Elon Musk Tesla’s CEO, who claimed that “having bitcoin is less stupid than having cash,” changed the statement on the 20th, saying “Bitcoin prices look expensive”. “Bitcoin is a lot more crap than fiat money,” said Peter Seef, chief strategist at Europacific Capital, on Twitter. On the 2nd, Musk’s CEO poured oil into the bitcoin’bull market’. He called himself a “Bitcoin supporter” and encouraged the uptrend, but he himself showed no idea what the right price was. Bitcoin price exceeded $40,000 on the 6th and moved around $56,000 on the 21st.
It’s impossible to say Musk. Bitcoin’s target price varies widely. The trend of upwardists is ‘100,000 dollars’. The reason is that it is in the spotlight as a’store of value’ to counter inflation. “We expect Bitcoin price to reach $100,000 by the end of the year,” said Anthony Skaramuch, founder of Skybridge Capital, an asset management company in the United States. For that reason, I was told that the dollar supply would increase by 40% from now.
On the 17th, Kathy Wood, CEO of ArcInvest, who has gained popularity with Tesla investment, argued on the 17th that “If all S&P500 companies invest 1% of their cash in bitcoin, it will increase by an additional $40,000 from the current price.” Rick Rider, Chief Investment Officer of Global Bonds (CIO) of Black Rock, the world’s largest asset management company, said at CNBC on the 18th, “Under the assumption that inflation will continue despite the large volatility of Bitcoin, the price will rise as a’value store’. He said.
Since the current heat is nothing but speculation, warnings that it can be adjusted are boring. US Treasury Secretary Janet Yellen said in an interview with CNBC on the 18th that “Bitcoin is a highly speculative asset.” In a report on the 16th, investment strategist Nicholas Panizirzoglu said in a report on the 16th, “the immediate rise in bitcoin prices cannot be sustained.” Bitcoin’s market capitalization has reached 700 billion dollars since September last year, but institutional inflow is only 11 billion dollars. Michael Heartnet Bank of America Chief Investment Strategist diagnosed that “Bitcoin is the’mother of all bubbles’,” as Bitcoin has increased by about 1000% since the beginning of 2019.
Reporter Park Jin-woo [email protected]
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