21.05.2024

Bitcoin on the cusp of the largest investment ever – $ 5 billion

Dubai-based entrepreneur Khurram Shroff plans to buy 100,000 bitcoins for $ 5 billion and then use them to create the Miami 2.0 Blockchain Strategy Foundation. This is reported  by the Arabianbusiness edition.

If Shroff does deposit 100,000 BTC, it will be the largest public crypto investment in the history of the market. At the same time, the head of IBC Group added that the decision to invest in bitcoin is related to a request from the US developer Burkhan World Investment to expand the implementation of  blockchain  in real estate projects in Miami.

«The largest investment in bitcoins confirms our willingness to help cities implement blockchain technologies …» , – said the chairman of the IBC Group.

The IBC Group is reported to be one of the key players in the Miami real estate market with over $ 1 billion worth of projects in development.

Bitcoin for Miami

However, Shroff is known not only as a major real estate developer in Miami. In November last year, IBC Group announced plans to invest $ 10 million in the development of the Ethereum 2.0 network  .

Then  it was reported that the company will invest about 20 thousand ETH in the ETH2 deposit contract. Whether the company actually invested, however, remains unknown.

Shroff’s plans to create a blockchain fund appeared after the mayor of the city, Francis Suarez,  announced his readiness  to recognize bitcoin as a means of payment, as well as an effective investment tool.

New York mayoral candidate Andrew Young also supported Suarez’s decision. At the same time, Young noted that he would try to make New York the world center of cryptocurrencies in case of victory in the elections.

However, Suarez is not the only mayor to declare his fondness for cryptocurrencies . For example, the mayor of Reno, Nevada, Hillary Shiv, also confirmed her readiness to use cryptocurrencies as payment and investment instruments.

Head of Abra: after correction, bitcoin price will rise to $ 250,000 by the end of 2021

The CEO of digital payments platform Abra believes that by the end of 2021 the price of bitcoin could rise to $ 250,000, while the necessary healthy correction is expected in the cryptocurrency market, which happened the day before.

In a new episode of What Bitcoin Did with Peter McCormack, Bill Bargidt expressed the opinion that after a logical correction, the first resistance will be set at $ 60,000.

“If you analyze the graph, we have not had a 30% retracement since we returned to $ 30,000 after climbing to $ 44,000. If you look at the uptrend we’ve been going since December, in February we could peak just below $ 60,000 and then fall 30%. Further, the spiral will unfold, probably to $ 85,000- $ 90,000. «

Despite the short-term bearish outlook, Bargidt has no doubts about the large upside potential of the largest cryptocurrency, with the peak of the bull market depending on the speed of purchases by large corporations.

“As soon as we get to the August timeline and get close to $ 100,000, the two PlanB models will start to diverge. One of his base stock models says we will grow to $ 100,000 in 24 months. Another cross-asset model, which reflects the next phase, reads: This year we will get a price of up to $ 250,000 …

Last December, when I came to your show and spoke to [Anthony Pompliano] and others, I predicted that Bitcoin would be worth $ 100,000 by the end of 2021. I think the prediction is correct, but if we get a bunch of other Fortune 500 companies to make statements like Tesla, it will push the price up to a quarter of a million very quickly. ”

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