Out of nowhere, JPMorgan appears to be strongly bullish in favor of Bitcoin. So much so to the point where they see it increasing FIVE-FOLD in the near future:
“Digital currency bitcoin has emerged as a rival to gold and could trade as high as $146,000 if it becomes established as a safe-haven asset, investment bank JPMorgan (JPM) said on Tuesday.
’Bitcoin’s competition with gold has already started in our mind,’ the Wall Street bank’s strategists said in a note, citing recent $7 billion outflows from gold and more than $3 billion of inflows into the Grayscale Bitcoin Trust.
Bitcoin is likely to outshine gold as millennials become a more important component of the investment market over time and given their preference for ‘digital gold’ over traditional bullions.
With a market capitalization of $575 billion, the bitcoin price would need a nearly fivefold jump to $146,000 to match the value of private gold wealth held in gold bars, coins or exchange-traded funds.”
However… JPMorgan notes that Bitcoin’s ever-increasing rise can only happen if its volatility eventually converges with gold’s volatility. Which means it has to become a much more stable investment that isn’t prone to sudden $3,000 increases and decreases every day.
Do YOU think Bitcoin will go up to $146,000 this year? Reply to this newsletter and share your predictions with us!
Will You Be Able to Gamble With Bitcoin Soon?
With Bitcoin rising up and up, people are going to find multiple uses for their profitable investments. Some will continue to buy and hold on for dear life, while others will day trade the cryptocurrency, and a few select people will finance purchases (small and large) with Bitcoin.
Of course… there are the few degenerates who want to gamble using Bitcoin, and this latest story from Bloomberg would be music to their ears:
“International Game Technology Plc, the world’s largest maker of slot machines, may be looking at offering cryptocurrency as a payment option on casino games like Megabucks and Wheel of Fortune.
On Tuesday, the company received a patent for a way to transfer cryptocurrency between a player’s gaming-establishment account and an external cryptocurrency account. That means players could move Bitcoin into their virtual wallets on a slot machine using their phones.”
Before this, there were only two ways to engage in “crypto-gambling”…
- Pray your casino has a special ATM for converting your cash into crypto
- Choose the right gambling app, or online poker site, for making bets using crypto
Now, with Bitcoin increasing over 4x in 2020, it would be stupid for gambling companies and casinos to NOT offer the cryptocurrency to interested gamblers. Especially since an increasing number of millennials are taking a growing interest toward Bitcoin (44% will buy Bitcoin over the next 5 years)…
NY Governor Andrew Cuomo Gets Dictator-Like
The same bastard who had the cajones to write a book about “leadership during the COVID-19 pandemic” when his own state was the WORST AFFECTED one is now attempting to get his dirty little hands involved in the rollout of COVID-19 vaccines.
He wants more of the vaccines to be administered at a much faster pace than they are now, otherwise, hospitals will start to face the “consequences.” From Business Insider:
“New York hospitals could be fined and denied access to further COVID-19 vaccine doses if they don’t use up their supplies within a week, Gov. Andrew Cuomo said at a news conference Monday.
Hospitals could be hit with a $100,000 fine if they don’t use their current doses by Friday and will later be given seven days to administer fresh batches of doses.
Some of the state’s hospitals have used less than a fifth of their available doses, he said… The state expects 85% of nursing-home residents to have received their first dose by the end of this week.”
Unless hospitals meet their weekly quota of injecting vaccine doses into people’s arms, they will be entirely cut off from receiving any more doses. And those doses meant for your facility will be given to a hospital that can better keep up with his insane demands for vaccination.
Wouldn’t surprise me in the least bit if this idiotic policy eventually makes vaccine distribution in the state of New York even slower than before. Then again, people who vote to keep an imbecile like this Democrat demon in office deserve exactly what they get…