Recently, cryptocurrency prices have picked up steam again with Bitcoin gaining more than 30% in past 2 weeks and about 10% in just a week. Weighing in on this recent trend, Dan Bilzerian, popular social media celebrity, and professional poker player urged his fans to invest in cryptocurrencies.
In a tweet, Dan said, “Time to get back in crypto.” He was in the news a few months back for tweeting to his 23 million followers about how much of a ‘killing’ he is making after he bought a ‘sh*tload’ of the cryptocurrency when it was priced at just $2,300.
Most investors who do not fundamentally believe bitcoin and the cryptocurrency market could overtake the market of gold and fiat currencies would have sold their investments in cryptocurrencies at 2x or 3x returns. But, Bilzerian has continued to hold onto his investments since April 2017, despite some major corrections along the way. Bilzerian has publically announced that he has a diverse portfolio of 50% Bitcoin, 25% ETH, 15% Monero and 10% Bitcoin Cash.
Although very popular, Dan has always been very divisive. He has taken a lot of heat from feminists for his objectification of women. Critics say that his claims of winning more than $10 million has been overly exaggerated and so are his claims of having a fortune of more than $100 million.
Bilzerian is far from a reliable source for getting cryptocurrency investment advice. However, experts including players such as Pantera Capital and Fundstrat Global Advisors have joined well-known ‘Bitcoin bulls’ in forecasting serious price rises by the end of 2018. Estimates currently range from $20,000 to $100,000, while famous faces such as Tim Draper and John McAfee are still confident that markets will hit $250,000 by 2022 and $1,000,000 by 2020 respectively.