[ad_1]
A popular crypto analyst breaks down how a partnership between two financial giants could spark a Bitcoin (BTC) explosion to $773,000.
Last week, US-based cryptocurrency titan Coinbase announced that it has partnered with BlackRock, the world’s largest asset manager, to bring cryptocurrency trading to wealthy clients.
In a new strategy session, the InvestAnswers host tells his 443,000 YouTube subscribers that the partnership could boost Bitcoin’s market cap by at least a trillion dollars.
“If BlackRock puts 0.5% of its assets under management in Bitcoin using my multiplier which is 21x, that would affect the market cap by $1.05 trillion, which would add about $75,000 to its price Bitcoin, taking it to $98,000 and a return on investment (return on investment) from today’s price is 326%. This is very, very possible…
Now if they allocate 1%, which of course will take time to get to that level, that will add about $2.1 trillion to the market cap, $150,000 to the price, and that will drive the future price of Bitcoin to $173,000, which is a 652% gain from here.
If they add 5%, which is what Dan Tapiero says, I think that’s too aggressive. Maybe over time, maybe in the next three to five years, that could be possible. This would take the price of Bitcoin to $773,000 in the next three to five years very easily.”
The crypto strategist’s analysis was inspired by comments from 10T Holdings CEO Dan Tapiero. According to the prominent macro investor, the deal between BlackRock and Coinbase could push Bitcoin above $250,000.
“Chart That Got BlackRock Excited About Coinbase Partnership!
There is no greater macro opportunity for BlackRock than to act to facilitate Bitcoin adoption. [A] A 5% shift in BLK assets is $500 billion, more than BTC is worth today. Catalyst for march to $250,000+ after BTC halving.
BlackRock currently has $10 trillion in assets under management.
I
Don’t Miss a Beat – Sign Up to Receive Crypto Email Alerts Directly to Your Inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: The views expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and transactions are at your own risk and that any losses are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Bryan Vectorartist/Natalia Siiatovskaia
[ad_2]
Source link
