Bitcoin

In a recently published “Blockchain Letter” addressed to investors on August 22, renowned venture capital firm Pantera Capital, led by Dan Morehead, has offered a striking prediction that Bitcoin’s price could reach an impressive $147,843 per coin in the aftermath of the 2024 halving event. The firm employed the stock-to-flow (S2F) ratio as a model to assess and foresee potential price trends post each halving occurrence.

A long-dormant Bitcoin address from the Satoshi era has come alive, amassing a staggering $9.6 million in profits after 11 years. The address, 1MMXRA, held over 412 Bitcoins worth $8 in 2012, and the coins were finally moved in 2023, reaping a massive 120,000,000% profit at the current price of $23,000 each.