PakGazette – In a recently posted tweet, Jeremie Davinci, an early adopter and cryptocurrency millionaire, has revealed the scenario in which BTC may skyrocket to approximately $350,000 without naming any particular time frame for that.
Davinci named an important Bitcoin metric that he used when putting together his Bitcoin price outlook.
Bitcoin can reach more than 5 times the mining cost of BTC, according to Davinci
Davinci stated that it currently costs miners approximately $70,000 to produce one Bitcoin, they have better equipment and often use cheap electricity to mine.
The crypto influencer revealed that in previous bull markets, Bitcoin managed to increase the mining cost of BTC by more than 5 times. Therefore, taking into account that miners currently spend $70,000 to mine one BTC, the price of the largest cryptocurrency can skyrocket to $350,000 in the future if the bullish scenario described by Jeremie Davinci develops. “Enormous potential ahead!” he stated talking about the price of Bitcoin. At the time of writing, Bitcoin is changing hands at $94,420.
Bitcoin is collapsing, big news, says Robert Kiyosaki
Earlier this week, renowned investor and author of the popular financial management skills book “Rich Dad Poor Dad,” Robert Kiyosaki, took to platform $96,000 from approximately $102,000.
At the time, Kiyosaki tweeted that he thought the news about Bitcoin’s crash was great. The financial guru explained his joy by saying that Bitcoin went on sale and now it is possible to start buying it at a huge discount.
He also reminded the community that almost 20 million Bitcoins have already been mined out of 21 million, leaving less than 2 million BTC for miners to produce. After the April 2024 halving, the Bitcoin block reward constitutes 3,125 BTC. The last Bitcoin, according to Satoshi’s plan, will be mined in the year 2140.
