Bitcoin Could Soar to ₹99 Lakhs if Oil Prices Hold Steady, Says Analyst

Bitcoin Price Prediction: Riding the Oil Wave?

Cryptocurrency markets are abuzz with speculation, with one analyst suggesting that Bitcoin (BTC) could potentially reach $119,000 (approximately ₹99 lakhs) if current patterns in oil prices persist. This bullish outlook hinges on a correlation observed between traditional energy markets and the leading cryptocurrency. Investors are keenly watching both sectors to gauge future price movements.

SharpLink Gaming Makes a Bold Move into Ethereum

In a significant development highlighting institutional interest in digital assets, SharpLink Gaming has reportedly acquired $463 million (approximately ₹3,860 crore) worth of Ether (ETH). This substantial investment underscores the growing confidence of corporate entities in the long-term potential of Ethereum and the broader blockchain ecosystem. Experts believe this move could catalyze further adoption of cryptocurrencies by major players.

Pompliano Eyes ₹6,250 Crore Bitcoin Fundraise

Anthony Pompliano, a prominent figure in the cryptocurrency world, is reportedly planning a significant venture. Sources indicate he is exploring the launch of a new Bitcoin-buying vehicle with the aim of raising a staggering $750 million (approximately ₹6,250 crore). This ambitious initiative reflects the continued appetite for Bitcoin investment despite market volatility.

ProCapBTC: A New Player in the Bitcoin Arena?

Pompliano is expected to lead ProCapBTC, a special purpose acquisition company (SPAC) set to merge with Columbus Circle Capital 1, a publicly traded entity. The proposed merger could see ProCapBTC raise $500 million (approximately ₹4,167 crore) in equity and $250 million (approximately ₹2,083 crore) in convertible debt. This potential deal, backed by Cohen&Company investment bank, signals a growing trend of traditional finance embracing the digital asset space. Further details and negotiations are still underway.