Bitcoin (CRYPTO: BTC) could trade as high as $180,000 between this year and next, with confirmation likely coming from holding the mid-$80,000s short term, according to analysts.
The Saylor Supply Shock Math
Prominent crypto analyst Pentoshi projected broke down the numbers behind Strategy Inc.’s (NASDAQ:MSTR) Bitcoin buying spree.
Strategy has purchased 88,568 Bitcoin so far with total holdings reaching 818,334 and a goal of hitting at least 1 million by year-end.
The average works out to roughly 730 BTC per day. Meanwhile, miners produce 450 BTC per day.
Strategy is currently on pace to buy 1.6 times the supply mined, meaning one single corporate buyer has purchased more than double the BTC created during this period.
“Obviously, at some point something has to give,” Pentoshi noted. He added that any increased buying from ETFs …
