Bloomberg Sees $400K Bitcoin, Zuck Sold As NFT Bear, Filecoin Explodes

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Mike McGlone, senior commodity strategist at Bloomberg Intelligence, is quite the name in the analyst market. As he admits that institutions are now seeing Bitcoin as a possible risk-off investment, the man has launched a chart which predicts a future Bitcoin price, based on historical patterns, of about $400k by the end of 2021.

McGlone stated:

Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view.

#Bitcoin in Transition to Risk-Off Reserve Asset: BI Commodity — Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view. pic.twitter.com/Ycr1LSqEAJ

— Mike McGlone (@mikemcglone11) March 26, 2021

As he tweeted out that comment, Bitcoin itself has been rising in the past day and now trades at $55k. The rest of the top ten at CoinMarketCap is also rising several percentage points.

NFT Bear

Facebook’s Mark Zuckerberg, Spotify’s Daniel Ek and Shopify’s Tobi Lütke received the “honey bear” treatment after they all showed up on audio social networking app Clubhouse on March 18.

NFTs are indeed a Thing, one of those honey bears you see everywhere in SF just sold for a boat load of money https://t.co/MuZodS3fr0

— Dan Gentile (@Dannosphere) March 26, 2021

The artist who made the image explained on social media platforms how he was inspired by Gavin Belson’s iconic words in Silicon Valley that the bear is sticky with honey.

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NFT (Non-Fungible-Tokens) are everywhere right now, and making one of Zuckerberg proved to be lucrative as the image showing the three bears sold for $64k.

Filecoin interest up

With Bitcoin in such high regard with institutional investors, many Wall Street analysts are looking for the next crypto unicorn already and from time to time you can thus see an altcoin make incredible jumps. Today that seems to be the case for Filecoin which trades upward some 38%.

Filecoin surpassed $100, benefiting a large number of Chinese miners and investors. Reasons: the first investor token will be released over, Coinbase launched new storage tokens, the dual mining test of Filecoin and LPT started, the cooperation between Filecoin and LINK, etc. pic.twitter.com/XAaUXiC5bI

— Wu Blockchain (@WuBlockchain) March 26, 2021

However, it’s not the Americans that are letting the price increase, but rather the Chinese. Filecoin has seen incredible interest from Chinese miners and investors as of late.

Wu Blockchain, the Chinese journalist who informs the world about crypto mining in his country, said about Filecoin:

A lot of Chinese funds are entering.