$67,193: Veteran Crypto Trader Explains His Oddly-Specific Bitcoin Price Target

Veteran trader Peter Brandt has an oddly specific bitcoin price target – $ 67,193. Brandt, who boats of 40-plus years’ experience in commodity trading, arrived at this figure by taking the combined value of the 33,000 tonnes of central bank-owned gold and dividing it by bitcoin‘s fully-diluted currency supply of ~21 million coins. $ 67,193This is what one $ BTC will be worth if the the composite value of Bitcoin (at 21 MM mined) equals the value of the 33k tonnes of Gold $ GC_F #GOLD held by the world's central banks. — Peter Brandt (@PeterLBrandt) February 23, 2019 For Brand’s analysis to come

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Square’s Surging Bitcoin Business Will Restore Confidence in Crypto

Square, the $ 31 billion payments giant, processed over $ 166 million in Bitcoin purchases throughout 2018. Square Bitcoin Revenue Eclipses $ 50 Million in Q4 According to the firm’s Q4 shareholder letter, Square processed the sale of $ 52.4 million in Bitcoin in the fourth quarter of last year, up nearly two-fold from its previous quarter. The relatively high Bitcoin sales figure from Square follows an annual report released by Grayscale, a subsidiary of Digital Currency Group, which revealed that $ 359.5 million was poured into Grayscale’s crypto investment products by accredited investors during 2018. Two-thirds of the $ 359.5 million, around $ 237.5 million, came

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Tesla’s Catastrophic Debt Addiction Should Terrify Investors

Tesla investors should be nervous right now. The company faces a looming $ 1 billion debt deadline on Friday. The repayment will wipe out a third of Tesla’s cash reserves instantly. But it gets worse. Tesla is reportedly about to take on a further $ 2 billion in loans to fund its new gigafactory in China. The situation is gloomier still. Elon Musk bought a mountain of Tesla shares with borrowed money. And he put up other TSLA shares as collateral. The company even admitted in a recent filing that this move could kill the stock price. Tesla is a House of Cards

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