{"id":357,"date":"2021-04-24T23:03:00","date_gmt":"2021-04-24T21:03:00","guid":{"rendered":"https:\/\/the-wiseguy.com\/Readzzz\/?p=357"},"modified":"2021-02-24T23:09:13","modified_gmt":"2021-02-24T22:09:13","slug":"bitcoin-to-1-million-in-5-years","status":"publish","type":"post","link":"https:\/\/the-wiseguy.com\/Readzzz\/bitcoin-to-1-million-in-5-years\/","title":{"rendered":"Bitcoin to $1 million in 5 years"},"content":{"rendered":"\n<p>I read this article on <a href=\"https:\/\/the-wiseguy.com\">the-wiseguy.com <\/a> and it sound to me like a hoax. So much so that I wanted to post it here and see what it will be in 5 years time. The date of todat is April 19th 2021. We will see !!!<\/p>\n\n\n\n<div class=\"wp-block-image is-style-default\"><figure class=\"aligncenter size-full is-resized\"><a href=\"https:\/\/the-wiseguy.com\/Readzzz\/wp-content\/uploads\/2021\/02\/bitcoin-1-mil.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/the-wiseguy.com\/Readzzz\/wp-content\/uploads\/2021\/02\/bitcoin-1-mil.jpg\" alt=\"\" class=\"wp-image-358\" width=\"320\" height=\"180\" srcset=\"https:\/\/the-wiseguy.com\/Readzzz\/wp-content\/uploads\/2021\/02\/bitcoin-1-mil.jpg 1280w, https:\/\/the-wiseguy.com\/Readzzz\/wp-content\/uploads\/2021\/02\/bitcoin-1-mil-300x169.jpg 300w, https:\/\/the-wiseguy.com\/Readzzz\/wp-content\/uploads\/2021\/02\/bitcoin-1-mil-1024x576.jpg 1024w, https:\/\/the-wiseguy.com\/Readzzz\/wp-content\/uploads\/2021\/02\/bitcoin-1-mil-768x432.jpg 768w\" sizes=\"auto, (max-width: 320px) 100vw, 320px\" \/><\/a><\/figure><\/div>\n\n\n\n<p>From the article: &#8220;Since 2008 we are invested in bitcoins. And that is probably the best investment we made in our life.&#8221; <\/p>\n\n\n\n<p>We have sold quite a few bitcoins since than and that is probably the worst decision we made in our life. But we still have some and we are true believers. I have always said that I hope bitcoin will hit 1 million dollars but now we read an article\u00a0that it might be sonner than we think.. So lets pump and plug the bitcoin some more and hope it comes true ?<\/p>\n\n\n\n<p>Here is the article from the-wiseguy.com: \u201cBitcoin will surge to $1 million in 5 years by an \u2018enormous wall of money,\u2019 former Goldman Sachs hedge-fund chief says\u201d<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>The price of bitcoin could hit $1 million in five years, up from about $11,000 now, thanks to an \u201cenormous wall of money,\u201d a former Goldman Sachs hedge-fund chief said in a recent interview.<\/strong><\/li><li><strong>Raoul Pal, who has allocated more than 50% of his capital to bitcoin, said a wave of institutional funds would adopt the digital currency as they realize the economy will take a long time to recover from the COVID-19 pandemic.<\/strong><\/li><li><strong>\u201cIt\u2019s an enormous wall of money \u2014 just the pipes aren\u2019t there to allow people to do it yet, and that\u2019s coming,\u201d he said. \u201cBut it\u2019s on everybody\u2019s radar screen, and there\u2019s a lot of smart people working on it.\u201d<\/strong><\/li><\/ul>\n\n\n\n<p>Raoul Pal, the former Goldman Sachs hedge-fund manager who founded&nbsp;Real Vision, said the price of&nbsp;bitcoin&nbsp;could hit $1 million in five years.<\/p>\n\n\n\n<p>In an&nbsp;interview with Stansberry Research&nbsp;on October 7, he pinned such a price increase to a wave of institutional funds pouring \u201can enormous wall of money\u201d into the asset.<\/p>\n\n\n\n<p>Bitcoin\u2019s price has exploded about 40% year-to-date and was worth $11,387 on Thursday. It is also the largest digital currency by market capitalization, at about $200 billion, according to&nbsp;data published by Statista.<\/p>\n\n\n\n<p>\u201cJust from what I know from all of the institutions, all of the people I speak to, there is an enormous wall of money coming into this,\u201d he told the host Daniela Cambone. \u201cIt\u2019s an enormous wall of money \u2014 just the pipes aren\u2019t there to allow people to do it yet, and that\u2019s coming. But it\u2019s on everybody\u2019s radar screen, and there\u2019s a lot of smart people working on it.\u201d<\/p>\n\n\n\n<p>Pal, the cofounder and CEO of Global Macro Investor, said the global economy was moving from the \u201chope phase\u201d to the \u201cinsolvency phase\u201d as investors realize that a recovery from the COVID-19 pandemic will take much longer than anticipated.<\/p>\n\n\n\n<p>\u201cThe economy\u2019s not going to recover for a lot longer than we expect,\u201d he said. \u201cThere\u2019s no stimulus around, and we\u2019ve got more problems to come in Europe, the US, and elsewhere. And businesses don\u2019t have enough cash flow. They\u2019re closing in droves. And that\u2019s what I called the insolvency phase.\u201d<\/p>\n\n\n\n<p>He added that \u201cthe only answer is more from the central banks, so that\u2019s why I started to buy more and more bitcoin.\u201d<\/p>\n\n\n\n<p>He acknowledged that such an allocation exposed him to a significant downside but said he accepted that, as \u201cthe upside\u2019s so much bigger.\u201d<\/p>\n\n\n\n<p>\u201cMy trading positions are relatively small, because I don\u2019t think there\u2019s as much opportunity as there is in bitcoin. So really, mainly, a bit of cash, some gold, and bitcoin,\u201d he said. \u201cAnd I\u2019m even toying with the idea of selling my gold to buy bitcoin, more bitcoin.\u201d<\/p>\n\n\n\n<p>Tyler Winklevoss, the Gemini crypto exchange cofounder and CEO, has also said that bitcoin could also be propelled by the Federal Reserve\u2019s global quantitative-easing program.<\/p>\n\n\n\n<p>\u201cThe Fed continues to set the stage for Bitcoin\u2019s next bull run,\u201d he said in a&nbsp;July 22 tweet.<\/p>\n\n\n\n<p>Winklevoss added in August that the US dollar was no longer a \u201creliable store of value\u201d and that there was no better time to buy bitcoin.<\/p>\n\n\n\n<p>From<a href=\"https:\/\/markets.businessinsider.com\/currencies\/news\/bitcoin-hit-million-five-years-ex-goldman-hedge-fund-boss-2020-10-1029682590#:~:text=to%20BI%20Prime-,Bitcoin%20will%20surge%20to%20%241%20million%20in%205%20years%20by,Sachs%20hedge%2Dfund%20chief%20says&amp;text=The%20price%20of%20bitcoin%20could,said%20in%20a%20recent%20interview.\">: &#8220;the-wiseguy.com&#8221;<\/a><a rel=\"noreferrer noopener\" href=\"https:\/\/the-wiseguy.com\/#twitter\" target=\"_blank\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I read this article on the-wiseguy.com and it sound to me like a hoax. So much so that I wanted to post it here and see what it will be in 5 years time. The date of todat is April 19th 2021. We will see !!! From the article: &#8220;Since 2008 we are invested in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":359,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,6],"tags":[],"class_list":["post-357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-finance"],"_links":{"self":[{"href":"https:\/\/the-wiseguy.com\/Readzzz\/wp-json\/wp\/v2\/posts\/357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-wiseguy.com\/Readzzz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-wiseguy.com\/Readzzz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-wiseguy.com\/Readzzz\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-wiseguy.com\/Readzzz\/wp-json\/wp\/v2\/comments?post=357"}],"version-history":[{"count":1,"href":"https:\/\/the-wiseguy.com\/Readzzz\/wp-json\/wp\/v2\/posts\/357\/revisions"}],"predecessor-version":[{"id":360,"href":"https:\/\/the-wiseguy.com\/Readzzz\/wp-json\/wp\/v2\/posts\/357\/revisions\/360"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/the-wiseguy.com\/Readzzz\/wp-json\/wp\/v2\/media\/359"}],"wp:attachment":[{"href":"https:\/\/the-wiseguy.com\/Readzzz\/wp-json\/wp\/v2\/media?parent=357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-wiseguy.com\/Readzzz\/wp-json\/wp\/v2\/categories?post=357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-wiseguy.com\/Readzzz\/wp-json\/wp\/v2\/tags?post=357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}