Bitcoin Resting Around $11K Level, CNBC’s Brian Kelly Says $50K by Q2 2021


Recently, hedge fund manager and CNBC contributor Brian Kelly explained why he is so bullish on Bitcoin and in particular why he expects the price to reach $50,000 “sometime in Q2 2021.”

According to his bio on the CNBC website, Kelly is the founder and CEO of BKCM LLC, an asset management firm focused on “global macro and currency investing, including investing in digital currencies.” Furthermore, he is the portfolio manager of the BKCM Digital Asset Fund and the REX BKCM Blockchain ETF. Kelly

Related articles

Brian Kelly is Founder & CEO of BKCM LLC, a digital currency investment firm. He is the portfolio manager of the BKCM Digital Asset Fund and the REX BKCM Blockchain ETF (NYSE: BKC). Brian is the author of “The Bitcoin Big Bang – How Alternative Currencies Are About to Change the World.”

Kelly is also the author of the book “The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World” (which was published by Wiley in November 2014).

On Monday (July 27), Melissa Lee, who is the host of CNBC show “Fast Money”, asked Kelly which asset he was most bullish on — gold, silver or Bitcoin.

Kelly replied:

“Well, for me, it’s going to be Bitcoin. You might say ‘well, BK, your are biased because you run a crypto fund’, but that’s not it.

“I also trade macro, which means I have a whole bunch of different things that I can invest in — currencies, stocks, bonds, precious metals — and when I look at precious metals versus Bitcoin, Bitcoin has better fundamentals, and with fundamentals, I’m talking about the stock to flow ratio.

“It’s better than gold at this point because we had the halvening, and when I look at the Bitcoin cycles, the bull markets tend to cluster around the halvenings, and so we’re tracking right along like the 2016 halvening cycle, and that would imply that sometime in Q2 2021 you’re looking at a Bitcoin price of 50,000.

“So, that’s kind of a long-term target and in the shorter term, $10,500 was a really big number.