Bitcoin price hits $ 21,569 as Dave Portnoy misses out on $ 160,000

Bitcoin price passed USD 21,000 for the first time in history on December 16, not long after the crypto asset crossed the psychological threshold of $ 20,000.

BTC / USD weekly chart. Source: Tradingview

The recent rise to $ 21,569 on Coinbase at approximately 11:15 p.m. UTC means that institutional investor MicroStrategy has seen its shares price double since it announced it had taken Bitcoin (BTC) as a reserve in September, when the price fell below $ 11,000. lay.

However, not every high-profile investor has acted like a bandit. Barstool Sports founder Dave Portnoy said he sold his Bitcoin holdings in August and may have lost more than a hundred thousand in profits. Portnoy reported buying at least $ 200,000 in BTC on August 13 – when the price was below $ 12,000. The same amount of Bitcoin is said to be worth more than $ 360,000 today as the price is up 80%.

Alex Mashinsky, CEO of Celsius Network, predicted that the price was likely to fall soon, providing a buying opportunity.

“Come on in as we will visit the $ 20- $ 22K level at least half a dozen times before breaking into the $ 30K range later in 2021,” he said.

“I think we will also retest the $ 14-16K levels on a weekend of low volume or bad news on the street. That will likely be the last time most of us will ever have a chance to buy bitcoin under $ 20,000 again. “

With today’s bullish activity, investors who shorted crypto assets have liquidated their positions. According to data from crypto trading platform Bybt, more than $ 630 million worth of Bitcoin has been liquidated in the past 24 hours. Glassnode reported that in just an hour earlier today, there were nearly $ 95 million in Bitcoin futures liquidations on major crypto exchange Binance:

Bitcoin’s price is $ 21,329 at the time of publication, after a 9.7% increase in the last 24 hours.