BlackRock and Coinbase deal could spark Bitcoin surge to $773,000, according to InvestAnswers


A popular crypto analyst is analyzing how a partnership between two financial giants could trigger Bitcoin (BTC) to explode to $773,000.

Last week, U.S.-based cryptocurrency giant Coinbase announced a partnership with BlackRock, the world’s largest asset manager, to bring cryptocurrency trading to wealthy clients.

In a new strategy session, the host of InvestAnswers told his 443,000 YouTube subscribers that the partnership could boost Bitcoin’s market cap by at least $1 trillion.

“If BlackRock were to put 0.5% of its assets under management into Bitcoin using my 21x multiplier, that would impact a market cap of $1.05 trillion, which would increase Bitcoin’s price by about $75,000, bringing it to $98,000, And the ROI (return on investment) is 326% from today’s price. It’s very, very achievable…

Now, if they allocate 1%, which of course will take time to get to that level, it will add about $2.1 trillion to the market cap and $150,000 to the price, which will give Bitcoin a future price of $173,000, which is a bit of a move from here Gain 652%.

If they increase by 5%, which is what Dan Tapiero said, I think that’s too aggressive. Maybe over time, maybe in the next three to five years, that’s possible. This would easily push the price of Bitcoin to $773,000 over the next three to five years. “

Source: InvestAnswers/YouTube

The crypto strategist’s analysis was inspired by comments from 10T Holdings CEO Dan Tapiero. A deal between BlackRock and Coinbase could push Bitcoin above $250,000, according to prominent macro investor,

“This chart has BlackRock excited about the partnership with Coinbase!

For BlackRock, there is no bigger macro opportunity than taking action to boost Bitcoin adoption. [A] A 5% transfer of BLK assets is $500 billion, which is higher than the value of BTC today. Catalyst for BTC to reach above $250,000 after halving becomes clear. “

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resource: Dan Tapiero/Twitter

BlackRock currently manages $10 trillion in assets.

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