BTC to be $25k, Tom Lee Says

Well-known Bitcoin bull is optimistic bout the price of digital "gold", as always
24 May 2018   944

Co-founder of Fundstrat Global Advisors, Tom Lee does not abandon his forecasts and expects bitcoin to grow to $ 25,000. The analyst said this in a conversation with CNBC.

According to him, the latest decline in the market is explained by "typical volatility of the crypto-currency". As an argument for his bullish forecast, he pointed to 3 key factors.

The first factor is the cost of issuing bitcoin. On Tuesday, on the air of the "Futures Now" broadcast, when bitcoin cost about $ 8,000, Lee said that the cryptocurrency "is traded at the level of actual costs". On Wednesday, the analyst said that the cost of issuing bitcoin is about $ 6,000, that is significantly lower than the price of the cryptocurrency in the market.

Among other factors that may cause further growth of bitcoin, Lee mentions the arrival of institutional investors who still do not have the opportunity to interact freely with the crypto-currency industry.

I think institutional investors have gained a lot of interest, and they haven't really come into crypto yet because there is still some regulatory uncertainty. But that sort of ultimate allocation into crypto as an asset class is going to be a powerful reason why bitcoin rallies.

Tom Lee


Finally, Lee refers to an analysis of historical data conducted by Fundstrat, which also suggests that investors should keep the Crypto currency.

Historically, 10 days comprise all the performance in any single year of bitcoin's price. If you just took out those 10 days, bitcoin's down 25 percent a year. So as miserable as it feels holding bitcoin at $8,000, the move from $8,000 to $25,000 will happen in a handful of days.

Tom Lee


Earlier, another analyst at Fundstrat Sam, Doctor, published the results of his analysis, which led him to conclude that the rate of bitcoin in 2019 could rise to $ 36,000 or even $ 64,000.

Ryuk Ransomware Team to Get 705 BTC

CrowdStrike and McAfee believes the program was created and supported by Russians
15 January 2019   97

In less than six months, hackers got 705 bitcoins through Ryuk ransomware, reports The Block.

Until recently, the group of hackers GRIM SPIDER behind Ryuk was supposed to be operating from North Korea. However, according to the companies CrowdStrike and McAfee, the program was created and supported by Russian hackers.

Ryuk is distributed via email-phishing, where the TrickBot Trojan is involved. The main objectives of the ransomware program are large companies and government organizations. Ryuk blocks the victims' hard drives until they pay the ransom. The amount of the latter often depends on the size and significance of the organization.

The program is "famous" for the impressive amounts of required buybacks:

To date, the lowest observed ransom was for 1.7 BTC and the highest was for 99 BTC. With 52 known transactions spread across 37 BTC addresses (as of this writing), GRIM SPIDER has made 705.80 BTC, which has a current value of $3.7 million. With the recent decline in BTC to USD value, it is likely GRIM SPIDER has netted more.


705 bitcoins at the current exchange rate is about $ 2.6 million.