Bitcoin – along with the broader Ethereum, XRP and crypto markets – has skyrocketed over the last year (with some predicting an even bigger Wall Street wave).
Subscribe now Forbes' CryptoAsset and Blockchain Advisor and “Discover Blockchain Blockbusters Poised for Gains of Over 1,000%” Ahead of Next Year’s Historic Bitcoin Halving!'
Bitcoin price has surpassed $60,000 per Bitcoin, making it a $1 trillion asset again, while the market for Ethereum, XRP and crypto combined is well over $2 trillion – which triggers a serious warning of “massive collateral damage”.
Now, as new emails reveal “astonishing” clues to the true identity of mysterious Bitcoin inventor Satoshi Nakamoto, analysts at Bank of AmericaBAC have warned that the US debt burden will rise by $1 trillion every 100 days, which will lead to an increase in the Bitcoin price.
Bitcoin's historic halving, which is expected to trigger crypto price chaos, is just around the corner! Register now for the free CryptoCodex—A daily newsletter for traders, investors and those interested in crypto to keep you up to date
MORE FROM FORBESTThe 'real currency' – Elon Musk surprisingly sides with Bitcoin critic Warren Buffett amid cryptocurrency price swingsBy Billy Bambrough Dollars amid a Bitcoin price boom that is upsetting the combined Bitcoin, Ethereum, XRP and crypto market over $2 trillion.getty
“The U.S. national debt is rising by $1 trillion every 100 days,” Michael Hartnett, chief strategist at Bank of America, wrote in a note to clients seen by CNBC, adding that it was “no wonder that deals are getting closer and closer to debt reduction.” time highs, i.e. gold [at] $2077/oz [and] Bitcoin [at] $67,734.”
Hartnett predicted that the newly created spot Bitcoin exchange-traded funds (ETFs) that have taken Wall Street by storm last month are on track for a “bang year,” due in part to the collapse of the U.S -Dollars.
BlackRock's BLKBLK IBIT, the largest new spot Bitcoin ETF, surpassed $10 billion in assets under management this week, while Fidelity's FBTC has raised $6 billion since its debut in early January, surpassing Bitcoin price soared in what is known as Bitcoin’s “IPO moment.” “
Inflows into the new spot Bitcoin ETFs have suddenly increased over the past two weeks, leading to wild predictions that Bitcoin could “steal gold's crown” as the world's “primary store of value.”
The U.S. national debt has soared in recent years, surpassing $34 trillion in early 2024, as Covid-19 and lockdown stimulus measures last year sparked wild predictions that the bitcoin price would hit $1 million per bitcoin could rise.
“This isn’t going to end well,” says Genevieve Roch-Decter, a former money manager and author of the Grit Capital newsletter. Posted to X.
Sign up for CryptoCodex now– A free, daily newsletter for those interested in crypto
MORE FROM FORBES 'Free Money' – Bitcoin 'Godzilla' Price Rally Is Dwarfed by These Small Cryptocurrencies By Billy Bambrough Price drop that combined Bitcoin, Ethereum and XRP to create a crypto market worth around $2.3 trillion power.Forbes Digital Assets
JPMorgan Chief Executive Jamie Dimon has predicted that rising US debt could trigger a global “rebellion”, while Bank of America CEO Brian Monyihan called the country's mountain of debt the “most predictable crisis we have ever had”. .
In February, legendary investor Jim Rogers warned that the massive $34 trillion U.S. debt pile meant a looming recession would be “the worst in history.” [his] Lifetime” after Federal Reserve Chairman Jerome Powell primed the crypto market for a $3.3 trillion price boom.
Follow me up Twitter.
I am a journalist with extensive experience in technology, finance, business and business around the world. As founding editor of Verdict.co.uk, I have reported on how technology is changing the economy, political trends and the latest culture and lifestyles. I have covered the rise of Bitcoin and cryptocurrencies since 2012, charting its emergence from a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the Internet itself. I have worked and written for CityAM, the Financial Times and the New Statesman, among others. Follow me on Twitter @billybambrough or email me at billyATbillybambrough.com. Disclosure: I occasionally own a small amount of Bitcoin and other cryptocurrencies.
Read moreRead less