Film Star and Historian Says Bitcoin can rally to over $75,000

Niall Ferguson, a historian and a creator of the TV series The Ascent of Money, which won an International Emmy award, now says Bitcoin is--and will remain to be the best investment opportunity even after the pandemic. He mentions the bull rally of the last few months and people opting for new payment options advised by the viral contagion. Niall also explains that if the wealthy only invest one percent in the portfolio, the Bitcoin price can rally to $75k.

Details: 

Bitcoin is more than money. It is a store of value assets, digital and swift, cheaper to use, and is censorship-resistant. Unlike gold, its performance this year has been above the charts, and billionaires are now focussing on the digital asset, even investing. Michael Saylor of MicroStrategy is doubling down, announcing over the weekend of their big purchase. Besides, more companies and institutions now seek to diversify and invest 10 percent to their liquid portfolio in Bitcoin partly because of its stellar performance in recent days and the coin’s overall potential.

Impact on the BTC Price: 

Bullish. Niall is bullish and so are many billionaires. The rally from May this year, analysts say, is backed solely by institutions. Their influx and their desire to invest has been pumping the Bitcoin price to spot levels and may rise even to $75k if their billionaires allot a big portion of their wealth.

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