Olumide Adesina, an investment and financial markets analyst at Nairametrics has made a bullish comment about Bitcoin in an interview with the CryptoTVPlus host; Tony Obiajuru while on the Inside Blockchain show this morning.
While asked about the condition of the Bitcoin markets and his predictions, Mr. Olumide asserted the fact that “institutional investors are coming in already”. He cited the instance of Tesla investing a whooping sum of $1.5 billion dollars into the first cryptocurrency by market capitalization which is responsible for the recent surge in price of the asset (Bitcoin) from about $37k to $45k+.
See also: Blockchain Industry Coordinating Committee of Nigeria (BiCCoN) Addresses CBN, SEC Position on Cryptocurrency
Apart from the case of Tesla, he also mentioned MicroStrategy; a software giant company that has always been at the frontline when it comes to bitcoin investment in large amounts. The company was said to have allocated a reasonable amount of its treasury in Bitcoin and also rolled plans in motion to add more along the line.
Grayscale, a hedge fund investment company is another large volume bitcoin investor that was mentioned by Olumide on the show. Grayscale has hedge funds in Bitcoin and other cryptocurrencies such as Ethereum ($ETH), Litecoin (LTC), Bitcoin Cash ($BCH) among others.
He went on to state on the show that Bitcoin has been bullish overtime and no financial asset has given the returns that Bitcoin gave within the time it has existed;
“No asset in the financial markets has given the returns on investments Bitcoin has given within the short period of its existence…Bitcoin is bullish in long term”.
He went on to state that the markets have been good overtime and that weekly retail traders/investors in for short term gains should risk what they can afford to lose.
Frank Deya Says Bitcoin Might See $25,000 in the Coming Months
A correspondent from East Africa, Frank Deya has said on the Inside Blockchain show this morning while in an interview that Bitcoin might see as low as $25,000 in the coming months. He made this statement while he was asked about predictions of the Bitcoin markets.
He stated the asset might drop that low when the institutional investors start taking profit off their large volume investments;
“We should see Bitcoin go to $25,000 in the coming months when these institutional investors start taking profits…”
