Bitcoin just surged $90,000 reaching a new all-time high, as investors get excited about a crypto-friendly approach from President-elect Donald Trump. However, Andrew Tate, the former kickboxer and controversial figure, believes this is just the start. Tate says the recent rise is small compared to the huge growth Bitcoin could see in the future.
Is a bigger Bitcoin surge on the way?
Tate points to Bitcoin’s deflationary nature as the key to its long-term growth. Unlike traditional fiat currencies, which lose value over time due to inflation, Bitcoin’s supply is fixed. Tate argues that as fiat currencies, like the dollar, continue to depreciate, Bitcoin’s value will keep climbing.
He believes that when people start seeing regular money as “junk,” they will realize that holding Bitcoin is a much smarter choice.
Tate picturized a future where Bitcoin holders won’t feel the need to sell their coins, as nothing else can outperform Bitcoin.
“Prices of everything in the world are going DOWN vs BTC. So why not hold? It’s deflationary. You can’t sell BTC for other investments because they ALL underperform vs BTC.”
The Market Takes Notice
Bitcoin’s rally continues to gain momentum. In just 24 hours, the cryptocurrency saw an 11% surge, pushing its market cap to nearly $1.8 trillion. As more investors pile in, Bitcoin is increasingly being viewed as a solid, long-term investment.
Investors are placing huge bets on Bitcoin’s future growth. Veteran trader Peter Brandt and investment firm Bernstein both predict Bitcoin could soar to $200,000, particularly if pro-crypto regulations are introduced. Some even believe Bitcoin could eventually reach $1 million.
These bullish predictions are rooted in Bitcoin’s limited supply and growing demand, especially as more institutional investors begin to see it as a safer bet compared to traditional fiat currencies.
Big Buying from MicroStrategy
In addition to this bullish outlook, MicroStrategy, the business intelligence firm, recently made a massive purchase of 27,200 BTC worth over $2 billion, bringing its total holdings to nearly 280,000 BTC.
This move has pushed MicroStrategy’s stock value up by 8%, signaling strong institutional faith in Bitcoin’s future.
Not everyone shares the bullish outlook on Bitcoin, though. Peter Schiff, the prominent economist, has voiced concerns over the idea of a U.S. Bitcoin reserve. He worries that too much reliance on Bitcoin could destabilize the dollar, creating significant risks for the economy.
While some view Bitcoin as a safe haven with massive upside potential, others are cautious, questioning its long-term impact on traditional finance.
The digital gold rush has only just begun. Stay tuned for what’s next.
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