The crypto market looks pretty mixed today with some coins trading in the red and others in the green.
At the moment of writing this article, Bitcoin is trading in the red and the most important coin out there is priced at $9,554.60.
There have been all kinds of predictions regarding the price of BTC, especially following the halving event which took place back in May. Now, experts are waiting to see BTC re-testing the important $10k level.
This is an important FOMO-triggering level.
PlanB reveals why he remains anonymous
It’s been reveled that the first analyst who applied the stock-to-flow ratio to Bitcoin said that there are two reasons for which he decided to remain anonymous.
In a new interview with In Gold We Trust, PlanB revealed his fans the fact that this day job is part of the reason for which it’s best to maintain his anonymity.
“I am both an analyst and investor at an investment officer of a large institutional investor in the Netherlands. As a team we invest USD 50+ billion AUM,” he said.
PlanB continued and explained: “My main focus is on mortgages, loans, and structured finance. I do not want my employer to have any negative consequences from my Bitcoin ‘hobby’. Also, I consider it good operational security to remain anonymous.”
And it is not just GS. GS presentation is how my employer and many other institutions look at bitcoin: too volatile, a bubble, tulip mania (of course no log scale..), can be hacked (refer to QuadrigaCX..), ponzi, darknet, illicit, ransomware, money laundering etc. Long way to go!
— PlanB🔴 (@100trillionUSD) May 27, 2020
PlanB became one of the most important and popular analysts in the crypto space back in 2019 when he showed that the stock-to-flow model, which divides the total supply of an asset by its annual production, forecasts that BTC is on its way to $1 million by early 2028.
Bitcoin recently made headlines when JPMorgan said that the king coin is undervalued in a recent report.
Based on Bitcoin’s price when the report was published, JPMorgan said that the intrinsic value of BTC is $11,593.
Stay tuned for more BTC-related news.
Leave a Reply