Anthony Scaramucci, the founder of SkyBridge Capital, has shared on his X/Twitter account his viewpoint that it’s essential to own Bitcoin now due to recent significant advancements.
Instead of “it is a ‘question of brains’ now,” you could also say “it requires intelligence to hold Bitcoin these days.”
It took guts to own #Bitcoin before now. From here out it’s a question of brains.
— Anthony Scaramucci (@Scaramucci) April 24, 2024
Scaramucci is highlighting that both the increased demand from bitcoin Exchange-Traded Funds (ETFs) and the recent Bitcoin halving event have significantly impacted the cryptocurrency market. The halving has decreased the production of new Bitcoins, while the ETFs have boosted demand. This “supply crunch” and “demand surge” are now set to intersect.
A tweet from Scaramucci ignited passionate reactions among his large audience. Some enthusiastically expressed their support for Bitcoin, confirming their ownership. However, one person brought up Scaramucci’s investment in the FTC exchange and questioned whether it was courage or wisdom behind the decision.
Omega candles inevitable now: Samson Mow
Samson Mow, Bitcoin advocate and CEO of JAN3, previously served as Blockstream’s Chief Strategy Officer, recently discussed with Forbes his anticipation of “Omega candles” following Bitcoin’s latest halving event.
Mow explained to Forbes the concept of Bitcoin’s halving and the role miners play in releasing fresh coins into circulation. With the initiation of Bitcoin’s fifth cycle, the reward for mining new blocks has been cut in half – from 6.25 Bitcoins to 3.125 Bitcoins. This recurring event every four years makes Bitcoin a more scarce currency (unlike the U.S. dollar and other fiat currencies), thereby prolonging its issuance in the market.
Before the Bitcoin halving occurred, ETFs bought roughly 5 to 15 times the amount of Bitcoin generated daily by miners (approximately 900 BTC prior to the event). Mow explained that these acquisitions led to a significant increase in Bitcoin demand.
Mow mentioned that Omega candles, which are significant trading candles known for their high volatility and considerable price changes in Bitcoin, are anticipated to appear soon according to his latest expectations.
Currently, Bitcoin is being bought and sold for around $66,392 following a nearly 9% increase since the halving event.
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2024-04-24 16:06