Messina CEO willing to bet his Porsche on BTC reaching $60K again News ▸ US ▸ Bitcoin ▸ Bear Market
Messina CEO willing to bet his Porsche on BTC reaching $60K again
Jim Messina said he remains bullish and is buying more Bitcoin, despite seeing the flagship crypto lose over 60% of its value year-to-date.
2 min read
Updated: Oct. 27, 2022 at 3:47 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Former White House Deputy Chief of Staff and Messina Group CEO Jim Messina said he is ready to bet on his Porsche car as he expects Bitcoin to rally up to $60,000.
During an interview with Fox Business on Oct. 27, Messina remarked that crypto is one of the most exciting developments of this generation.
The Bitcoin Maximalist said he remains bullish and buying more Bitcoin, despite the leading cryptocurrency losing over 60% of its value year-to-date.
Messina added that he could bet his Porsche that Bitcoin is going back to $60,000, from the $20,000 rally.
“I’m incredibly bullish on this. I’m buying #bitcoin right now. I’ll bet you my Porsche #bitcoin gets back to $60,000″
— President Obama’s deputy Chief of Staff, Jim Messinapic.twitter.com/KjDZMg8S7O
— Documenting Bitcoin 📄 (@DocumentingBTC) October 26, 2022
Messina noted that for Bitcoin to emerge as a crypto winner, many of the “BS projects” need to be gotten rid of.
Bitcoin maxis predicting big
Back in August, when Bitcoin was trading at $24,000, Kraken CEO Jesse Powell said that he expects to use 1 Bitcoin to buy a Buggati (which costs about $1.9 million) by the end of 2022.
Bloomberg Analyst Mike McGlone also expressed his bullish stance on Bitcoin, as he predicted it could hit $100,000 by 2025.
Galaxy Digital CEO Michael Novogratz, said that given the increasing rate of crypto adoption, Bitcoin may be priced at $500,000 by the end of 2027.
Bitcoin on the rise
As local currencies and tech stocks falter, Bitcoin is gradually reclaiming its safe haven status.
Following the British Pound’s crash earlier in September, U.K. investors have reportedly traded roughly £846 million for Bitcoin.
Increased buying pressure from the U.K. and U.S. markets helped push Bitcoin prices to a six-week high above $20,000. In the last 24 hours has increased to trade at $20.585.
Bitcoin’s recent positive action has led the flagship crypto to decouple from big tech stocks like Google and Meta which have declined by 6% and 20% respectively.
Author 
Christian Nwobodo
Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. Christian is interested in DeFi protocol research, token economics, and on-chain analytics.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.