Mark Cuban: Inflation is still the fundamental reason for the rise of BTC, and BTC will become a safe haven for global funds
Billionaire and well-known investor Mark Cuban posted on social media that Trump's support for cryptocurrency is good news, but it has not really affected the price of cryptocurrency. What drives the price of BTC is lower taxes and tariffs. If history is a guide, the fundamental reason is inflation. Coupled with global uncertainty about the geopolitical role of the United States and the impact on the dollar as a reserve currency. Regarding how high it can go, Mark Cuban said that the price of BTC will be much higher than imagined. Because the BTC market is global, the ultimate limit of supply is 21 million pieces, which can be fragmented without limit. When geopolitical uncertainty increases and the size of the US dollar as a reserve currency decreases, BTC will become a global safe haven, which means that BTC may be something that countries and all of us want to buy as a means of protecting our savings. This is not crazy for a country that is already facing hyperinflation. If things really go further than imagined, then BTC becomes a global currency.
Santiment: The decline in the number of BTC holding addresses may lead to a stronger rebound
On July 18, crypto market research firm Santiment said that the number of Bitcoin wallet addresses holding BTC has been declining over the past month, but this may be good news for investors. It is reported that the number of addresses with balances greater than zero has decreased by 672,510 over the past month. Santiment said that traders may think that the all-time high in March is the highest level that can be achieved in 2024, but there is usually a rebound after a sell-off. Although the market rebounded to $65,000 this week, the number of currency holding addresses has not rebounded. When such a large-scale liquidation occurs, the possibility of a continued rebound is increasing!
Dell CEO: Bitcoin is fascinating and a legitimate financial tool
Dell Group CEO Michael Dell forwarded a video of BlackRock co-founder and CEO Larry Fink's interview with CNBC on the X platform, and called Bitcoin Fascinating Bitcoin. Larry Fink said today that he was wrong about Bitcoin five years ago, and reiterated that Bitcoin is digital gold and called it a legitimate financial instrument.
