Crypto roundup: Ten tweets to celebrate Bitcoin smashing through $US52,000
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The price of Bitcoin is now closer to $US100,000 than zero.
After flirting with $US50,000 late Tuesday (Australia time), the king of the cryptocurrencies smashed through historic mark around 5pm on Wednesday – and then kept on going.
Close to lunchtime BTC had been trading for over $US52,000 ($67,000) for about six hours, having gained 6.1 per cent in the last 24.
With the bulls firmly in control, crypto buffs were taking to their favourite medium to celebrate: Twitter.
Venture capitalist and tech billionaire Tim Draper thinks Bitcoin’s move higher is just beginning.
$250k by end of 2022. Just 5X from here. Looking a lot more likely than when I made the initial prediction three years ago, eh? #Bitcoin
— Tim Draper (@TimDraper) February 17, 2021
2. James Todaro poked fun at the Motley Fool’s announcement it would buy $US5 million worth of Bitcoin
Bitcoin at $14k Bitcoin at $50k pic.twitter.com/jik4ykF8VF
— James Todaro, MD (@JamesTodaroMD) February 17, 2021
3. The Crypto Dog says this is just the beginning.
I don’t believe Bitcoin has started pumping yet. This is still accumulation.
— The Crypto Dog📈 (@TheCryptoDog) February 18, 2021
4. The best time to buy Bitcoin was in 2010. The second best time is… now?
“Smart money” has now entered the #Bitcoin game. You had an eleven year window of opportunity to frontrun them completely.
If you’re already running? Congrats. Keep going.
If you aren’t? It’s not too late. But it gets harder to stay in front from here on out. Tick tock.
— ₿rian Lockhart (@BrianLockhart) February 18, 2021
5. Blackrock has $8.6 trillion in assets under management.
Blackrock is reporting that they have “dabbled” in Bitcoin.
They’re the largest asset manager in the world.
What the hell do you think happens next??
— Pomp 🌪 (@APompliano) February 17, 2021
6. This seems like as valid a way to calculate a price target as some of the others.
My Bitcoin price target is $238,855. I arrived at this price target by googling the distance between the earth and the moon and converting it from miles to dollars.
— Aubrey Strobel (@aubreystrobel) February 17, 2021
7. Another method
My Bitcoin price target is $630,000.
I arrived at this price target by counting the 30,000 lines of code in Satoshi Nakamoto’s original Bitcoin software and then mutiplying it by 21 and converting it to dollars.
— Documenting Bitcoin 📄 (@DocumentingBTC) February 17, 2021
8. Institutional money incoming in 3 … 2 … 1…
BREAKING: New York Digital Investment Group (NYDIG) to launch US-based #Bitcoin fund, in partnership with banking giant Morgan Stanley
— Market Meditations (@MrktMeditations) February 17, 2021
9. Putting things in perspective
It took just 52 days for #Bitcoin to go from $25k to $50k. $100k this year is conservative.
— Samson Mow (@Excellion) February 16, 2021
10. The sky … or maybe the moon?
Bitcoin’s next resistance level isn’t until $170k, the ‘sky is the limit,’ says trader https://t.co/8jwml2i5UL
— dearkat (@KatherineZupan) February 18, 2021
The broader crypto market was also solidly in the green, with just Dogecoin (down 8.7 per cent) and Cosmos (down 2.9 per cent) the major coins losing ground over the last 24 hours.
Ethereum was changing hands for just under $US1900 ($2,425) on Australian exchange the Independent Reserve at lunchtime, up 6.8 per cent in the last day.
On Kraken, Monero was up 18.8 per cent to $US270 ($348), and Icon had soared 19.3 per cent to $1.95 ($2.51).