Considering the high revenue San Fransisco-based Twitter’s Square got via Bitcoin in the second quarter of the year 2020, and a number of other factors, Bitcoin is set to rise to an interim target of $28,000, South Yorkshire-based Investment Company Heisenberg Capital has said.
Headed by two top crypto influencers, Max Keiser and Stacy Herbert, Heisenberg Capital said Bitcoin has an interim target of $28,000.
In recent times, Bitcoin has been seeing great adoption growth despite the lasting economic crises ravaging the world.
Heisenberg Capital was founded by crypto mogul Max Keiser and headed by CEO Stacy Herbert, Keiser’s spouse. The company, which has investments in a number of crypto startups like ShapeShift, Kraken, Bitfinex, Bitpay, and Bitso, among others, also confirmed that the demand for Bitcoin across the world has increased rapidly in recent times.
Heisenberg Capital in its statement linked the increased adoption to the world’s fiat currencies and central bank crisis growing at an exponential rate.
Heisenberg Capital said considering the Square’s “number out”, it is reechoing that BTC’s interim target is $28,000, captioning the tremendous growth the company made via Bitcoin, this year.
In the second quarter of 2020, Square recorded a whopping sum of over $800 million in Bitcoin, a wide margin compared to its $300 million Q1 revenue.
This indicates that the American payment platform owned by the CEO of Twitter, Jack Dorsey, settled more transactions in Bitcoin in the just-ended quarter, a remarkable achievement that signals increase in adoption.
“BTC is the love child of Gold and a hyper-successful messaging app,” Heisenberg Capital said.
The COVID-19 crises made many believe that the payment company would face huge challenges due to the pressure on its small-merchant customer base. Thus, analysts forecasted that there would be a decline in the company’s revenue.
Contrarily, Square recorded a huge growth of 64%, and it can be traced to the spike in the company’s revenue via Bitcoin and Cash App mobile wallet increased usage.
