According to American entrepreneur, venture capitalist, and political activist Peter Thiel, he still holds bitcoin (BTC) but is uncertain about the future value of the cryptocurrency. Peter Thiel Talks Bitcoin: A Holder With Cautious Optimism Peter Thiel, the renowned billionaire and co-founder of Paypal, Palantir Technologies, and Founders Fund, shared his thoughts on bitcoin (BTC) […]
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Digital Scarcity — Billionaire Michael Dell and Michael Saylor Exchange Dialogue on Bitcoin
On June 20, Michael Dell, the Chief Executive Officer of Dell, the American technology company known for developing, selling, repairing, and supporting computers and related products and services, shared his thoughts on bitcoin via the social media platform X. This interaction began with a response from Michael Saylor, the founder of Microstrategy. Dell CEO Michael […]
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Mexican Billionaire Ricardo Salinas Doubles Down on Bitcoin, Advises Using It as Inflation Hedge
Ricardo Salinas, the third wealthiest man in Mexico, has recently doubled down on his proposal to use Bitcoin as a reserve asset. On social media, Salinas defended the role of Bitcoin as an inflation hedge, commenting on a post that presented inflation as a hidden tax on fiat money and advised his followers to purchase […]
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Latam Insights: Mexican Billionaire Ricardo Salinas Recommends Purchasing Bitcoin, Cardano Partners Argentine Province
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Mexican billionaire Ricardo Salinas advises purchasing Bitcoin, Cardano partners with an Argentine province, and Argentina launches a VASP registry. Mexican Billionaire Ricardo Salinas Urges Followers to Buy Bitcoin as Nigerian Naira Falls Under […]
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Mexican Billionaire Says to Buy Bitcoin, Musk vs. Nakamoto, and More — Week in Review
Mexican billionaire Ricardo Salinas Pliego has urged his followers to buy Bitcoin. Elon Musk, currently the world’s wealthiest individual, could be surpassed by Bitcoin’s anonymous creator, Satoshi Nakamoto. In Nigeria, artist Davido faced backlash after allegedly scamming investors by pocketing 4,000 from his meme coin sale. Some Russian companies are resorting to cryptocurrencies like USDT […]
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VC Billionaire Chamath Palihapitiya Explains the $500,000 Bitcoin Case: Countries Will Become Dual Currency
Chamath Palihapitiya, the founder and CEO of Social Capital, a venture capital firm, has explained how bitcoin could reach 0,000 or even higher price levels in the coming months. During a podcast, Chamath clarified that considering the price performance in the previous halving cycles, bitcoin could reach that level pushed by the adoption of countries […]
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Bitcoin Gets Massive $500,000 Price Tag From Billionaire, Here’s Why
Venture capitalist and billionaire investor, Chamath Palihapitiya has predicted that Bitcoin could witness an unprecedented price increase to 0,000. This ambitious forecast hinges on the potential for a bull run following Bitcoin’s fourth halving cycle, which occurred on April 20 2024.
Bitcoin To Surge To 0,000
Palihapitiya has entered a notable discussion regarding the impact of historical halving cycles on Bitcoin’s value. The billionaire investor shared a price analysis illustrating Bitcoin’s performance and trend patterns following each halving event.
According to Palihapitiya, historically, Bitcoin has reached new all-time highs after each halving cycle. He highlighted a correlation between Bitcoin’s halving events from 2012 to 2024, detailing the cryptocurrency’s price actions one month, three months, six months, nine months, 12 months and 18 months post-halving.
Palihapitiya noted that during the first three months after a Bitcoin halving event, investors are usually still reassessing the event and its impact on the crypto market. However, he revealed that from 6 to 18 months post-halving, Bitcoin witnessed an exponential price appreciation, pushing it to new all-time highs.
“Bitcoin price has increased materially following each halving, with the bulk of the returns realized between 12 months and 18 months after the halving event,” Palihapitiya wrote.
He disclosed that 18 months after Bitcoin’s first halving cycle, the cryptocurrency’s price increased by 45X. Following the second halving cycle, Bitcoin rose almost 28X, and after the third halving, it surged nearly 8X.
Based on these halving patterns, Palihapitiya has projected Bitcoin’s future value to reach 0,000 by October 2025, expecting it to follow a similar trend as its previous halving cycles.
BTC Could Replace Gold
In his discussion, Palihapitiya disclosed that by analyzing the average patterns of Bitcoin’s previous halving cycles, the cryptocurrency could potentially surge to a peak of .4 million. He declared that Bitcoin could completely replace gold if it reaches such levels of appreciation, emphasizing its potential to become a digital currency with transactional utility for hard assets.
Based on the averages of the second and third halving cycles, the billionaire investor projects Bitcoin’s price to rise to ,643 six months after its halving event in April, reaching 8,623 in nine months, 2,997 in 12 months and nearly 0,000 in 18 months.
Palihapitiya also disclosed several factors that could contribute to Bitcoin’s rise to 0,000. He stated that the increasing demand for Spot Bitcoin Exchange Traded Funds (ETFs) could have a significant impact on the value of Bitcoin in 2024.
This prediction may hold weight considering Bitcoin saw a consistent price increase at the beginning of the year after the approval of Spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC). The cryptocurrency’s price exceeded ,000 after the launch of Spot Bitcoin ETF, officially marking a new all-time high since 2021.
Billionaire Bitcoin Advocate Michael Saylor Agrees to $40 Million Settlement in Tax Evasion Case
The billionaire Bitcoin advocate Michael Saylor has reportedly agreed to pay million to settle an income tax evasion dispute with the District of Columbia Attorney General. The settlement ended the Attorney General’s lawsuit, in which it accused Saylor of falsely claiming to be a resident of Virginia or Florida to underpay taxes. D.C. Nets […]
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Mexican Billionaire Ricardo Salinas Urges Followers to Buy Bitcoin as Nigerian Naira Falls Under a Satoshi
Ricardo Salinas Pliego, one of the wealthiest billionaires in Mexico, has urged his followers to purchase Bitcoin as a hedge against the devaluation of fiat currencies. Salinas Pliego recommended purchasing bitcoin in response to a social media post reporting on the fall of the value of the Nigerian naira under a satoshi. Mexican Billionaire Ricardo […]
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Billionaire Peter Thiel’s Venture Capital Firm Leads Polymarket’s $45 Million Series B Funding Round
Billionaire Peter Thiel’s Founders Fund recently led the Series B funding round for the crypto-based prediction markets platform, Polymarket, which raised million. The latest round valued Polymarket lower than the billion it had anticipated before the Commodity Futures Trading Commission proposed a ban on events betting contracts. CFTC Seeks to Clamp Down on […]
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