March 28, 2024

PlanB will keep its bitcoins up to $ 1 million

Cryptanalyst known for pioneering the use of reserve-to-flow (S2F) model for forecastingtrajectory of bitcoin, said that he was ready to part with his bitcoins at a certain price level.

PlanB informed its 517,300 subscribers that it is ready to hold the leading crypto asset either at its target price level or at zero level:

«I view my Bitcoin investment as a call option. I will either bring it to zero or to $1 million and determine my (initial) position.

If previously a cryptocurrency analyst predicted,that, based on the Stock-to-Flow model, bitcoin will reach $ 100,000 and even $ 288,000, now his attention is focused on the fact that the upside potential of bitcoin exceeds the risks of movement in the opposite direction.

«I am less interested in 100–288 thousanddollars because I'm focused on the 2024 halving and beyond. I don't care about volatility, the key is asymmetrical returns ($0 vs $1 million)».

PlanB also added that last week's Bitcoin sell-off caused huge losses in the tens of billions of dollars.

«So what happened in May?Weak hands sold about 1 million BTC in May at $30K to $35K... which they bought in April at $55K to $60K and suffered a staggering loss of about $20B. Good news: those 1M BTC are now in strong hands hands. For [beginners], this instability may be too critical. We all know what kind of people were selling in May. It's always the same characters.

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