October 7, 2022

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BlackRock and Coinbase Deal Could Send Bitcoin Exploding $773,000, According to InvestAnswers

BlackRock and Coinbase Deal Could Send Bitcoin Exploding $773,000, According to InvestAnswers

A popular crypto analyst breaks down how a partnership between two financial giants could lead to Bitcoin (BTC) Blast to $773,000.

Last week, US-based cryptocurrency giant Coinbase announce They have teamed up with BlackRock, the world’s largest asset manager, to bring cryptocurrency trading to wealthy clients.

In a new strategy session, the InvestAnswers host told his 443,000 YouTube subscribers that the partnership could boost Bitcoin’s market cap by at least $1 trillion.

“If BlackRock put 0.5% of its assets under management in Bitcoin using my multiplier of 21x, it would affect the market cap by $1.05 trillion, which would add about $75,000 to the price of Bitcoin, bringing it to $98,000, and the ROI (return on ) from today’s rate 326%. This is very achievable…

Now if they allocate 1%, which would 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%, which Dan Tabero says, I think it’s very aggressive. Maybe with time, maybe in the next three to five years, that might be possible. This will take the price of Bitcoin to $773,000 in the next three to five years quite easily.”

Source: InvestAnswers / YouTube

A crypto strategy analysis was inspired by the comments of Dan Tabero, CEO of 10T Holdings. According to a prominent large investor, the deal between BlackRock and Coinbase could push Bitcoin upwards of $250,000,

The chart that got BlackRock excited about partnering with Coinbase!

There is no greater macro opportunity for BlackRock than working to facilitate Bitcoin adoption. [A] The 5% shift in BLK’s assets is $500 billion, which is more than the value of BTC today. The catalyst for the road to $250,000+ after the Bitcoin halving is clear.”

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source: Dan Tabero / Twitter

BlackRock currently has $10 trillion in assets under management.

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Featured image: Shutterstock / Bryan Vectorartist / Natalia Siiatovskaia