Tue Nov 12, 2024 ▪ 5 min reading ▪ by Nicolas T.
Bitcoin is flirting with $90,000, up 27% since Donald Trump‘s victory. Small investors should not delay any longer.
$100,000 in sight
Bitcoin is up 108% since the start of the year, compared to 27% for gold which seems on the verge of a turnaround…
With more than 1 730 billion dollars, bitcoin now weighs as much as silver (the metal). However, this is less than the 17.5 trillion that all the gold in the world represents.
Anecdotally, note that one bitcoin is now worth more than a kilogram of gold. Here are the next steps to take before surpassing the Barbarian Relic:
- $181,000 per BTC to overtake Nvidia.
- $179,000 per BTC to overtake Apple.
- $900,000 per BTC to overtake gold.
Truth be told, there’s a good chance we’ll outperform gold well before we hit $900,000. Many people will swap their yellow metal for bitcoins. The explanation lies in the simple fact that several thousand tons of gold are extracted each year even though there are only 21 million BTC…
Boomers will probably remain attached to it, but not new generations. The following chart shows the yawning gap between Gold ETFs and Bitcoin ETFs:
Bitcoin ETFs (adding the Grayscale trust) weigh more than 84 billion dollars, or already 2/3 of the Gold ETFs which have existed since 2004…
Bitcoin ETFs have attracted more than 27 billion dollars since January. Standard Chartered bank even expects us to reach 100 billion by the end of the year.
The big names in Finance no longer hesitate to bring together their clients. The giant Berstein fund advised them this week to invest “as quickly as possible”. “We’ll keep it simple, don’t get in his way [bitcoin] »we can read in a note intended for its customers.
Where are the “Retails”?
More than 70% of bitcoin ETF clients are individuals (“retail”), and not institutions such as investment funds. The popular enthusiasm is obvious. According to BlackRock, bitcoin is being adopted even faster than the internet and smartphones.
However, it is not small investors who are behind the recent bull rally. The dead calm that reigns on the side of transaction fees reveals that they are big fish to maneuver.
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It is not impossible that the historic candle of this Monday, November 11 (+ 8 000 $) or the act of a State. This would not be surprising given that the United States will soon create a “strategic bitcoin reserve”.
All that being said, the masses seem to be waking up. This is what the trend in Google searches for the word “bitcoin” suggests, as well as the notable increase in downloads of applications that allow you to purchase it.
There will be a before and after the election of Donald Trump. After years of bad publicity and slander of all kinds, bitcoin will finally be perceived as legitimate in the eyes of the general public.
A technological breakthrough cannot be swept under the rug. Bitcoin is an absolute store of value that every individual, business and country will eventually hold in reserve. Here are the top 4 promises of the Trump presidency.
Nicolas T.
Reporting on Bitcoin, “the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy”.
