• Wed. Jun 7th, 2023

All It Takes is 93 Million Dollars For Directing Instant Hike In Bitcoin’s Value

Mar 20, 2021

It takes less than 100 Million Dollar investment into Bitcoin for accumulating 1% increase in the value of Bitcoin.

It is a natural phenomenon that if one were to bring about an instant hike in the value of Bitcoin, then all it needed is a handsome investment. For instance, US$ 93 Million is good enough money for incorporating a change up to 1% at least in the value of Bitcoin. The bigger the investment, the bigger the surge could be. The argument that anyone can increase the value of Bitcoin at discretion, isn’t wrong therefore.

In the period between 2020 till to date, the value of Bitcoin has surged in double figures. The major reason for this immense surge was the investment contributed by institutional and individual investors. In addition, those investors who were known for investing heavily into Gold, also turned their gaze upon Bitcoin. In 2020 alone, at least US$ 6 Billion funds, which were usually invested into Gold, were poured into Bitcoin.

Huge investments that were received by Bitcoin were from Microstrategy, Grayscale Investments and Square Inc. The latest was of US$ 1.5 Billion which was injected by electric vehicles manufacturer, Tesla Inc.

*As per the Bitcoin analysis conducted by JPMorgan Chase, the investment coming into Bitcoin from institutional quarters is up to 20%. On the other hand, the analysis suggested that the retail sale of Bitcoin has increased for at least 90%. As regards the sale and purchase of Bitcoin, the analysis suggested that purchase is higher than the sale. This is because majority of Bitcoin purchasers are holding the asset for long term basis. However, short term holding of Bitcoin is almost to none, claimed JPMorgan’s analysis.

Yet there is still quietness within the Wall Street where Bitcoin failed to convince majority of them. But there are rumors that an investment bank from the Wall Street namely Morgan Stanley might be adopting Bitcoin. It was rumored that the bank will launch crypto custodial and trading services. However, the rumors were attributed to a person claiming to be associated with the bank.

But one thing is for sure which is that the first digital coin of the world is enormously fragile against increased demand of US Dollar. This aspect of Bitcoin is very much in the favor of those who support cryptocurrencies. For instance, an investment of US$93 Million brought into Bitcoin, could send the value of Bitcoin up by 1%. The change can be instantaneous and this is exactly what has been going on since 2020.

The good thing is crypto is being adopted by majority of countries. It has grown into a credible and authentic asset class, mostly because of Bitcoin. Still there are people who are not convinced and think that the rally is for temporary basis. But Bitcoin continues to attract more and more investors within and outside private and public sectors.

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