Technology

Will Bitcoin tap $119K if oil holds? SharpLink buys $463M ETH: Hodler’s Digest, June 8 – 14

Posted on by Minakshi

Bitcoin to ₹99 Lakhs? Analyst Predicts Price Surge if Oil Trends Continue

Could Bitcoin be heading towards a monumental surge, potentially reaching ₹99 lakhs (approximately $119,000)? One analyst suggests this ambitious target is achievable if current oil price patterns persist. The forecast has sparked considerable buzz among Indian crypto investors, always keen on capitalizing on potential bull runs.

SharpLink Gaming Makes Massive Ethereum Investment

In other significant cryptocurrency news, SharpLink Gaming has reportedly acquired a staggering ₹38,53 Crores (approximately $463 million) worth of Ether. This large-scale investment signals growing institutional interest in Ethereum, the second-largest cryptocurrency by market capitalization, and its potential for future growth within the gaming and metaverse sectors.

Anthony Pompliano Eyes ₹6,245 Crore Bitcoin Investment Vehicle

Renowned cryptocurrency entrepreneur, Anthony Pompliano, is reportedly planning a new Bitcoin buying vehicle, aiming to raise a substantial ₹6,245 Crore (approximately $750 million). Pompliano is expected to lead ProCapBTC, a special purpose acquisition company, as it merges with Columbus Circle Capital 1.

Under Pompliano’s potential leadership, ProCapBTC would aim to raise ₹4,163 Crore (approximately $500 million) in equity and ₹2,081 Crore (approximately $250 million) in convertible debt, supported by Cohen&Company investment bank.

Summary:

  • Bitcoin could hit ₹99 Lakhs if oil price trends continue.
  • SharpLink Gaming acquires ₹38,53 Crores worth of Ether.
  • Anthony Pompliano plans ₹6,245 Crore Bitcoin investment vehicle.
Key Takeaways:

  • Institutional investment in Ethereum is growing significantly, evidenced by SharpLink’s large purchase.
  • Bitcoin’s price could be influenced by factors outside the crypto market, like oil prices.
  • Large-scale investments highlight confidence in Bitcoin’s long-term potential.
  • The launch of new Bitcoin investment vehicles could drive further adoption and price appreciation.