Cypherpunk Places Open Bid to Purchase All Bitcoin at 2 Cents: Is It Headed to $0?

Written by Emily J. Thompson, Senior Investment Analyst

Source: stocktwits

Updated: 18h ago

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Should l Buy ?

Source: stocktwits

Bitcoin Price Decline: Bitcoin's value dropped nearly 13% over the past week, raising concerns about its potential to reach zero, although Adam Back, CEO of Blockstream, asserts that this will not happen due to its limited supply and increasing institutional ownership.
Market Sentiment: Retail sentiment around Bitcoin remains bearish, with many speculating on its future price movements, while institutional investors continue to accumulate Bitcoin, indicating a structural supply squeeze in the market.
Long-Term Holdings: A significant portion of Bitcoin is held in long-term cold storage by institutional investors, with firms like BlackRock and Fidelity actively purchasing Bitcoin, contributing to a decrease in available liquidity.
Future Projections: Despite recent price drops, market participants are encouraged to hold onto their Bitcoin, with some predicting it could reach $1 million per coin in the long term, as the supply of Bitcoin continues to diminish.

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About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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