BlackRock and Coinbase deal could trigger Bitcoin Burst to $773,000, according to InvestAnswers
A popular crypto analyst breaks down how the partnership between two financial giants could spark a Bitcoin (BTC) explosion to $773,000.
Last week, American crypto titan Coinbase announced that it was teaming up with BlackRock, the largest asset manager in the world, to bring cryptocurrency trading to wealthy clients.
In a new strategy session, the host of InvestAnswers tells his 443,000 YouTube subscribers that the partnership could increase Bitcoin’s market cap by at least a trillion dollars.
“If BlackRock puts 0.5% of its assets under management in Bitcoin using my multiplier which is 21x, it will affect the market cap by $1.05 trillion, which will add about $75,000 to Bitcoin’s price, and take that to $98,000 and a yield (return on investment) from today’s price is 326%.This is very, very achievable…
If they now allocate 1%, which of course will take time to get to that level, it will add about $2.1 trillion to the market cap, $150,000 to the price, and it will take the future price of Bitcoin to 173,000 dollars, which is a 652% gain from here.
If they add 5%, which is what Dan Tapiero is saying, I think that’s way too aggressive. Maybe over time, maybe in the next three to five years, it might be possible. It would simply take the price of Bitcoin to $773,000 over the next three to five years.”
The crypto strategist’s analysis was inspired by comments from 10T Holdings CEO Dan Tapiero. According to the prominent macro investor, the deal between BlackRock and Coinbase could propel Bitcoin above $250,000,
“Chart That Got BlackRock Excited About Coinbase Partnership!
No bigger macro opportunity for BlackRock than to act to facilitate Bitcoin use. [A] 5% shift in BLK assets is $500 billion, greater than BTC value today. Catalyst for path to $250,000+ after BTC halving becomes clear.”
BlackRock currently has $10 trillion in assets under management.
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