A famous cryptocurrency analyst explains how a partnership between two financial giants could trigger Bitcoin (BTC) blast to $773,000.
US-based crypto titan Coinbase last week announced said it has teamed up with BlackRock, the world’s largest asset manager, to bring cryptocurrency trading to wealthy clients.
In a new strategy session, the host of InvestAnswers tells his 443,000 YouTube subscribers that the partnership could increase the market value of Bitcoin by at least a trillion dollars.
“If BlackRock managed 0.5% of their assets into Bitcoin using my 21x multiplier, that would affect $1.05 trillion in market cap, which would add about $75,000 to the price of Bitcoin, bringing it to $98,000 and ROI (return on investment) is 326% of today’s price. It is very, very achievable…
Now if they allocate 1%, which of course will take time to reach this level, it will add about $2.1 trillion to the market cap, $150,000 to the price, and that will take the future price of Bitcoin to $173,000. 652% profit from here.
If they add 5%, as Dan Tapiero said, I think that would be too aggressive. Maybe over time, maybe in the next three to five years, it might be possible. This will take the price of Bitcoin to $773,000 quite easily in the next 3-5 years.”
The cryptocurrency strategist’s analysis was inspired by comments from 10T Holdings CEO Dan Tapiero. A deal between BlackRock and Coinbase could push Bitcoin above $250,000, according to a prominent macro investor.
“The chart that makes BlackRock excited about its partnership with Coinbase!
There is no bigger macro opportunity for BlackRock than to move to facilitate Bitcoin adoption. [A] A 5% change in BLK assets is $500 billion, which is more than BTC is worth today. The catalyst for the path to over $250,000 after the BTC halving becomes clear.
BlackRock currently has $10 trillion in assets under management.
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Featured Image: Shutterstock/Bryan Vectorartist/Natalia Siiatovskaia
