NBA star Scottie Pippen's "dream encounter" with Bitcoin BTC/USD creator Satoshi Nakamoto failed to hit the bull’s eye, as the leading cryptocurrency gained but didn't gain enough on election day.
What happened: Widely regarded as one of the greatest players in NBA history, Pippen is a known celebrity advocate of Bitcoin and actively uses his social media presence to promote the cryptocurrency.
Earlier in September, he described one of his dreams that piqued the interest of the Bitcoin community.
Pippen said that none other than the pseudonymous Satoshi appeared in his dreams and predicted that the dominant cryptocurrency would hit $84,650 on Nov. 5, the day of the elections.
However, he added that this wasn't any financial advice.
As it turned out, Bitcoin soared on Donald Trump's victory but missed “Satoshi's projection”. The apex cryptocurrency's rally was halted at a high of $76,460.
Details about Pippen’s Bitcoin or cryptocurrency holdings have been sketchy, and the iconic athlete did not immediately respond to Benzinga's request for more information.
Why It Matters: Price predictions for Bitcoin were in full swing leading up to the election, and they are certain to continue as market expectations have only grown.
A potential Trump win being the bull case, global investment bank Standard Chartered had earlier projected Bitcoin to shoot to $125,000. Brokerage firm Bernstein projected the leading cryptocurrency to hit $80,000 to $90,000 by the end of Q4 should Trump emerge victorious.
Price Action: At the time of writing, Bitcoin was exchanging hands at $74,605.01 down 0.14% in the last 24 hours, according to data from Benzinga Pro.
Photo courtesy: Unsplash
Read Next:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
