Author: The Daily Hodl

Analysts at the investment management giant VanEck think Bitcoin’s price (BTC) could skyrocket to $2.9 million by 2050. For that to happen, BTC will need to become a key part of the international monetary system, according to Matthew Sigel, VanEck’s head of digital assets research, and Patrick Bush, a senior investment analyst at the firm. “We expect BTC to be widely used in international trade, becoming a significant medium of exchange and a valuable store of wealth. This leads to a Gresham’s Law-like feedback loop: as BTC becomes more useful and valuable, central banks and long-term investors will want to…

BlackRock executive Samara Cohen thinks Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) will be allocated to model portfolios by the end of this year and into 2025. Model portfolios are a basket of different investments crafted by a financial advisor, according to the financial services firm Morningstar. Cohen, BlackRock’s chief investment officer of ETFs and index investments, says in a new interview with Bloomberg that large wirehouses like Morgan Stanley, Wells Fargo and UBS are currently conducting due diligence and looking at risk analytics for the top two crypto assets. “They look at them very differently of course, because…

Nearly a billion dollars in token unlocks are set to hit crypto markets in August, according to the latest numbers. Citing data from TokenUnlocks, blockchain reporter Colin Wu reports that over $900 million in unlocks are ready to be released next month. Some of the largest unlocks include those from decentralized exchange (DEX) dYdX, layer-one blockchain Sui, and Ethereum (ETH) layer-2 Arbitrum (ARB). The largest token unlock in the next seven days is from the cross-chain interoperability protocol Wormhole, which will release $154 million in W tokens representing 33% of the supply. Analytics firm IntoTheBlock recently reported that projects like…

The chief investment officer of crypto asset management firm Bitwise says a sea-change in crypto has taken place, increasing the likelihood of upside moves. In a new blog post, Bitwise CIO Matt Hougan says the digital industry is “not bullish enough” as blue-chip and government interest in digital assets ramps up. According to Hougan, the thought of Congress passing clear crypto guidelines and Wall Street players embracing crypto on a larger scale are no longer fantasy scenarios. “As crypto investors, we spend a lot of time focused on downside risk. We’re all acutely aware that, at any moment, an event…

Venture capitalist Chris Burniske believes Solana (SOL) can soar to a four-figure price this market cycle. The former head of crypto at ARK Invest tells his 296,900 followers on the social media platform X that a bull market price target of $1,000 for Solana could be “conservative.” Burniske’s massive price target for Solana comes as a poll he ran on X showed that investors on the platform are overweight on SOL. Earlier this week, Burniske asked his followers that of three, what’s their biggest holding: Bitcoin (BTC), Ethereum (ETH) or Solana? The survey, which had 21,945 votes, shows that 35.4%…

New data from crypto analytics firm Kaiko reveals that traders are flocking toward bullish Bitcoin (BTC) bets for the upcoming presidential election. In a new paper, the Kaiko team finds that derivatives traders are placing tens of millions of dollars worth of bullish BTC bets on crypto options exchange Deribit’s new election contracts. “Options traders flocked to bullish bets on BTC for Deribit’s new US election contracts. The options contracts, which expire on November 8, three days after the US Presidential elections, went live on July 18. Traders bought $41 million worth of BTC calls on Tuesday, July 23. Weekend…

A popular analyst known for his timely crypto calls says that the stars are aligning for Bitcoin (BTC) to make a new push to all-time highs. Pseudonymous trader Pentoshi tells his 799,900 followers on the social media platform X that central bank money printing could push Bitcoin center stage for its scarcity and send it to new highs. “Believe it to only be a matter of time before BTC hits a new ATH. Look at the last six months alone: an exchange-traded fund (ETF) approval, which has been the most successful ETF in history, and now capturing a large portion…

Rich Dad Poor Dad author Robert Kiyosaki is warning that California faces a dire fiscal situation and that other states could soon fall on hard times as well. Kiyosaki tells his 2.6 million followers on the social media platform X that California’s worsening economic picture could bring devastating service cuts. “California is a bellwether state. That means what happens in California happens to the rest of the US. The problem is California is going broke. California will begin raising taxes and cutting subsidies to the poor, to prisons, environmental problems and teachers unions. That means crime will spread as police…

The founder and CEO of crypto-focused financial services firm Galaxy Digital, Mike Novogratz, is outlining what could happen to the digital asset space after the US general election. In a new interview on Bankless, Novogratz says that after the November election, the crypto is likely to get friendlier regulation and less hostile regulators. “I think the next big thing to happen is post this election, no matter who wins, you’re going to get some version of a market structure bill passed… and I’m praying, and I’m thinking you’re going to get new direction at the Office of the Comptroller of…

The US government has reportedly moved more than $2 billion worth of Bitcoin (BTC) seized from the illicit online marketplace known as the Silk Road. The blockchain de-anonymizing platform Arkham Intelligence notes the government sent 10,000 BTC worth $669.35 million to one address and 19,800 BTC worth $1.33 billion to another. Arkham says the coin shifting likely represents “a 10,000 BTC deposit to an institutional custody/service.” The move comes as multiple presidential candidates outline their plans for the government’s Bitcoin holdings. Former President Donald Trump said over the weekend that he plans to stop the government from selling off its…