Jim Bianco, who knows a lot about the economy, thinks that if a Bitcoin ETF starts trading, it could follow the same path as when Facebook first started selling its stock to the public in 2012.
Jim Bianco has been working in financial analysis since 1990 and currently serves as President and Macro Strategist at Bianco Research, L. LC He is well-known in this field. He looks at things differently than others on Wall Street. He criticizes things like how the government affects the economy and how the financial markets work.
For almost 20 years, Bianco Research has been asking for Bianco’s knowledge in TV channels like CNBC, Bloomberg, and Fox Business. He has also been featured in famous financial magazines like the Wall Street Journal and Bloomberg News.
Before working at Arbor and Bianco Research, Bianco worked as a Market Strategist for stocks and bonds at UBS Securities and as an Equity Technical Analyst at First Boston and Shearson Lehman Brothers. He has a CMT certification and belongs to the MTA. Bianco has a degree in Finance from Marquette University and a MBA from Fordham University.
In a recent interview on Real Vision, Bianco talked about Facebook’s IPO, which was really anticipated, and compared it to how Bitcoin might behave in the market.
According to Bianco, when Facebook first started selling its shares, they were priced at $28. But then the price dropped a lot to $11, which was unexpected. Bianco thinks that Bitcoin might have a similar pattern after a spot Bitcoin ETF is approved in the U. S He worried that after getting approval, Bitcoin may go up for a few days but then the price might stay the same or even go down for a while.
Bianco remembered what happened with Facebook in 2012. People thought the price of shares would definitely reach $100, they just didn’t know when. Even though Facebook’s shares later reached $100, they first dropped by a lot, losing two-thirds of their value. Bianco is worried that Bitcoin might repeat a similar pattern with the spot ETF. There could be a big drop before the long-term gains that investors are hoping for.
Michael Saylor, who is the leader of the company MicroStrategy, talked about the company’s plans on a TV show called “Squawk on the Street. ” He mainly talked about how the company is investing in Bitcoin and their software business. Saylor thinks Bitcoin is really great because it’s like owning property, a commodity, and technology all in one, but without the usual risks. He said that MicroStrategy is committed to Bitcoin and they plan to keep investing in it.
Saylor thinks that it’s a good idea to have a lot of Bitcoin. We really believe in Bitcoin. We also talked about how MicroStrategy’s big investments in Bitcoin might become more important than its main software business. However, Saylor emphasized a big partnership with Microsoft in artificial intelligence. The goal is to put AI into their products to make their business intelligence solutions better and to encourage customers to use cloud services.
He also pointed out how MicroStrategy’s business and its investment in Bitcoin are connected. He explained how their main business success helps them to invest more in Bitcoin. Saylor expects that if a Bitcoin ETF is introduced, more people will start using and knowing about Bitcoin. This would also help MicroStrategy’s products stand out in the market.
Moreover, Saylor talked about the upcoming Bitcoin halving event, which he thinks will make it harder for miners to sell Bitcoin. This, along with more people wanting to buy Bitcoin, could make the price of Bitcoin go up in the next year.