Andrew Tate asserts that the Bitcoin bull run hasn’t started yet, despite BTC reaching a new all-time high amid growing institutional interest.
Andrew Tate recently expressed his opinion on the future of Bitcoin, positing that the genuine BTC bull run has yet to commence. Tate underscored that this rally is merely the commencement as Bitcoin reached an all-time high (ATH) of $89,229, propelled by robust buying momentum. He contended that the broader market still needs to comprehend the deflationary nature of Bitcoin, which is where its actual value is derived.
Andrew Tate Predicts That Bitcoin’s True Value Is Still Untapped; Will It Rally to Infinity?
Andrew Tate recently stated in a post that the genuine BTC bull run will commence when holders perceive fiat currency as “junk” and perceive no reason to sell their holdings. Tate contends that the purchasing power of Bitcoin will increase over time as fiat currencies lose value due to their deflationary design.
Furthermore, Bitcoin advocates think this will inevitably result in a “hold forever” mentality among investors, propelling the Bitcoin price to “infinity.”
Andrew Tate was adamant:
“Prices of everything in the world are going DOWN vs BTC. So why not hold? It’s deflationary. You can’t sell BTC for other investments as they ALL underperform vs BTC.”
Tate also observed that the prices of conventional assets, such as real estate, are declining as Bitcoin’s value increases. Andrew Tate predicts that the Bitcoin bull run will accelerate beyond current predictions when the average holder fully realizes this potential.
BTC Achieves New Highs as Institutional Interest Increases
According to Andrew Tate’s commentary, Bitcoin has reached an all-time high of $89,229, an 11% increase in the past 24 hours. This rise has been attributed to robust purchasing momentum, indicating a resurgence in interest from institutional and retail investors. The company’s market capitalization is approaching $1.77 trillion, and the increasing demand has further increased its allure as a long-term investment.
Due to potential pro-crypto regulatory developments, veteran trader Peter Brandt and investment firm Bernstein anticipate that the crypto price could reach $200,000 after the BTC bull run. The optimism surrounding Bitcoin has been bolstered by the anticipated positive policy changes during Donald Trump’s presidency.
Similarly, Matt Hougan, the Chief Investment Officer at Bitwise, expressed his conviction that Bitcoin could ultimately surpass $1 million. The post-halving supply cutbacks of Bitcoin have resulted in a supply shock due to the reduction in the number of coins entering circulation, according to Hougan. As a result of this scarcity effect, institutional investors and increased interest continue to elevate its value.
Further, MicroStrategy has recently acquired an additional 27,200 BTC, valued at over $2 billion, increasing its total holdings to 279,420 BTC. MicroStrategy’s stock value has increased by 8% due to this acquisition.
An economist and critic, Peter Schiff, conveyed apprehensions regarding a proposed U.S. Bitcoin reserve despite the BTC bull reaching new highs and Andrew Tate’s optimistic outlook. Schiff contends that the government’s proposed initiatives will undermine the currency. Schiff cautions that a Bitcoin reserve could result in an excessive reliance on BTC, which he considers a risk.
