The amount of money invested in Bitcoin by Publicly Traded Companies just keeps climbing...
Last week I reported that there was roughly $6 billion invested by publicly traded companies in bitcoin.
That post can be seen here btw:
In roughly a week's time the total dollar amount invested has climbed significanly higher than $6 billion.
Though, the price of bitcoin is also up significantly in the last week as well, so there is that.
Irregardless, new money continues to flow into bitcoin from publicily traded companies around the world with the current totals now worth more than $10 billion...
Check it out:
There is now more than 23 companies that are either publicly traded or quazi publicly traded with the total invested amounting to more than $10 billion USD.
Which is close to double the amount invested we saw a little over a week ago.
It's going to be a fun next 12-16 months...
Like I mentioned in a previous post, I never expected publicly traded companies to be buyers of bitcoin.
It was something I just didn't really consider, though now it makes a ton of sense for them to do so.
When you combine that amount of money currently sitting on publicly traded corporate balance sheets, which is said be north of $7 trillion, with the massive stimulus plan that is coming down the pipeline eventually combined with continued debasement of the dollar as well as the past post halving trends and we have everything we need for a massive explosion in the price of bitcoin.
- PlanB and Stock-to-Flow is calling for $100k by the end of next year and $250k sometime before 2024
- Past post halving patterns are calling for something in the $250k-$400k range by the end of next year
- We even have some analysts calling for $1 million bitcoin, though most of those predictions are after the next halving in the 2025 area... (except for McAfee who owes everyone some schlong eating)
- PayPal bringing it to their 346 million users
- We even have former bashers/haters now promoting it to their clients... (cough cough Jamie Dimon's bank below)
Add up everything bitcoin has going for it right now, and I am finding it hard to believe bitcoin doesn't make new highs next year (or end of this year) and possibly blow those old highs out of the water.
Buckle up folks!
Stay informed my friends.