Veteran trader Peter Brandt has an oddly specific bitcoin price target – $67,193. Brandt, who boats of 40-plus years’ experience in commodity trading, arrived at this figure by taking the combined value of the 33,000 tonnes of central bank-owned gold and dividing it by bitcoin‘s fully-diluted currency supply of ~21 million coins. $67,193This is what one $BTC will be worth if the the composite value of Bitcoin (at 21 MM mined) equals the value of the 33k tonnes of Gold $GC_F #GOLD held by the world's central banks. — Peter Brandt (@PeterLBrandt) February 23, 2019 For Brand’s analysis to come
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