As Bitcoin trading around the $46,000 mark with a notable 3.50% surge on Friday, the cryptocurrency world braces for the impact of external financial narratives. Amidst this, MicroStrategy faces a recalibrated price target post-earnings call by BTIG, signaling shifting investor sentiments.
Concurrently, the cryptocurrency sphere witnessed an unparalleled ETF debut month, courtesy of BlackRock and Fidelity’s Bitcoin ETFs, marking a significant milestone in digital asset investment.
In the backdrop of these developments, financial educator Robert Kiyosaki issues a grim forecast, dismissing the possibility of a gentle aftermath to the looming global economic downturn, urging investors to reassess the stability and future growth potential of Bitcoin amidst these tumultuous economic predictions.
Post-Earnings Reassessment: BTIG Lowers MicroStrategy Price Target
Following MicroStrategy’s Q4 earnings announcement, BTIG revised the company’s price target from $690 to $650, maintaining a Buy rating. The firm cited record subscriber billings, despite falling short of sales expectations, and issued optimistic projections for FY 2024.
With $8.2 billion in Bitcoin holdings, equivalent to 190,000 BTC, MicroStrategy is exploring the potential of leveraging its unrestricted Bitcoin assets. BTIG highlighted that regulatory clarity and increased institutional adoption are crucial for MicroStrategy’s Bitcoin strategy.
The firm suggests that bolstering institutional confidence and interest in Bitcoin could positively impact BTC prices by potentially driving demand and price appreciation.
Record-Breaking Debut: BlackRock and Fidelity’s Bitcoin ETFs Make History
Kiyosaki’s Prediction: No Gentle Descent Amid Global Financial Turmoil
Kiyosaki has doubled down his warning that there will not be any soft landing. In “Rich Dad Poor Dad,” author Robert Kiyosaki reiterates his concerns about the state of the economy and warns of bank failures and a global economic crash.
He expects investor losses amid the impending crisis and promotes safe havens such as gold, silver, and Bitcoin, highlighting the latter’s status as “people’s money.” Because of Kiyosaki’s prominent role in financial education, there is a chance that Bitcoin will become more popular and that its price will rise as people become more confident in it as a hedge against economic uncertainty.
BAIL OUT, BAIL OUT, BAIL OUT: In US Navy Flight School, student pilots learn how to fly and how to crash their plane. Financial losers will lose money because they do not know what to with their money as banks fail and world economy crashes. For many years I have warned, “Buy…
— Robert Kiyosaki (@theRealKiyosaki) February 8, 2024
His consistent support of Bitcoin’s ability to withstand government interference and the depreciation of fiat currencies may draw in more investors looking for safety in decentralized assets, which would increase Bitcoin’s long-term adoption and value growth.
Bitcoin Price Prediction
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