PlanB, the creator of the Bitcoin Stock-to-Flow (S2F) model, recently admitted to making his third BTC investment. At the time of the last purchase, the leading coin was around $20,000.
PlanB boosts Bitcoin (BTC) investment
cryptocoin.comAs you follow, Bitcoin reached its ATH level of $69,000 in November 2021. However, due to the subsequent significant price drop, many have declared Bitcoin dead in the last few months. But one analyst says that every single one of their crypto investments is in a time of pessimism.
The analyst, nicknamed PlanB, has revealed the timeline of his BTC purchases over the years. It first entered the ecosystem in 2015, when BTC was trading at around $400. Three years later, when BTC was around $4,000, he bought more. His third investment was recently, when the coin was valued at $20,000.
Interestingly, PlanB notes that the number of ‘Bitcoin is dead’ queries on Google is very high with every purchase. The aforementioned narrative becomes quite popular in times of a market crash. That phrase skyrocketed to an all-time high in June this year when Bitcoin dropped to $17,500 (18-month low).
It is worth noting that Bitcoin has been declared “dead” more than 450 times in its lifetime. Despite previous price drops, negative tones from prominent figures and the devastating macro environment, it has always managed to overcome problems. It currently stands as an asset with a market capitalization of over $360 billion.
Perhaps this number is not as impressive as it was in November 2021, when BTC was over $1 trillion. But still more than the market cap of leading companies like Meta, Walmart, Nestle and more.
PlanB’s STF model and BTC’s possible optimistic future
PlanB is most famous for developing the Bitcoin stock-to-flow model (S2F). The model is based on its circulating supply and the amount of cryptocurrencies mined each year. In this way, it provides a reasonable future Bitcoin USD valuation. At the beginning of 2022, PlanB says that analysis shows BTC will reach $100,000 by the end of 2023.
It would really surprise me that after the next halving when BTC is S2F 100+, Bitcoin has a lower market cap than gold.
It is worth noting that PlanB’s forecasts are not always in place. In April this year, he said that the likelihood of BTC falling below $24,500 again is low. He also predicted that it is possible to touch the $100,000 milestone in 2022. In reality, Bitcoin has been hovering around $20,000 for the past few months. According to most analysts, it is unlikely to reach the projected price tag by the end of the year.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.