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Celebrities That Have Invested in Bitcoin

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From what we can see, Bitcoin’s popularity will never stop to grow. The network already counts over 5 million users and thousands more are joining it with each passing day. Not only that, but 2020 and 2021 have been very beneficial for this cryptocurrency because not only did Bitcoin break the 2017 record in value with ease, but managed to go over $50,000, which is quite a mesmerizing number.

Still, many people disbelieve the power that Bitcoin has and claim that it has no value and that it is all a scam, which is not true. Many global brands accept it as a payment method – Wikipedia, Microsoft, Starbucks, and Whole Foods are just a few of those brands. As for the claim that no one actually invests in Bitcoin, we wanted to debunk this myth by naming a few celebrities that have decided to invest in it. Before we do that, let’s see how investors make money with it.

How Do They Make Money?

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There are two ways to earn Bitcoins. The first way is to buy them and the second is to mine them. Mining Bitcoins is pretty hard and complicated, but it is free, which is why many experienced traders choose this option.

In layman’s terms, mining actually involves solving complex puzzles. For each puzzle that you solve, you receive a certain amount of Bitcoins. Each solved puzzle means that you have successfully recorded and verified a Bitcoin transaction. To add to that, each transaction is called a block, while a certain amount of blocks forms a blockchain.

Once you earn them, all that is left is to sell them. This is where trading sites step in. They are not just marketplaces that act as middlemen between you and a buyer. They help you profit from rises and falls from value. Let’s take Immediate Edge as an example of how they help you.

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This particular platform uses an advanced AI system that analyzes the market and collects all data about Bitcoin. After the data is collected and filtered, the algorithms can predict Bitcoin’s future fluctuations and determine when will the cryptocurrency rise and fall in value. In doing so, traders are able to sell their Bitcoins at the perfect moment and maximize their profits.

Now, it’s time to unveil some celebrities that have invested in Bitcoin.

Logic

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The retired rapper and one of the best lyricist of the new age invested an insane amount of money back in the fall of 2020. Logic stated that he paid around $6 million to purchase Bitcoins. During this time, Bitcoin was still valued at around $10,000 per unit. Considering the fact that Bitcoin is now valued at around $50,000, we estimate that Logic has made a handsome profit from his investment.

Floyd Mayweather

When there are words such as profit and money, you know that Floyd Mayweather will stick his nose. The retired boxer and one of the wealthiest athletes has invested in this cryptocurrency. Not only that, but he also promoted cryptocurrencies a few years ago. Although he has not opened up about whether he profited from the investment or not, we firmly believe that he received a good paycheck.

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Elon Musk

Lastly, we have one of the most popular scientists in the world and the owner of Tesla and SpaceX. Elon Musk has always been a supporter of new and innovative technologies. Recently, Elon invested over $1.5 billion in Bitcoin through Tesla and stated that the company plans on accepting it as a payment method in the future. The interesting thing about this investment is that it is speculated that they’ve already netted around $1 billion in profits.

 

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Bitcoin

Bitcoin Price Analysis: BTC breaks above $65,000 all-time high, further upside to follow today?

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  • Bitcoin price analysis is bullish.
  • BTC/USD set a new all-time high at $67,000 yesterday.
  • Slight retracement to retest $65,000 as support overnight.

Bitcoin price analysis is bullish today as a higher low has been set after a retest of $65,000 as support. Therefore, we expect BTC/USD to continue higher over the next 24 hours.

Bitcoin Price Analysis: BTC breaks above $65,000 all-time high, further upside to follow today? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded with strong bullish momentum over the last 24 hours. Bitcoin gained 3.12 percent, while Ethereum gained 12.35 percent. Meanwhile, Solana (SOL) continues to dominate the market, with a gain of 20 percent.

Bitcoin price movement in the last 24 hours: Bitcoin sets new all-time high at $67,000

BTC/USD traded in a range of $63,807.96 – $66,930.39, indicating substantial volatility over the last 24 hours. Trading volume has increased by 34.33 percent and totals $49.2 billion, while the total market cap trades around $1.24 trillion, resulting in the market dominance of 46.29 percent.

BTC/USD 4-hour chart: BTC to reach $68,000 today?

On the 4-hour chart, we can see Bitcoin price slightly retracing overnight as bulls prepare for another push higher today.

Bitcoin Price Analysis: BTC breaks above $65,000 all-time high, further upside to follow today?
BTC/USD 4-hour chart. Source: TradingView

Bitcoin price action has seen steady growth so far in October. After a several-week consolidation above $41,000 at the end of September, a strong push higher was seen on the 1st of October.

Since then, BTC/USD has seen steady growth with several higher highs and lows set. From the previous major swing low of $41,000 to the current swing high of $67,000, BTC has gained around 63 percent.

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Yesterday, the previous all-time high of $65.000 was broken clearly, further indicating strength for the momentum. Overnight a slight retracement back to the $65,000 mark was seen as bears looked to retest it as support, likely before further upside is seen today.

Bitcoin Price Analysis: Conclusion 

Bitcoin price analysis is bullish as a slightly higher low has been set after a retest of $65,000 previous resistance as support. Therefore, we expect BTC/USD to continue higher over the next 24 hours.

While waiting for Fantom to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

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PayPal co-founder suggests he’s underinvested in Bitcoin while it records new ATH

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Bitcoin [BTC] did it once again. The asset broke its own record and caught the attention of the entire globe. Amidst this, PayPal’s co-founder, Peter Thiel expressed his angst over being “underinvested” in the world’s largest cryptocurrency.

The crypto industry as a whole garnered immense popularity over the last couple of years. From being closely regarded as an instrument that carries out illicit activities, to being adopted by governments across the globe, Bitcoin has certainly come a long way. Now, with a market cap of $1.2 trillion, Bitcoin stands as one of the most prominent currencies in the world.

Earlier today, BTC pushed past its previous all-time high of $64,899 and managed to hit a new high of $66,930.39. While BTC HODLers rejoiced this surge, an array of people were rather disappointed that they hadn’t poured in their money into the king coin. One of them was PayPal’s co-founder Peter Thiel.

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PayPal’s co-founder talks crypto

During a recent interview, PayPal’s Thiel revealed why he felt underinvested in the asset. He added,

“You’re supposed to just buy Bitcoin. I feel like I’ve been underinvested in it.”

The latest move of Bitcoin was lauded by the entire market. Speaking about the effects of BTC’s ongoing rally, the PayPal co-founder suggested that “we are at a complete bankruptcy moment for the central banks.”

An array of people took to Twitter and made their own predictions about Bitcoin. While some suggested that BTC was slated to endure a major fall, a few others noted that the coin could be aiming for $70K. Tesla’s Elon Musk had a rather bizarre prediction for the coin.

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The Tesla CEO’s latest tweet read,

Bitcoin’s rally certainly paved the way for several altcoins hitting new highs. Ethereum PETH], the second-largest cryptocurrency followed the footsteps of BTC and managed to hit an all-time high of $4,366.

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PayPal has played a major role in the crypto-verse in the last year. From opening doors to crypto and constantly remaining bullish about it, has pushed several assets to a new level.

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This Catalyst Could Trigger Long-Term Bitcoin Rally

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Bitcoin is surrounded by all kinds of optimistic predictions these days especially since the king coin managed to smash through all-time highs the other day.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $65,933.90.

This trigger could boost Bitcoin

Popular analyst Benjamin Cowen just said that one overlooked catalyst could ignite a big long-term rally for Bitcoin (BTC).

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During a new strategy session, the analyst analyzes the dollar index (DXY), which compares the US dollar against a basket of other major fiat currencies.

As the online publication the Daily Hodl highlighted, a weaker dollar can often imply higher prices in many assets.

He also said that one thing that could put extra bullish energy behind Bitcoin is the DXY beginning a macro trend downward.

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Cowen explained that the DXY is potentially on the edge of a bearish trend as it gets rejected from its 100-week simple moving average (SMA).

“Ideally speaking, in order to really be the best conditions for Bitcoin, we’d like to see this keep coming on down. This would be the best condition for Bitcoin and here’s the crazy thing when you talk about the US dollar currency index… Look at the actual macro range.”

He said that despite a rising DXY during the majority of Bitcoin’s lifetime, the king has still managed to maintain a long-term bullish structure.

The analyst is also analyzing what could happen if the DXY eventually entered a more considerable downtrend.

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“The dollar has more or less moved up during that time. It’s moved up, but there were a couple of key times when the dollar was moving down and that corresponded to Bitcoin bull markets.”

He continued and said the following:

“Imagine what Bitcoin could do if the dollar ended up coming back down… I think that would be incredibly bullish for Bitcoin.”

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