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Bitwise CIO: Bitcoin will reach $500K if it enters US reserves
Amid speculation about Bitcoin reserves in the United States, Matt Hougan, CIO of Bitwise, speculates that Bitcoin will rise between $300,000 and $500,000 if the US government establishes a strategic reserve for the asset. According to the CIO, this is too big a story and if governments started to follow suit, the flagship Cryptocurrency could experience a supply shock.
🇺🇸 US Strategic Reserve could push Bitcoin to $500K because it would force governments all around the world to buy Bitcoin, and we will see a “rip UP” that will make 2024 look docile – Bitwise CIO 🔥 pic.twitter.com/o6CBOaDTpo
—Bitcoin Archive (@BTC_Archive) December 17, 2024
Specifically, he indicated: «If we manage to create a strategic reserve of Bitcoins in which the government buys BTC… $200,000 will not seem very attractive. There will be Bitcoin of 300,000, 400,000 or 500,000 dollars. “It’s too important a story, because governments around the world will have to do it.”
Kiyosaki predicts Bitcoin will reach $350K in 2025
Rich Dad Poor Dad author Robert Kiyosaki has urged investors to buy Bitcoin, saying the cryptocurrency will reach $350,000 by 2025. Kiyosaki has urged that, given the democratic nature of Bitcoin, people should buy even a satoshi to profit when the price hits the sky.
TRUMP 1st BITCOIN PRESIDENT
BITCOIN to $350k in 2025
OWN more BITCOIN in 2025
— Robert Kiyosaki (@theRealKiyosaki) December 18, 2024
Interestingly, a Bitcoin user created a poll to find out if other Kiyosaki followers believe that the flagship cryptocurrency will indeed reach $350,000 next year. Although only a handful of X users responded to the survey, most respondents are skeptical of the sky-high price target.
Ohio Representative Proposes Law for Bitcoin Reserves
An Ohio legislator, Derek Merrin, proposes a pioneering law to establish a strategic reserve of Bitcoin in the State Treasury. This initiative seeks to revolutionize the management of the State’s financial reserves by integrating Bitcoin into its economic strategy.
Specifically, Merrin proposes the creation of a Bitcoin reserve fund within the State Treasury. This fund would allow the Ohio Treasurer to invest a portion of the State’s interim funds in Bitcoin. The goal is clear: protect public finances from monetary erosion while positioning Ohio at the forefront of financial innovation.
For Merrin, Bitcoin represents an essential solution: “As the US dollar loses its value, Bitcoin offers a way to diversify our State’s portfolio and preserve public funds against depreciation.”
Semler Scientific acquired Bitcoin for $21.5 million this Monday
Between December 5 and 15, Semler Scientific acquired 211 Bitcoins for $21.5 million with the proceeds generated from its ATM offering. According to the company’s chairman of the board of directors, Eric Semler, the average price of this purchase was $101,890 per token.
Semler Scientific has acquired 211 BTC for ~$21.5 million at ~$101,890 per #bitcoin and has generated BTC Yield of 67.0% QTD and 92.8% since adopting our BTC treasury strategy in May. As of 12/15/24, we held 2,084 $BTC acquired for ~$168.6 million at ~$80,916 per bitcoin. $SMLR
— Eric Semler (@SemlerEric) December 16, 2024
Semler Scientific’s total Bitcoin holdings now stand at 2,084 Bitcoin, acquired for a total of $168.6 million, averaging $80,916 per Bitcoin, including fees and expenses.
Bitcoin will be hacked in a few years, says millionaire Chamath Palihapitiya
Chamath Palihapitiya, born September 3, 1976, a venture capital investor, founder and CEO of Social Capital. He was an early executive at Facebook, where he worked from 2007 to 2011. He is also a minority owner and board member of the Golden State Warriors.
Now, during an interview on the All-In podcast, the millionaire expressed that Bitcoin will be hacked in a few years. Considering that in 2-5 years, the largest cryptocurrency as currently known will not withstand quantum computing. However, he emphasizes that just because Bitcoin will be hacked in its current form, it does not mean that it will disappear.
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I say goodbye with this phrase from Elon Musk: «Bitcoin is almost as brilliant as physical money. “It is the first currency that has a real chance of becoming a global currency.”
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