Bitcoin is on track to reaching $250,000 price level, Mr. Yusko told CNBC’s host Melissa Lee.
‘$250,000 for Bitcoin’ prediction isn’t just pulled out of the air
Wall Street veteran Mark Yusko stated that Bitcoin (BTC) could reach $250,000 if adopted as ‘new gold’. Approximate net capitalization of lustrous metal is above $10 trillion, but 50% of this value should be attributed to jewelry and other industrial use-cases.
As such, when Bitcoin (BTC) will be ready to replace gold as a store of value, the road is opened for a flagship crypto to $250,000 price levels.
According to the estimations of Mr. Yusko, it will take four years for a crypto king to reach this status. For him, the limited supply of Bitcoin (it will never have more than 21 mln coins in circulation) is among the strongest drivers behind its ‘store of value’ narrative.
Amidst ‘crypto winter’ in 2019, Mr. Yusko claimed that $450,000 would be a reasonable price for one Bitcoin (BTC) in the near future. So, he stays bullish despite the price fluctuations of crypto markets.
It should be noticed that Bitcoin (BTC) touched all-times-high on November 10, 2021 over $69,000. After reaching this peak, Bitcoin (BTC) plummeted below $56,000.
India Yet Again Tries to Impose Ban on Cryptocurrencies
Yesterday, on Nov.23, Indian journalist Ruchi Bhatia shared in her Twitter the agenda of the Indian parliament winter session. According to the document, the country’s government plans to introduce the ‘Cryptocurrency and Regulation of Official Digital Currency’ bill.
Big Breaking: Govt to introduce ‘Cryptocurrency and Regulation of Official Digital Currency’ Bill in the winter session. The Bill will create a facilitative framework for an official digital currency to be issued by the RBI, and ban all private cryptocurrencies. pic.twitter.com/rMEeYMEKJe— Ruchi Bhatia (@29_ruchibhatia) November 23, 2021
This isn’t the first attempt of local officials to ban cryptocurrency: since 2020, numerous anti-crypto bills have been implemented, but the country still remains one of the most powerful cryptocurrency hubs.
At the same time, the final decision is yet to be made: experts claim that the government may ban using crypto as legal tender, but investing and trading won’t be illegal.
Floki Inu (FLOKI) partners iconic Italian football club SSC Napoli
One of the most eccentric ‘dog-coins’, Floki Inu (FLOKI), that carries the name of Elon Musk’s pet, becomes the shirt-and-back partner of SSC Napoli.
#FLOKI BREAKS INTO SERIE A THROUGH STRATEGIC PARTNERSHIP WITH SSC NAPOLI$FLOKI is now officially partnered with Italian professional football club and Serie A giant, SCC Napoli. pic.twitter.com/e6sZ92Avhq— Floki Inu (@RealFlokiInu) November 23, 2021
The club of Diego Maradona has one of the largest fan bases globally. Founded back in 1926, it is the fifth biggest winner of Series A.
Starting from the next round of the football league, all players, coaches and managers will be wearing the FLOKI logo and the name of its official website.
Floki Inu is the third biggest memetic canine cryptocurrency, surpassed only by Dogecoin and Shiba Inu Coin.
SSC Napoli raises its bets on crypto: last week it partnered blockchain start-up Chilliz to issue Napoli’s own cryptocurrency fan token.