Bitcoin’s Potential Surge to ₹99 Lakh Hinges on Oil Prices; SharpLink Invests Heavily in Ether

Bitcoin Price Prediction: Oil Correlation Could Propel Crypto to New Heights

Could Bitcoin reach unprecedented levels? One analyst suggests that if historical patterns between Bitcoin and oil prices hold, we could see Bitcoin soaring to a staggering $119,000 (approximately ₹99 Lakh). This prediction is based on a correlation between the two asset classes, where a specific movement in oil prices has previously been followed by a corresponding surge in Bitcoin value. Market watchers across India are keenly observing this trend, as such a rally could significantly impact the Indian cryptocurrency market.

SharpLink Gaming Makes Massive ₹3,850 Crore Bet on Ether

In a bold move highlighting growing institutional interest in cryptocurrencies, SharpLink Gaming has reportedly acquired $463 million (approximately ₹3,850 Crore) worth of Ether (ETH). This substantial investment signals confidence in the long-term potential of Ether and the Ethereum blockchain. This development may embolden other Indian companies to consider investments into digital assets.

Anthony Pompliano Eyeing ₹6,250 Crore for Bitcoin Investment Vehicle

Cryptocurrency entrepreneur Anthony Pompliano is reportedly exploring the launch of a new Bitcoin-buying vehicle with the aim of raising $750 million (approximately ₹6,250 Crore). Pompliano is expected to lead ProCapBTC, a special purpose acquisition company (SPAC), seeking a merger with Columbus Circle Capital 1. The objective is to raise significant capital to invest directly in Bitcoin.

Under discussion, ProCapBTC would aim to raise $500 million in equity and $250 million in convertible debt in the Columbus Circle Capital 1 merger, with backing by Cohen&Company.