Bitcoin at the time of writing is at $62,479 up from $16,000 in December of 2022.
Why has Bitcoins price risen so dramatically in such a short amount of time? An event that typically happens every 4 years, for Bitcoin called a halving. The halving cuts the supply of bitcoin in half, effectively doubling the value per coin. The last halving was in 2020 and the next one will be this year. But, there’s something different about this halving.
This halving has the potential to be more dramatic than the first halving of Bitcoin. The most recent halving had increased nearly 8.5 times the value it was on the date of halving. That means getting the value of Bitcoin up pre-halving would be quite lucrative, you’d be looking at potentially obtaining 8.5x the halving price over time. So, let’s say Bitcoin reaches $95k by halving day, on halving day, those coins become worth $190k. But, this time around Bitcoin has had ETFs approved l, country adoption and institutional investor adoption; meaning the value per coin could easily reach in excess of $1million USD per coin by next year.
That means this is the last time, roughly that Bitcoin will soar to unbelievable heights.
Tesla, put 1.5 Billion of company money into Bitcoin, in preparation for the halving; which could turn into almost $30billion in under 24 months.
disclaimer: this is not investment advice
No comments:
Post a Comment