“One Bitcoin Will Reach $1,000,000,000 By This Date” – Fidelity

Bitcoin Price Surges to $36,000 as Fidelity Predicts $1 Billion Price Target

In today’s episode of the Bitcoin Pod, we discuss the recent surge in the price of Bitcoin, reaching $36,000. We also cover the latest news from the FOMC meeting, where the Federal Reserve announced its target for Bitcoin. Additionally, we discuss the ongoing trial of Sam Bankman-Freed, the former CEO of FTX, who is facing charges of fraud and conspiracy.

In other news, Coinbase has launched a regulated crypto futures service for US retail traders, while PayPal has obtained a crypto license in the UK. We also discuss the recent filing of a Bitcoin ETF by Invesco Galaxy, as well as Fidelity’s updated Bitcoin ETF application. Fidelity’s head of macro, Juran Timmer, predicts a $1 billion price target for Bitcoin by 2038.

Bitcoin’s Price Surge and FOMC Target

Bitcoin has experienced a significant surge in price, reaching $36,000. This comes as the Federal Reserve announces its target for Bitcoin, with the FOMC meeting predicting a continued rise in price. The surge in Bitcoin’s price is seen as a result of increased demand and limited supply, with Bitcoin outperforming gold as a store of value.

Sam Bankman-Freed Trial and Fraud Charges

The trial of Sam Bankman-Freed, the former CEO of FTX, is ongoing, with prosecutors presenting closing arguments. Bankman-Freed is facing charges of fraud and conspiracy, with prosecutors alleging that he deceived investors and customers of FTX. The trial is expected to conclude in the coming days, with a verdict to be reached by the jury.

Coinbase Launches Regulated Crypto Futures Service

Coinbase has launched a regulated crypto futures service for US retail traders. This allows traders to access regulated crypto futures contracts, providing a more stable and regulated way to invest in Bitcoin. The service is available on the web version of Coinbase and will soon be available on all mobile devices.

PayPal Obtains Crypto License in the UK

PayPal has obtained a crypto license from the Financial Conduct Authority in the UK. This allows PayPal to offer crypto services to its customers in the UK, providing them with the ability to buy and sell Bitcoin. The UK has emerged as a major crypto economy, with London being the most crypto-ready city for business.

Invesco Galaxy Bitcoin ETF Filing

Invesco Galaxy has filed for a Bitcoin ETF, with the ticker symbol BTCO. The filing has been added to the list of ETF products on the Depository Trust and Clearing Corporation website, marking a step forward in the application process. The approval of a Bitcoin ETF is highly anticipated, as it would provide a more regulated and accessible way for investors to enter the crypto market.

Fidelity’s $1 Billion Bitcoin Price Prediction

Fidelity, one of the world’s largest asset managers, has predicted a $1 billion price target for Bitcoin by 2038. Juran Timmer, Fidelity’s head of macro, used a combination of models and charts to support this prediction. Fidelity’s research highlights the qualities of Bitcoin as the best form of money and its potential to dominate the market.

Frequently Asked Questions (FAQs)

Q: What is the current price of Bitcoin?
A: The current price of Bitcoin is $36,000.

Q: What is the FOMC target for Bitcoin?
A: The FOMC has set a target for Bitcoin, predicting a continued rise in price.

Q: What is the status of Sam Bankman-Freed’s trial?
A: Sam Bankman-Freed’s trial is ongoing, with prosecutors presenting closing arguments. The trial is expected to conclude in the coming days.

Q: What services has Coinbase launched for US retail traders?
A: Coinbase has launched a regulated crypto futures service for US retail traders, providing access to regulated crypto futures contracts.

Q: Has PayPal obtained a crypto license in the UK?
A: Yes, PayPal has obtained a crypto license from the Financial Conduct Authority in the UK, allowing it to offer crypto services to its customers in the UK.

Q: What is the latest on the Invesco Galaxy Bitcoin ETF filing?
A: Invesco Galaxy has filed for a Bitcoin ETF, with the ticker symbol BTCO. The filing has been added to the list of ETF products on the Depository Trust and Clearing Corporation website.

Q: What is Fidelity’s prediction for the price of Bitcoin?
A: Fidelity predicts a $1 billion price target for Bitcoin by 2038, based on a combination of models and charts.

In conclusion, Bitcoin’s price surge continues, reaching $36,000, as Fidelity predicts a $1 billion price target for the future. The ongoing trial of Sam Bankman-Freed and the launch of regulated crypto services by Coinbase and PayPal further demonstrate the growing acceptance and adoption of Bitcoin. The filing of a Bitcoin ETF by Invesco Galaxy and Fidelity’s updated Bitcoin ETF application indicate the increasing interest of major asset managers in providing regulated access to the crypto market. Overall, the future looks promising for Bitcoin as it continues to gain traction and recognition as a valuable asset.