On Tuesday, Bitcoin surprised market participants once more by tackling and maintaining $19,000 as support for much of the day. After hitting $19,420, subsequent performance was less self-assured, and a retracement overnight bottomed out at below $18,700. As was the case with $18,000, however, a rebound saw the focal level return, and at press time, Bitcoin had already beaten its previously daily high, aiming for $19,500 before a fierce rejection.
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Another big mainstream investor, Blackrock CIO Rick Rieder, says bitcoin outshines gold (Photo: Twitter)BlackRock CIO Rick Rieder argues Bitcoin could replace gold
The chief investment officer of the world’s largest asset management firm admits he cannot estimate Bitcoin’s value, but recognizes that it may be a better store of value than gold
The chief investment officer at the world’s top asset manager, BlackRock, argued that Bitcoin may be a better store of value than gold. “It's hard to say whether it's worth the price it is trading at today. But do I think it is a durable mechanism that—do I think could replace gold to a large extent? Yeah I do, because it's so much more functional than passing a bar of gold around.”
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MicroStrategy doubles down, invests another $175M in Bitcoin
The mainstream firm made headlines in August when it announced that it had bought $250 million in BTC as an inflation hedge
In announcing its initial $250 million purchase on Aug. 11, CEO Michael Saylor said the investment was an inflation hedge, calling Bitcoin “a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”
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Twitter trusts Gold bug Peter Schiff's 18-year-old anarcho-capitalist son over him when it comes to Bitcoin (Photo: SchiffGold)To Peter Schiff’s disgust, his son buys Bitcoin
Schiff’s son holds some quite radical views on economy, but Twitter trusts the 18-year-old kid more than the famous gold bug
In his Sept. 7 tweet, Schiff also started a poll asking Twitter: “Whose advice do you want to follow? A 57-year-old experienced investor/business owner who's been an investment professional for over 30 years or an 18-year-old college freshman who's never even had a job.”
