Barry Silbert, founder of the Digital Currency Group, Grayscale’s parent company, has taken to Twitter to share his thoughts on the direction Bitcoin is likely to take.
The $100,000 price level has been described by Silbert as a “magnet” for the flagship cryptocurrency. He tagged a similar tweet from two years ago, on June 22, when he said the same thing about Bitcoin reaching the $20,000 level.
On that day, the leading cryptocurrency was trading at $4,023 and was still ten months away from recapturing the $20,000 all-time high set in December 2017.
On April 14, this year, Bitcoin reached a new historic high of $64,863. After a massive correction, triggered in part by Elon Musk’s critical tweets about Bitcoin as an environmentally unfriendly currency and a Chinese crackdown on BTC miners, the price had dropped to $30,000 and then reversed.