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In a recent tweet, Jeremy DaVinci, an early Bitcoin adopter and cryptocurrency millionaire, revealed the scenario that would follow. BTC could rise To approximately $350,000 without naming any specific time frames for that.
Da Vinci named an important Bitcoin metric that he used while making his Bitcoin price predictions.
The cost of mining Bitcoin can be more than 5 times the cost of mining Bitcoin, according to DaVinci
Da Vinci stated that miners currently cost approximately $70,000 to produce one bitcoin, have better equipment and often use cheap electricity to mine.
The cryptocurrency influencer revealed that in the past bull markets, Bitcoin managed to rise more than 5 times the cost of Bitcoin mining. Therefore, taking into account that miners currently spend $70,000 to mine one Bitcoin, the price of the largest cryptocurrency could rise to $350,000 in the future if the bullish scenario described by Jeremy Da Vinci plays out. “Huge potential for the future!” He stated by talking about the price of Bitcoin. At the time of writing, Bitcoin is trading at $94,420.
Robert Kiyosaki says Bitcoin is collapsing, which is great news
Earlier this week, the famous investor and author of the popular book on financial management skills, “Rich Dad Poor Dad.” Robert Kiyosaki has moved to the X platform To publicly celebrate the collapse of Bitcoin's price as it fell below $96,000 from approximately $102,000.
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At the time, Kiyosaki tweeted that he found the news of Bitcoin's collapse fascinating. The financial expert explained his happiness by saying that Bitcoin has been put on sale and it is now possible to start buying it at a significant discount.
He also reminded the community that approximately 20 million bitcoins out of 21 million have already been mined, leaving less than 2 million bitcoins to be produced by miners. After the halving in April 2024, the Bitcoin block reward is 3,125 BTC. The final Bitcoin, according to Satoshi's plan, is scheduled to be mined in 2140.
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