The world’s most profitable company, today announced that it is going public, in what could be the biggest ever IPO. The oil giant, Saudi Aramco, posted an H1 profit of $46.9bn in 2019, compared to Apple’s $21.6bn in the same period. But one imagines that return on investment will still pale into insignificance compared to Bitcoin.
Following last week’s contested Xi-pump, could bitcoin price capitalize on the move and post further gains?
Analysts were coming out of the woodwork with increasingly bullish price predictions, including one which had BTC priced in the millions, but was over a decade away. Perhaps more tangible was a target of $20k by the end of 2019.
Fundstrat’s Tom Lee declared the interim ‘risk-off’ to have ended and the bull market resumed. BTC price, of course, had other ideas, and trickled back downwards, though crucially, support held at $9k.
Binance CEO, CZ, said that bitcoin price would hit $16k ‘soonish’, although it won’t be soon enough to prove the 4Chan ‘wizard’ prediction, which was proven wrong this week. There is no suggestion that CZ’s defense of the ‘wizard’ prediction means that it was secretly him.
China In Your Hands
Following President Xi’s call for accelerated blockchain adoption in the country last week,