What To Do As Bitcoin Hits $44,000 (And The S&P 500)

If you've been following along with our Bitcoin recommendations over the past six months or so, you've banked as much as four times your money – $10,000… $20,000… $30,000, and now, just like we predicted, more than $40,000.

(Personally, I think we'll see much more than twice that in 2021, but I'll get to that in a second.)

We haven't just gotten lucky – we're watching the big institutional investors and corporations who've pumped the lion's share of $17 billion into Bitcoin and other microcurrencies over the past few months.

Companies like PayPal Holdings Inc. (Nasdaq: PYPL) have embraced and invested in Bitcoin to bring crypto products to their customers. Hedge funds up and down Wall Street have quietly piled in, too. Companies like Grayscale, which manages the Grayscale Bitcoin Trust ETF (NYSEArca: GBTC), have had a string of record-breaking months of inflows, thanks to Bitcoin, Ethereum, and Litecoin.

All this love from just about every corner of the market has helped build a critical mass for Bitcoin's acceptance and, even more importantly for crypto investors, it's put a solid, steadily rising "floor" underneath Bitcoin's price on its way to my one-year, $100,000 price target.

But some incredible events over the past three days mean I might have to revise that target upward before long…

Musk's Bitcoin Tweets Matter, but His Actions Matter More

Whatever your personal take on Elon Musk is, whether he's just your style or not your cup of tea, there's no disputing the guy's ability to move markets up or down with a couple of keystrokes.

Sometimes that lands him in hot water. Other times, like now, he's got great news for investors. We should absolutely be paying attention to what he's saying and what he's doing…

Musk revealed Tesla is joining the ranks of PayPal, Microsoft Corp. (Nasdaq: MSFT), Overstock.com Inc. (Nasdaq: OSTK), BMW, and other companies that now accept Bitcoin for goods and services.

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Disclaimer: Any performance results described herein are not based on actual trading of securities but are instead based on a hypothetical trading account which entered and exited the suggested ...

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