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August 9, 2022
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Bitcoin

Mark Palmer: BTC will go up to $ 95,000. It is also worth investing in Microstrategy –

BTIG Managing Director and Digital Asset Market Analyst Mark Palmer has released his Bitcoin (BTC) and Microstrategy (MSTR) predictions. In his note, he emphasized the relationship between the MSTR valuation and the value of the cryptocurrency.

Mark Palmer researches the BTC price

Mark Palmer entered the MSTR’s decision to buy BTC.

We are fully aware that MSTR, which in August last year became the first U.S. publicly traded company to adopt Bitcoin as a treasury reserve asset, took a huge, unsecured long position on highly volatile speculative assets … [MSTR ma na celu] capturing the growth resulting from increased cryptocurrency adoption by institutional investors concerned about rising inflationary pressures

– he wrote in the document.

Palmer’s comment on the correlation between the two assets – BTC and Microstrategy stocks – comes when he posted a buy rating for MSTR with a target price of $ 850. He assumed that Bitcoin would grow to as much as $ 95,000 by the end of 2022. One MSTR share now costs around $ 703. For 1 BTC you have to pay exactly 58 203 USD. Bitoin fell by 2.64 percent since yesterday, but at the same time its price increased by 3.15 percent. on a 7-day scale.

Microstrategy leads all publicly traded companies when it comes to investing in Bitcoin. The company now has 91,326 BTC worth $ 2.2 billion. The purchase of such an impressive company has paid off as its BTC portfolio is now valued at $ 5.4 billion.

Digital gold

Palmer adds that he views Bitcoin as “digital gold” that could spark investor interest in terms of monetary easing.

[Bitcoin jest] an attractive, non-sovereign storehouse of value at a time when unprecedented levels of global fiscal and monetary stimulus have heightened investor concerns about monetary inflation and fiat currency depreciation

– added.

Current Bitcoin rate and other cryptocurrencies, you can always check the tabs: exchange rate Bitcoin and the cryptocurrency rate at . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will learn how to efficiently create one: LINK.

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