According to the popular crypto-themed channel InvestAnswers BlackRock agreement between Coinbase and bitcoin can increase the price by creating an explosion in the price. Here is the incredible figure he claimed on his channel.
Last week, the US-based crypto giant coinbaseannounced a partnership with BlackRock, the world’s largest asset manager, to offer cryptocurrency trading services to wealthy clients.
Koinfinans.com As we reported, yInvestAnswers, which broadcast a new strategy session, claimed that the partnership could increase the market value of Bitcoin by at least a trillion dollars.
“If BlackRock puts 0.5% of its assets under management in Bitcoin using my 21x multiplier; this could increase its market value by $1.05 trillion, which would add approximately $75,000 to Bitcoin’s price, bringing it to $98,000, creating a serious return on investment. The return rate is 326% from today’s price. And that’s a very achievable goal if you ask me…
Now, if they allocate a 1% share, which of course will take time to reach this level, that would add about $2.1 trillion to the market cap, $150,000 to the price, which would push the future price of Bitcoin to $173,000. Here, 652% profit can be obtained.
If they add 5% as Dan Tapiero said, which I think would be a very aggressive move. Maybe over time, maybe in the next three to five years this will be possible. This will pretty easily push the Bitcoin price to $773,000 in the next three to five years.”
The strategist’s analysis was inspired by comments from 10T Holdings CEO Dan Tapiero. According to the leading macro investor, the deal between BlackRock and Coinbase could push Bitcoin above $250,000.
“The chart that got BlackRock excited about the partnership with Coinbase! There is no greater macro opportunity for BlackRock than facilitating Bitcoin adoption. The 5% change in BLK assets equates to $500 billion, which is greater than today’s BTC value. This could be the catalyst for the road to $250,000 and above after the BTC halving is clear.”
BlackRock currently has $10 trillion in assets under management.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.