Bitcoin The bulls had an excellent year. If The U.S. defaults on It is a good idea to use debtIt could The best is yet to come, at least when it comes to their Bitcoin investment.
That’s according to Geoff Kendrick, Standard Chartered’s head of digital assets research. He told Insider this week that a U.S. default—which he called a “low-probability, high-impact event”—could cause Bitcoin The increase is approximately $20,000 nearly The current level of 70% is a reduction from the existing levels.
Bitcoin The stock market is hovering around $30,000. That’s still well off its all-time high of nearly In November 2021 some investors will be able to buy $69,000 and others who purchased it earlier. Bitcoin There is no doubt that those still in the area are still nursing their wounds.
BitcoinKendrick predicted that would perform well even though overall cryptocurrency, which is traded like stocks, does not. “So actually, the optimal trade would probably be long Bitcoin, short Ethereum. That sort of mix would probably be a good expression of this,” Kendrick told Insider.
On Monday, Kendrick said in a note Bitcoin could Reach $100,000 by 2024. “crypto winter” It was finished. It was added. Bitcoin The status of a “branded safe haven, a perceived relative store of value and a means of remittance.”
Bitcoin’s price shot up earlier this year after Silicon Valley Bank collapsed and fears of a banking crisis mounted.
Then, debt Ceiling crisis has escalated. On Wednesday, House Republicans passed legislation (barely) that would raise the government’s debt In exchange for restrictions on spending, they will accept a budget ceiling. In the weeks ahead, they’ll try to reach a compromise with President Joe Biden that would allow the nation’s debt Lifted
If The U.S. defaulted on It is a good idea to use debt The consequences of this summer would be serious for America as well as the entire world. Treasury Secretary Janet Yellen told lawmakers last month that “a default on our debt would trigger an economic and financial catastrophe.”
Many people do not think that it could come to this.
Even without the U.S. defaulting, there are still many Bitcoin Bulls are optimistic about the future. Cathie Wood CEO at ARK Invest said in February, that within five years. Bitcoin The hit will be “roughly $670,000, something like that, and then by 2030, as we see more use cases and more of these insurance policies taken out against fiscal and policy regimes that are not healthy, we think it could pass $1 million.”
Bitcoin There are plenty of doubters and critics, too. Mark Mobius predicted that in December, Mobius Capital Partners’ billionaire founder Mark Mobius would be the next president. Bitcoin Would fall to $10,000 by the end of this year. The amount of money he has is $10,000. said of Bitcoin, “It’s not an investment, it’s a religion.”
In a recent interview, Berkshire Hathaway’s CEO Warren Buffett reaffirmed his longstanding skepticism. “Something like Bitcoin, it is a gambling token, and it doesn’t have any intrinsic value,” he told CNBC’s Squawk box. “But that doesn’t stop people from wanting to play the roulette wheel.”