BITCOIN CAN SKYROCKET TO $300K BEFORE CHRISTMAS 2021, SAYS PLANB AS BTC ENTERS ENORMOUS BULL YEAR!!

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Institutional quantitative investor and creator of the Bitcoin stock-to-flow valuation model PlanB says the unique scarcity of BTC is setting up the leading cryptocurrency to surge in 2021.

In a new interview with SALT Talks, PlanB advertises a bullish 2021 ride for Bitcoin. The experienced Dutch analyst hypothesizes that BTC’s value can skyrocket to $300,000 before the end of 2021.

“If you look at the trajectory [of] what we had [the] last 10 years, where it could go to the levels of gold and real estate, then I expect Bitcoin to do another 10x or 20x. So, it will go to well north of $100,000 maybe north of $300,000 before Christmas next year.

And that sounds really bullish. That sounds maybe ridiculous to some people, but we’ve done that three times before. And it’s a very asymmetric return; years of nothing, some big crashes, and then an enormous bull year that I think will happen next year.”

PlanB’s bullish evaluation is in part due to Bitcoin’s scarce nature, citing Bitcoin’s fixed supply and the halving events that decrease the amount of BTC being mined each year.

“It was 25 [Bitcoin] when it started in January 2009 when Satoshi mined the first block with 50 Bitcoins every 10 minutes. So we’re now at 6.25 and that will halve for the next 100 years. So, yeah supply will be taken out. If you want Bitcoin, you will have to convince somebody else to give it up to sell it to you.

And of course, that does something with the price, but fundamentally, from a first principle point of view, scarce assets are worth more than abundant assets. Bitcoin is the first absolute scarce asset. You cannot alter the supply, change the supply even when [its] price rises. You cannot increase the supply because it’s mathematically in the protocol. And that’s very unique.”

PlanB also says he is a “Bitcoin maximalist,” revealing that he believes Bitcoin is poised to win in a winner-takes-all game.

“I think it’s [a] winner takes all game. I think that lot of the confusion there comes from the fact that some people see Bitcoin and other coins as products or companies. You can have multiple products and some products will win, and the other products will lose, or multiple companies can coexist together, which is a very logical view.

But Bitcoin, in my view, is not a company. It’s a protocol… It’s a protocol and of course, you can only have one protocol, especially a money protocol. In my eyes, it doesn’t make sense to have in 2020 and beyond multiple currencies, like we have today, where it’s much more efficient to have one monetary protocol, which is Bitcoin. I’m what they call a maximalist, but I don’t like the term.”

In other trending Bitcoin News today:

“Billionaire Chamath Palihapitiya Says Bitcoin Becoming More Than a Hedge in Era of Massive Monetary Intervention”

Billionaire investor and CEO of Social Capital Chamath Palihapitiya says he’s planning to become more vocal about his support for Bitcoin.

Palihapitiya, who famously bought 1 million BTC back in 2013, says in a recent interview with Bullish that his interest in the space is being reignited.

“I’ve tried to temper [my excitement]. I do think that I’m going to become a little bit more vocal around my support of it.

I was an early owner. I’ve owned it for a very long time. I think my dollar cost average is $120, something like that. My first purchase was $80. I stopped purchasing at $130.”

“I think it’s a hedge. I’ve always viewed it as sort of schmuck insurance against exactly this orthodoxy that you just talked about. But I think in other countries it’s more than a hedge. I think it’s becoming a principal mechanism of value, storage, and exchange.

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Show Notes / News Resources:
– $300K Bitcoin Prediction: https://bit.ly/38685Mu
– Bitcoin Technical Analysis: https://bit.ly/2K0V0w0
– BTC Billionaire Chamath: https://bit.ly/3oOJlPD

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky and so is investing into Cryptocurrency. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

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