coins purchased 10 years and 2-3 years ago.
According to Glassnode, 60.63% of all BTCs did not move for more than a year. These data indicate the consolidation of BTC ownership and that investors who bought cryptocurrency at the lowest prices in 2018 have not yet begun to profit from their investments. More than four years have passed since such a large percentage of outstanding BTC did not move for more than a year.
