Simply Bitcoin Bitcoin SHOULD Be OVER $550,000 Based on This Metric | EP 1183
Feb 14, 2025
Join Frank Holmes, the executive chairman of Hive Digital Technologies, as he shares insights from the booming Bitcoin mining sector. Hear about the impact of China's mining ban and Hive's successful expansion into new regions like Paraguay. Frank dives into the ambitious plans to reach a $500 million production run rate with a lean team while navigating rising costs and competition. The discussion also touches on the growing institutional interest in Bitcoin and the pivotal role of Tether and stablecoins in enhancing Bitcoin's adoption worldwide.
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Hash Rate Precedes Price
- Max Keiser suggests Bitcoin's price should be much higher, over $500,000.
- He believes the hash rate is a key indicator, preceding price increases.
Hash Rate Resilience
- Despite the China mining ban, the Bitcoin hash rate didn't crash as predicted.
- Instead, it decentralized and quickly recovered, reaching new all-time highs.
Mining for Dollars
- Countries are increasingly mining Bitcoin to acquire U.S. dollars.
- This demand contributes to the rising hash rate and strengthens Bitcoin's position against other currencies.