BK Asset Management’s Boris Schlossberg Talks Bitcoin’s Surging Price & Future Implications
BK Asset Management Director Describes What Bitcoin’s Surging Price Could Mean for Future
Boris Schlossberg, who is known for his managing director role with BK Asset Management, recently had an interview on July 18th with CNBC. During his segment, he spent some time describing exactly what the changes to Bitcoin’s rising price could mean for the ongoing success of the company.
The segment begins by letting viewers know about the 15% increase that Bitcoin’s week has brought them. Much of the credit due goes to “fundamental” rather than “technical” changes. Based on these changes, Schlossberg has been bold enough to believe that Bitcoin’s price could easily reach $8,000 soon, considering its current price of $7,400.
There are few reasons that CNBC believes that this change happened in the first place. The first action credited is Blackrock’s newfound interest in blockchain. The other change is due to Steve Cohen, who is a hedge fund investor that recently made a crypto investment.
Schlossberg concludes, saying, “So it remains for us to see if the Bitcoin rally has legs. For now, though, it remains very much a technical bounce.”