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Bitcoin Is the Best Buy Today, Says Investor Mark Cuban
In a recent interview, billionaire investor Mark Cuban has emphasized that Bitcoin (BTC) is currently the best buy in the market. According to data from CoinMetrics, the global M2 money supply has reached $108.4 trillion, leading analysts to predict that the price of Bitcoin could surge to $126k by June 1.
Cuban’s statement comes at a time when the asset has been trading within the lower end of its historical seasonal range. This phenomenon, as highlighted by renowned economist Timothy Peterson, corroborates the potential for an upward breakout.
As the global economy continues to grapple with inflationary pressures and economic uncertainty, institutional investors are increasingly turning their attention towards cryptocurrency markets. The price action in Bitcoin is particularly noteworthy, given that it appears to be decoupling from risk assets. This trend suggests that investors may be seeking alternative stores of value amidst a backdrop of macroeconomic instability.
Given the unprecedented rise of the global M2 money supply, and considering the asset’s current trading dynamics, Cuban’s endorsement of Bitcoin as the best buy today seems justified.
Source: https://www.crypto-news-flash.com/bitcoin-is-the-best-buy-today-says-investor-mark-cuban/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-is-the-best-buy-today-says-investor-mark-cuban
