The price of Bitcoin is approaching $60K. At the time of writing, it stands at $57.2K.
The buying fever of financial giants such as BlackRock and Fidelity for Bitcoin explains this upward thrust in the price of Bitcoin, which nothing seems able to stop in the immediate future.
Every day, more BTC units are absorbed by these financial giants.
Whether this is a good thing or a bad thing from the point of view of the Bitcoin revolution and the fact that it takes us further away from everyday use of Bitcoin as a means of payment and exchange by the general public, we have to admit that it's happening.
BlackRock has just held a private event at which several strong ideas were pushed to institutional investors.
The BlackRock analyst himself explained that a 28% allocation to BTC in a portfolio is "not unreasonable".
The analyst is promoting BlackRock's Bitcoin ETF here, but it should serve as an electroshock to the general public that Bitcoin is now an opportunity not to be missed.
The key here is to get the message across that ownership of Bitcoin only exists when it's done directly by taking possession of the private keys. Not an easy task, but it's the message we need to get across as Bitcoiners.
Even more interesting is the fact that, despite the current price of Bitcoin, the term "How to buy Bitcoin" is at a very low level on Google Trends.
This is a far cry from the level reached in the summer of 2023, the level reached at the end of 2022 when the FTX scam came to light, and even farther from the level reached at the end of 2017 when the price of Bitcoin practically reached $20K for the first time.
Just imagine what's going to happen to the Bitcoin price when the fourth Bitcoin Halving takes place and retail investors start coming in to buy Bitcoin.
It's going to be massive, and forecasts of a Bitcoin price above $100K by the end of 2024 are gaining momentum in my opinion. Tom Lee of Fundstrat even believes that the price of Bitcoin could reach $150K due to the combination of the first two factors, Bitcoin ETFs and Bitcoin Halving.
To these two factors, we must add the Fed's monetary policy pivot, which will probably take place in mid-2024.
In short, all factors will converge at the same time to push the price of Bitcoin to heights never seen before.
Throughout this unprecedented bullish surge, the key will be to prevent people from ending up lost in Sh*tcoins by giving in to greed, as happens in every Bull Market.
To do this, the key will be to remind people again and again of the profound meaning of the Bitcoin revolution, and above all, that the purpose of Bitcoin doesn't change whatever the price of Bitcoin in weak money.
In the end, this only serves to attract more users, whom we need to awaken to our goal: the development of a circular economy based on the Bitcoin system, so that we have a genuine alternative to the debt-based system, which is flawed and not fixable.
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