Tom Lee calls $7000 the Current Break-Even Price for Bitcoin Mining
Black Friday Prices have hit cryptoland!!
Joking aside, this is a good interview with Tom Lee.
There are a number of points to take away from this interview, the $7000 USD break-even price is an interesting one. This means that some mining farms are definitely struggling right now to stay afloat, if they weren't already.
As a hobbyist miner, I'm not too concerned as I have been seeing an increase in payout frequency, and as a long term crypto HODL'er I'm even less concerned about the future of Bitcoin and many altcoins. In the short term (6-18 months) I'm expecting Bitcoin to become a safe haven as the stock market continues to collapse and traditional precious metal markets hit their peak.
Until then, its a game of grabbing some deals and being patient as events unfold.
Thank you for reading. shares and comments are always welcome.
That was an interesting piece. It did seem like a thanksgiving table discussion though with those 3 people taking pot shots at him and not letting him finish sentences.
That is really neat to see the next wave of adoption being institutional. You could see much more capital fueling a growth phase, a lot more stability as institutions needing it as a store of value, and a good year of manipulation transferring the asset from the hands of panickers to the patient companies.
15k by year end would be a boon though.
yep! I tell people I know that in a few years they'll probably be able to buy bitcoin at their bank as part of an investment portfolio, just a matter of time before it hits critical mass.