Mark Moss: Bitcoin is at the best buying point in history, expected to reach a new high in 2027
Mark Moss, co-founder of Bitcoin Opportunity Fund, stated in the Cointelegraph podcast Trade Secrets that Wall Street's and the U.S. government's acceptance of Bitcoin has created "the best buying opportunity in history." Moss first bought Bitcoin in 2015 at around $300, when the risks were extremely high, and now there is consensus from the U.S. government and Wall Street, but most people still view it as a scam. This skepticism is precisely the source of the buying opportunity. He believes Bitcoin is crossing the "chasm" between early adopters and mainstream investors, with banks and ETFs lowering the barriers to entry, and financial advisors may also persuade hesitant clients to enter the market.
In terms of market conditions, Bitcoin briefly surged above $80,000 after the U.S. midterm elections, then retraced its gains alongside tech stocks, dropping to $74,762 on Friday, the lowest since August, and further dipping to around $73,500 on Sunday. Moss pointed out that the price did not significantly drop after the $6.3 billion Binance hack, indicating that selling pressure is waning. The capital flow for U.S. spot Bitcoin ETFs fluctuated sharply during election week, with a net inflow of about $75 million on Wednesday and a net outflow of $430 million on Thursday. He cited data going back to 2014, stating that Bitcoin averaged a 53% increase in the 12 months following previous U.S. midterm elections, and he expects it to reach an all-time high by 2027.
Moss believes the most worthwhile Bitcoin treasury company to hold is MicroStrategy (MSTR), which has been buying Bitcoin since 2020 and held 849,327 BTC as of November 2, accounting for over 4% of Bitcoin's maximum supply. However, he stated that he would not exchange his held Bitcoin for its stock. According to his model, under the conditions where Bitcoin competes for investor wealth against stocks, bonds, gold, and real estate, the price is expected to reach $1 million, potentially by 2030, or at the latest by 2032.