Canadian billionaire Michael Novogratz is one of the most well-known Bitcoin bulls in the world. He’s been talking about its virtues for years now. Earlier this morning he joined a
about Bitcoin featuring Game of Thrones actress Masie Williams.
Williams posted a survey that saw Novogratz and Tesla CEO Elon Musk chime in and tell her to buy Bitcoin. But it's Novogratz who took things a step further and said that Bitcoin is in short supply and there are a large number of new buyers flooding the market. He believes a network effect is taking place that will see Bitcoin burst through the $20,000 mark with the next level up being $65,000 USD (or $85,000 Canadian). He even mentions he’s putting his Bitcoin where his mouth is having bought more Bitcoin at $15,800 USD.
Two Key Reasons This Bitcoin Bull Run Is Different
There are two key reasons this bitcoin bull run is different from other bull runs. First, Grayscale Bitcoin Trust now owns more than
. That’s more than 2% of all the bitcoin in existence at the moment. Institutional investment is clearly ramping up and institutional investors don’t usually buy an asset to flip it the way a day trader does. That means we have likely seen the last of lower levels of Bitcoin prices. The last time this kind of spike and the price happened in 2017, the level of institutional investment in the space wasn’t anywhere near what it is today.
The second key thing to note is that even with Bitcoin’s price skyrocketing once again, it’s not receiving anywhere near the mainstream media attention that 2017’s boom produced. As the price keeps rising, Bitcoin will no doubt venture into the public’s consciousness once again which will further act as a catalyst pushing the world’s most valuable cryptocurrency to new all-time highs.
How to Get In On the Latest Bitcoin Bull Run
If you’re looking to buy Bitcoin in Canada , look no further than
Netcoins
. It’s free to register .
Create an account, fund it with an e-Transfer (other funding options available), and head to the trade page to buy or sell bitcoin. Netcoins is a fully regulated, publicly owned crypto trading platform.
You can make a deposit using other cryptocurrencies you may already own, or by registering a direct debit transaction, Interac e-transfer or simply by using a major credit card. Get in on the revolution today.
Thanks for reading. For more blogs on all things in Bitcoin, you can read more here.
Written by: Jack Choros
Writer, content marketing at Netcoins.
The information provided in the blog posts on this platform is for educational purposes only. It is not intended to be financial advice or a recommendation to buy, sell, or hold any cryptocurrency. Always do your own research and consult with a professional financial advisor before making any investment decisions. Cryptocurrency investments carry a high degree of risk, including the risk of total loss. The blog posts on this platform are not investment advice and do not guarantee any returns. Any action you take based on the information on our platform is strictly at your own risk. The content of our blog posts reflects the authors’ opinions based on their personal experiences and research. However, the rapidly changing and volatile nature of the cryptocurrency market means that the information and opinions presented may quickly become outdated or irrelevant. Always verify the current state of the market before making any decisions.
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