{"id":391535,"date":"2019-07-29T20:00:47","date_gmt":"2019-07-29T20:00:47","guid":{"rendered":"https:\/\/wncen.com\/?p=391535"},"modified":"2019-07-29T16:04:16","modified_gmt":"2019-07-29T16:04:16","slug":"cnbc-host-pushes-bitcoin-cites-halving-and-scarcity-as-catalyst-for-55k-btc","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cnbc-host-pushes-bitcoin-cites-halving-and-scarcity-as-catalyst-for-55k-btc\/","title":{"rendered":"CNBC Host Pushes Bitcoin, Cites Halving and Scarcity As Catalyst for $55K BTC"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">In recent weeks, CNBC\u2019s host of the Squawk Box, Joe Kernen has become a bit of a hero across the crypto industry, often defending Bitcoin and its long-term value during debates with US policymakers, financial elites, and crypto skeptics alike.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In \u201cJoe Squawk\u2019s\u201d latest comments, he continues to push Bitcoin amongst his co-anchors and guests, and talks about how he believes in a prominent crypto analyst\u2019s stock-to-flow model, that helps put a realistic value on Bitcoin \u2013 an often misunderstood asset that\u2019s value is highly controversial and speculative. That value, he expects to reach $55,000 by May 2020 based on the model.<\/span><\/p>\n<h2>CNBC&#8217;s Joe &#8220;Squawk&#8221; Kernen Boasts of Bitcoin, $55K Post-Halving Target<\/h2>\n<p class=\"p1\"><span class=\"s1\">During a recent video segment of Squawk Box, host Joe Kernen turned the show\u2019s topic and discussion with Founder and Managing Partner of Fairlead Strategies Katie Stockton toward Bitcoin. Kernen asked the analyst if she also believed that Bitcoin would hit $55,000 \u201cafter the next halving\u201d in May 2020.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/07\/18\/secretary-mnuchin-cnbc-bitcoin-criticism\/\">CNBC Analyst Calls Secretary Mnuchin Out on Crypto Criticism\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Over the last few weeks as talk of regulation enveloped the crypto industry, Kernen has been especially vocal with the likes of United States Secretary of Treasury Steven Mnuchin over his comments that Bitcoin and crypto is widely used for criminal activities like drug dealing, human trafficking, money laundering, and more \u2013 yet cash is rarely used in such things.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Will bitcoin reach $55k by May 2020? <a href=\"https:\/\/twitter.com\/JoeSquawk?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@JoeSquawk<\/a> discusses <a href=\"https:\/\/twitter.com\/hashtag\/btc?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#btc<\/a> with <a href=\"https:\/\/twitter.com\/StocktonKatie?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@StocktonKatie<\/a> <a href=\"https:\/\/t.co\/r1b5rNhX1s\" rel=\"nofollow\">pic.twitter.com\/r1b5rNhX1s<\/a><\/p>\n<p>&mdash; Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/76416771?ref_src=twsrc%5Etfw\" rel=\"nofollow\">July 29, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Even though <a href=\"https:\/\/wncen.com\/2019\/06\/21\/why-once-a-bitcoin-skeptic-cnbc-anchor-became-an-enthusiast\/\">the once Bitcoin skeptic recently flipped bullish<\/a> on the crypto asset, he does believe that the distributed ledger technology BTC is built upon \u201cimbues more inherent value on something than a government does,\u201d suggesting he\u2019d rather trust technology and mathematics over the United States government.<\/span><\/p>\n<h2>The BTC Stock-to-Flow Model That Convinced The Crypto Skeptic<\/h2>\n<p class=\"p1\"><span class=\"s1\">In this discussion with analyst Katie Stockton, Kernen cited the upcoming halving and a stock-to-flow model popularized but prominent crypto analyst 100TrillionUSD, who uses unique metrics to help to determine the value and price movements in Bitcoin across the short- and long-term.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\"><a href=\"https:\/\/medium.com\/@100trillionUSD\/modeling-bitcoins-value-with-scarcity-91fa0fc03e25\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">100TrillionUSD\u2019s model<\/a><\/span><span class=\"s1\"> focused on the scarcity coded into Bitcoin and the impact each halving has on supply and demand. With scarcity increased, supply sharply declines while demand remains relatively strong, causing the price to rise parabolically as can be seen throughout the history of Bitcoin price charts.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">My first Medium article! Combining all my tweets about modeling bitcoin&#39;s value with stock-to-flow, the halving, power laws, fractals and questions &amp; answers to one logical story.<a href=\"https:\/\/t.co\/n5P5uMCKHT\" rel=\"nofollow\">https:\/\/t.co\/n5P5uMCKHT<\/a><\/p>\n<p>&mdash; PlanB (@100trillionUSD) <a href=\"https:\/\/twitter.com\/100trillionUSD\/status\/50377728?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 22, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Using a scarcity model similar to that is used to determine the value of supply-based commodities or precious metals like <a href=\"\/tag\/gold\" rel=\"nofollow\">gold<\/a> and silver on Bitcoin has helped the analyst accurately predict several Bitcoin-related price movements. In the future, the analyst believes that the \u201cpredicted market value for bitcoin after May 2020 halving is $1trn, which translates in a bitcoin price of $55,000.\u201d<\/span><\/p>\n<p class=\"p1\" style=\"text-align: center\"><em><strong><span class=\"s1\">Related Reading | <a href=\"https:\/\/wncen.com\/2019\/03\/28\/analyst-55000-bitcoin-halving-ethereum-vitalik-worried\/\"><span class=\"s2\">Analyst Predicts $55,000 BTC After Halving: Why Is Ethereum\u2019s Vitalik Worried?<\/span><\/a><\/span><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">100TrillionUSD\u2019s analysis is considered among the best across the crypto market, and its enough to give Joe Kernen additional confidence in Bitcoin\u2019s long-term value, and may have been part of the data that helped turn Kernen from skeptic to supporter in a matter of months.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In recent weeks, CNBC\u2019s host of the Squawk Box, Joe Kernen has become a bit of a hero across the crypto industry, often defending Bitcoin and its long-term value during debates with US policymakers, financial elites, and crypto skeptics alike. In \u201cJoe Squawk\u2019s\u201d latest comments, he continues to push Bitcoin amongst his co-anchors and guests, and talks about how he believes in a prominent crypto analyst\u2019s stock-to-flow model, that helps put a realistic value on Bitcoin \u2013 an often misunderstood asset that\u2019s value is highly controversial and speculative. That value, he expects to reach $55,000 by May 2020 based on the model. CNBC&#8217;s Joe &#8220;Squawk&#8221; Kernen Boasts of Bitcoin, $55K Post-Halving Target During a recent video segment of Squawk Box, host Joe Kernen turned the show\u2019s topic and discussion with Founder and Managing Partner of Fairlead Strategies Katie Stockton toward Bitcoin. Kernen asked the analyst if she also believed that Bitcoin would hit $55,000 \u201cafter the next halving\u201d in May 2020. Related Reading | CNBC Analyst Calls Secretary Mnuchin Out on Crypto Criticism\u00a0 Over the last few weeks as talk of regulation enveloped the crypto industry, Kernen has been especially vocal with the likes of United States Secretary of Treasury Steven Mnuchin over his comments that Bitcoin and crypto is widely used for criminal activities like drug dealing, human trafficking, money laundering, and more \u2013 yet cash is rarely used in such things. Will bitcoin reach $55k by May 2020? @JoeSquawk discusses #btc with @StocktonKatie pic.twitter.com\/r1b5rNhX1s &mdash; Squawk Box (@SquawkCNBC) July 29, 2019 Even though the once Bitcoin skeptic recently flipped bullish on the crypto asset, he does believe that the distributed ledger technology BTC is built upon \u201cimbues more inherent value on something than a government does,\u201d suggesting he\u2019d rather trust technology and mathematics over the United States government. The BTC Stock-to-Flow Model That Convinced The Crypto Skeptic In this discussion with analyst Katie Stockton, Kernen cited the upcoming halving and a stock-to-flow model popularized but prominent crypto analyst 100TrillionUSD, who uses unique metrics to help to determine the value and price movements in Bitcoin across the short- and long-term. 100TrillionUSD\u2019s model focused on the scarcity coded into Bitcoin and the impact each halving has on supply and demand. With scarcity increased, supply sharply declines while demand remains relatively strong, causing the price to rise parabolically as can be seen throughout the history of Bitcoin price charts. My first Medium article! Combining all my tweets about modeling bitcoin&#39;s value with stock-to-flow, the halving, power laws, fractals and questions &amp; answers to one logical story.https:\/\/t.co\/n5P5uMCKHT &mdash; PlanB (@100trillionUSD) March 22, 2019 Using a scarcity model similar to that is used to determine the value of supply-based commodities or precious metals like gold and silver on Bitcoin has helped the analyst accurately predict several Bitcoin-related price movements. In the future, the analyst believes that the \u201cpredicted market value for bitcoin after May 2020 halving is $1trn, which translates in a bitcoin price of $55,000.\u201d Related Reading | Analyst Predicts $55,000 BTC After Halving: Why Is Ethereum\u2019s Vitalik Worried? 100TrillionUSD\u2019s analysis is considered among the best across the crypto market, and its enough to give Joe Kernen additional confidence in Bitcoin\u2019s long-term value, and may have been part of the data that helped turn Kernen from skeptic to supporter in a matter of months.<\/p>\n","protected":false},"author":517,"featured_media":391543,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1368,6664,48424,47300],"class_list":["post-391535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-cnbc","tag-crypto","tag-joe-kernen","tag-squawk-box"],"acf":[],"yoast_head":"\n<title>CNBC Host Pushes Bitcoin, Cites Halving and Scarcity As Catalyst for $55K BTC<\/title>\n<meta name=\"description\" content=\"In recent weeks, CNBC\u2019s host of the Squawk Box, Joe Kernen has become a bit of a hero across the crypto industry, often defending Bitcoin and its\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/cnbc-host-pushes-bitcoin-cites-halving-and-scarcity-as-catalyst-for-55k-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CNBC Host Pushes Bitcoin, Cites Halving and Scarcity As Catalyst for $55K BTC\" \/>\n<meta property=\"og:description\" content=\"In recent weeks, CNBC\u2019s host of the Squawk Box, Joe Kernen has become a bit of a hero across the crypto industry, often defending Bitcoin and its\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/cnbc-host-pushes-bitcoin-cites-halving-and-scarcity-as-catalyst-for-55k-btc\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-29T20:00:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-07-29T16:04:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/bitcoin-cnbc-joe-kernen-crypto-shutterstock_658458955.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"5000\" \/>\n\t<meta property=\"og:image:height\" content=\"2129\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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