A popular crypto analyst is looking at how the partnership between two financial giants could trigger a Bitcoin (BTC) burst to $773,000.
Last week, US-based crypto titan Coinbase. Announced which partnered with BlackRock, the world’s largest asset manager, to bring cryptocurrency trading to wealthy clients.
In a new strategy session, the InvestAnswers host tells his 443,000 YouTube subscribers that the partnership could increase Bitcoin’s market capitalization by at least $1 trillion.
“If BlackRock manages 0.5% of their assets in Bitcoin using my multiplier, which is 21x, that will affect the market cap by $1.05 trillion, which will add about $75,000 to the price of Bitcoin, taking it to $98,000. , and an ROI (return on investment) of today’s price is 326%. This is very, very achievable…
Now if they allocate 1%, which of course will take time to get to that level, that would add about $2.1 trillion to the market cap, $150,000 to the price, and that would take the future price of Bitcoin to $173,000, which is a 652% gain from here.
If they add 5% to it, which is what Dan Tapiero says, I think it’s too aggressive. Maybe over time, maybe in the next three to five years, that might be possible. That would take the price of Bitcoin to $773,000 in the next three to five years quite easily.”
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 partnering with Coinbase!
There is no greater macro opportunity for BlackRock than to act to facilitate the adoption of Bitcoin. [A] The 5% change in BLK assets is $500 billion, greater than the value of BTC today. Catalyst for the path to $250,000+ after BTC halving to become clear.”
BlackRock currently has $10 trillion in assets under management.
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Featured Image: Shutterstock/Bryan Vectorartist/Natalia Siiatovskaia
