Bitcoin hits $40k; $100k is ‘conservative’ next target – Hong Fang doubles down on call (Pt. 1/2)

Hong Fang, CEO of OKCoin, doubles down on her $100,000 price call for bitcoin in 2021 owing to adoption from institutional investors and the growing acceptance of bitcoin as a viable store of value.

Fang’s comments come as bitcoin hit $40,000 on Thursday.

0:00 - Bitcoin price forecast
3:23 - Bitcoin's role for investors
7:50 - Bitcoin vs S&P 500
10:06 - Drivers of $100k bitcoin
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[mjones]

At this stage it's not about how much it will reach, but about how long the bull run will last. If we look at the 2017 bull run it lasted 530 days from the July 16 halving. Right now we are not even half way from the May 20 halving. There is a lot of scope left.

[Thiny]

The host showing empathy with Bitcoin for its parabolic rise yet getting alarmed by gold moving from 1800 to 1900 ...

[tkl_]

Looks like we're not going to the moon, we're going to Alpha Centauri.

[ramonlarson]

Great guest!!! Slapping down them facts for the people!!!

[jamesj]

owning bitcoin requires faith that nothing will go wrong. owning gold is understanding that many things will go wrong.

[xdibu]

This was a really endearing interview!
Cheers all the crypto holders!

[xpengfangirl]

if it is a straight line then it will reach 10 million by end of 2021

[pratimputatunda]

Meanwhile as they keep talking, Bitcoin is deaf and casually blows past 41K...

[BatmanBoss]

Beautiful and intelligent lady. Thanks David!
Kitco!

[davebellamy]

Note how Bitcoin hit resistance at 58, 000, which was almost exactly the price of 1 kilo of gold. It just overtook gold at the peak, 58k vs 57k. The next day, BTC was 50k and gold was 58k. Now both are down. Someone wasn't willing to part with their kilo bars for Bitcoin at 1:1.

[kirkworthley]

I work in tech. All my friends work in either tech or Finance. I don't know a single person who actually uses BTC except as a speculative play. What's going on is absolutely staggering.

[xpengfangirl]

store of value, let´s believe and embrace, same as Tesla, believe and embrace, take all our money, at any price

[donaldduck]

Apparently it is easier for the establishment to control gold and silver than it is to control BTC...

[lscotti]

Thank you David and thank you Hong Fang really enjoyed the clarity of this intetview much appreciated!

[Mickwa]

CEO of OKCoin. She won’t say a negative word about it now would she.

[cosifantutte]

Something intangible going to $100k, while gold will dip to $1k. There is no sanity or rationality in the world.

[crystalclearvlog]

Hope Gold and silver will do the same some glory day

[ramonlarson]

Broke 40k today, expect institutions to reduce risks but I doubt it will go under 20k

[tikitavi]

Bitcoin is a disaster waiting to happen. Buy into something when everyone in the world is doing the same thing. Brilliant!

[clearvibrations]

I bought in at 17, 000/1 btc.... 🎉✨✨🥂✨✨🎉