The Commonwealth Bank of Australia (ASX: CBA) share price is climbing higher on Wednesday after Australia’s biggest bank delivered its highly anticipated full-year results.

At the time of writing, shares in CBA are commanding a $108 price, up 1.39%. Today’s rally puts the bank’s gain over the past 12 months at more than 43%.

A major contributing factor to CBA’s strength today might lay in the monstrous $6 billion share buyback it announced.

Exceeding Citi’s expectations

It has been a joyous day for CBA shareholders following the release of the bank’s full-year results. To briefly summarise, Australia’s largest bank reported a net profit after tax of $8,843 million, representing a 19.7% increase year over year.

The significant jump in earnings was helped along by a large reduction in loan impairment expenses and provisions. According to the release, loan impairments were down 78% to $554 million.

All in all, these figures were reportedly in line with leading broker Citi. However, one metric that the broker wasn’t expecting was the massive $6 billion buyback program. Instead, analysts had been expecting in the ballpark of $5 billion. A beat that is likely pushing CBA higher on the ASX today.

Commenting on the large off-market buyback, Citi analysts said:

It appears CBA’s rationale for $6 billion revolves around the $6.2 billion of excess capital generated by divestments. Post buyback, CBA retains ~$5 billion of organically generated excess capital.

However, not everything was rosy in the eyes of the broker.

What’s baked into CBA on the ASX?

While the share buyback will likely drive an increase in return on equity and dividends per share, Citi seems apprehensive about the forward tailwinds for the big bank.

More to the point, analysts relayed that CBA’s revenue momentum was secluded to Australian mortgages and a strong New Zealand print. Meanwhile, contraction took place in its business banking revenue, despite growth in its lending amount.

On top of that, trading revenue dropped by roughly 40% as share market volatility subsided.

However, despite an overall in-line result, the revenue outlook appears more challenged than our expectations. Consequently, investors will be asking the question of at which point is excess capital and provisions in the share price?

Citi analysts

Based on the CBA share price at the time of writing, the bank is trading on a price-to-earnings (P/E) ratio of 21.7 times.

The post CBA (ASX:CBA) share buyback ahead of forecast: broker appeared first on The Motley Fool Australia.

More reading

• What you need to know about the CBA (ASX:CBA) dividend dates in 2021
• CBA, James Hardie and Challenger profit in the spotlight. Scott Phillips on Nine’s Late News
• Westpac (ASX:WBC) share price lags the big banks’ after NZ ‘formal warning’
• Everything you need to know about the CBA (ASX:CBA) $6bn share buyback
• Will the CBA (ASX:CBA) share price be pressured by lower loan profitability in FY22?

Motley Fool contributor Mitchell Lawler owns shares of Commonwealth Bank of Australia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The WAM Leaders Ltd (ASX: WLE) share price has just returned to ASX trading after a trading halt lifted on the Listed Investment Company (LIC).

WAM Leaders first announced the halt yesterday pending a capital raising announcement. It stated that its shares will return to the ASX boards “following the announcement of the proposed outcome of the capital raising”.

Well, today we got the news that said capital raising had been completed.

The company will raise $277.2 million from the program. This will result in the issuing of 25 million additional shares to the market. It initially allowed existing retail shareholders to apply for new shares on a a pro-rata basis. This consisted of a 1-for-5 entitlement offer at a price of $1.44 a share.

Today, WAM Leaders announced that the offer closed fully subscribed. More than 80% of the funds raised came from WAM Leaders shareholders. The LIC allowed the shortfall to be made up by “eligible professional and sophisticated investors”.

WAM raises $277 million in new funds

WAM Leaders tells us that these developments will allow the LIC to grow to having “more than $1.5 billion” in assets under management. As such, this makes the company “one of the largest Listed Investment Companies on the ASX”.

Here’s some of what WAM founder chair Geoff Wilson had to say on the news:

We greatly appreciate the trust, loyalty and support we have received from WAM Leaders shareholders. More than 80% of the funds in the Entitlement Offer were taken up by existing WAM Leaders shareholders, raising more than $193.6 million…

We are pleased to provide shareholders with a stream of fully franked dividends. In particular those shareholders who have committed additional capital to the Company through the Entitlement Offer.

In the latter remarks, Mr Wilson was referring to the offer’s attached carrot. This incentive is that the new shares will receive the FY2022 interim dividend of 4 cents per share that the company will pay out later this year.

The company tells us that this dividend will be worth an annualised yield of 5.6% (or 8% grossed-up with full franking) at the entitlement price of $1.44 per share.

Lead portfolio manager Matthew Haupt added this:

The WAM Leaders Investment team is excited and honoured to be entrusted with the additional capital raised from shareholders. We stand ready to capitalise on the many opportunities we have identified.

About the WAM Leaders share price

At the time of writing, the WAM Leaders share price has successfully returned to trading. It is down 2% so far this afternoon to $1.50 a share. This LIC is one of the growing stable of WAM Listed Investment Companies that the venerated investor now runs.

In this LIC’s case, it concentrates on the larger companies in the ASX 200. Management attempts to identify “large-cap companies with compelling fundamentals, a robust macroeconomic thematic and a catalyst”. Since its inception in May 2016, WAM Leaders has returned an average performance of 14.9% per annum (not including fees and taxes).

The post WAM Leaders (ASX:WLE) share price returns to trading after capital raise appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The European Lithium Ltd (ASX: EUR) share price has soared into the green during this afternoon’s session.

Today’s gain comes after an update from the European lithium exploration company regarding its Austrian drilling program.

Let’s investigate further.

What did European Lithium release?

Firstly, European Lithium delivered the update to its Wolfsberg Lithium Project via an investor presentation.

The release detailed results from the company’s recently completed pre-feasibility study (PFS), amid other progress points.

European Lithium explained it had several positive findings from the PFS. For instance, the project now has a net present value (NPV) of US$339.4 million, “based on JORC compliant resource” at almost 11 million tonnes.

Moreover, as a “key investment highlight” from the report, European seeks to be “the first local lithium supplier into an integrated European battery supply chain”.

In addition, production is “anticipated to commence (in) 2023”, potentially leading the company to be “the first battery-grade lithium producer in Europe”, as per the release.

Regarding its sustainability and clean energy obligations, European stated:

(European Lithium is) Setting the highest standards to fuel a sustainable future of European electromobility and storage systems, committed to use of cutting-edge technology, for clean production.

Investors are buying the company’s shares in droves following the announcement, pushing the European Lithium share price well into the green.

To illustrate, European Lithium shares are not exchanging hands at 8.4 cents apiece, up 29.23% gain on the day.

European Lithium share price snapshot

The European Lithium share price has posted a year to date return of 80%, extending the previous 12 month’s climb of 72%.

As a result, these results have outpaced the S&P/ASX 200 Index (ASX: XJO)’s return of around 25% over the past year.

The post European Lithium (ASX:EUR) share price soars 30% following presentation appeared first on The Motley Fool Australia.

More reading

• What you need to know about the CBA (ASX:CBA) dividend dates in 2021
• CBA, James Hardie and Challenger profit in the spotlight. Scott Phillips on Nine’s Late News
• Why Core Lithium, IRESS, Lake Resources, & Rhinomed are storming higher
• ASX investors can’t get enough! ETF inflows hit new record high
• Galileo (ASX:GAL) share price lifts on drill results, up 30% in a month

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Commonwealth Bank of Australia (ASX: CBA) dividend is always a hot topic among investors who hold CBA shares. And that’s particularly true this time of year.

Excitingly, the bank released its full-year results this morning, and within them is all the information shareholders need to know about the incoming dividend.

We’ve laid it all out for you below.

What you need to know about CBA’s dividend dates

Commonwealth Bank released the details of its final dividend today. The dividend will see the bank handing its shareholders $2 for every CBA security they hold. CBA can now boast a dividend yield of 3.24%. It also means Commonwealth Bank will soon have given out $3.50 worth of dividends for the 2020 financial year.

Here are the important dates CBA shareholders need to know:

• The ex-dividend date will be 17 August 2021.

That’s when investors must have finalised their purchase of CBA shares or miss out on the dividend.

• The record date for CBA’s final dividend is 18 August 2021.

That’s the date by which shareholders have to be on the company’s books to receive their dividend payout.

• The payment date for the Commonwealth Bank dividend will be 29 November 2021.

That’s when investors will see $2 deposited in their bank account for each CBA share they hold.

It probably won’t surprise CBA shareholders, but the bank’s upcoming dividend is fully franked at 30%. Meaning it might help reduce the amount of income tax shareholders need to pay.

Commonwealth Bank share price snapshot

Today saw the Commonwealth Bank share price hit a record high of $109.03 in intraday trade.

It has since dropped back to $107.95, 1.3% higher than its previous close.

That sees the bank’s shares trading for 31% more than they were at the start of 2021. They’ve also gained 44% since this time last year.

The post What you need to know about the CBA (ASX:CBA) dividend dates in 2021 appeared first on The Motley Fool Australia.

More reading

• CBA, James Hardie and Challenger profit in the spotlight. Scott Phillips on Nine’s Late News
• Westpac (ASX:WBC) share price lags the big banks’ after NZ ‘formal warning’
• Everything you need to know about the CBA (ASX:CBA) $6bn share buyback
• Will the CBA (ASX:CBA) share price be pressured by lower loan profitability in FY22?
• ASX 200 midday update: CBA results and $6bn buyback, IAG falls

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Tuesday night to discuss the stunning earnings growth of James Hardie Industries (ASX: JHX), Challenger Ltd (ASX: CGF)’s bounceback, and looks ahead to Wednesday’s CBA earnings report.

The post CBA, James Hardie and Challenger profit in the spotlight. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

More reading

• Westpac (ASX:WBC) share price lags the big banks’ after NZ ‘formal warning’
• Everything you need to know about the CBA (ASX:CBA) $6bn share buyback
• Will the CBA (ASX:CBA) share price be pressured by lower loan profitability in FY22?
• ASX 200 midday update: CBA results and $6bn buyback, IAG falls
• Commonwealth Bank (ASX:CBA) share price record high after dividend boost

Motley Fool contributor Scott Phillips has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Challenger Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing, the benchmark index is up 0.4% to 7,590.8 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up over 8% to 39 cents. Investors have been buying the lithium developer’s shares after it raised $91 million through an institutional placement and announced an offtake agreement. The former was undertaken at a 13.9% discount of 31 cents per share. In respect to the latter, Core Lithium revealed that it has executed a binding offtake agreement with leading Chinese lithium supplier, Ganfeng Lithium. Ganfeng has also invested $34 million into the company.

IRESS Ltd (ASX: IRE)

The IRESS share price is up 5% to $15.11. The catalyst for this solid gain was the financial technology company receiving an improved takeover proposal. According to the release, IRESS has received a further confidential, non-binding, and indicative proposal from EQT to acquire all of IRESS’ shares at a revised implied value of $15.91 cash per share before franking credits. This compares to its previous offer of $15.30 to $15.50 per share. Due diligence has been granted and a board recommendation could be forthcoming if the offer becomes binding.

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price has jumped 9.5% to 63 cents. This morning the lithium explorer revealed that UK Export Finance has provided a strong expression of interest to support approximately 70% of the total finance required for the Kachi Lithium Project. Management believes this is a watershed moment for the company.

Rhinomed Ltd (ASX: RNO)

The Rhinomed share price has surged 55% higher to 31 cents. Investors have been buying the medical device company’s shares after it announced a major order for its Rhinoswabs from NSW Health Pathology. The company will initially supply one million Rhinoswabs as part of NSW Health Pathology’s program to support COVID testing capability.

The post Why Core Lithium, IRESS, Lake Resources, & Rhinomed are storming higher appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: CBA results and $6bn buyback, IAG falls
• Why the Rhinomed (ASX:RNO) share price is rocketing 90% higher today
• Core Lithium (ASX:CXO) share price rockets 20% on capital raising efforts
• Why the Lake Resources (ASX:LKE) share price is jumping 11% today
• IRESS (ASX:IRE) share price shoots higher after new takeover proposal

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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It’s well known that the ASX exchange-traded fund (ETF) is an investment vehicle that seems to grow more popular by the day. Offering an accessible and relatively cheap way to invest in entire indexes, ETFs have been around for a while. But this vehicle has really hit its stride over the past few years in particular.

Back in December last year, the Motley Fool covered what was then a record-breaking month of November for ASX ETFs. At the time, we reported that funds under management grew by $4.9 billion over November 2020. That was a new monthly record at the time. We also saw ETFs rise to represent a market capitalisation of $78.7 billion. This was boosted even further to $92.3 billion by the conversion of the sizable Magellan Global Fund (ASX: MGF) to an actively managed ‘open class’ ETF.

Over that month, ETFs also saw a record monthly inflow of $2.5 billion.

Well, fund-provider BetaShares has just released its July 2021 Australian ETF Review. And it seems that momentum is only increasing for the industry.

BetaShares’ report tells us that the month of July 2021 saw ASX ETFs once again break the all-time record for fund inflows. A whopping $2.8 billion made its way into exchange-traded funds over the month. The previous record of $2.7 billion was made in December 2020. Of that $2.8 billion, 90% came from inflows, with only 10% coming from market appreciation.

This also helped push the total market cap for ASX ETFs to a record $118.8 billion. That’s pretty substantial growth from November’s $92.3 billion.

Which ASX ETFs were the standout performers?

The BetaShares report also gives us some interesting insights into which funds are giving investors the best bang for their buck. It names healthcare, followed by cybersecurity and ASX resources shares, as being some of the best performing sectors over July.

In terms of raw inflows, the report names ETFs covering international shares as being ASX investors’ top choice over the month. $1.6 billion found its way into international ETFs. That was around 4 times more than the next category (Australian shares).

BetaSahres also found that 65% of new ETF inflows over the month ended up with just two ETF providers (out of 31). They were BetaShares itself and Vanguard. The top ETF recipient of these inflows was the Vanguard MSCI Index International Shares ETF (ASX: VGS). This ETF received ~$228.3 million in funds over the month. This was followed by the Vanguard Australian Shares Index ETF (ASX: VAS), which received roughly $178 million. Close behind was the BetaShares Nasdaq 100 ETF (ASX: NDQ) with $126.8 million. And the BetaShares Global Sustainability Leaders ETF (ASX: ETHI) with $115 million.

The post ASX investors can’t get enough! ETF inflows hit new record high appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia owns shares of and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended Vanguard MSCI Index International Shares ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Galileo Mining Ltd (ASX: GAL) share price has jumped into the green, extending the previous month’s climb north.

Today’s gain comes as Galileo delivered an update on drilling results at its Fraser Range drill program.

Let’s investigate further.

Quick recap on Galileo Mining

Galileo is in the minerals exploration business. It holds exploration and drilling interests in Western Australia.

Its flagship projects are the Fraser Range project in addition to the Albany-Fraser Orogen and Norsemen Project.

The prospects cover exploration licences of approximately 492km2 and 351km2 respectively.

At the time of writing, Galileo has a market capitalisation of $48 million.

What did Galileo announce?

Galileo announced that the first two first reverse circulation (RC) drill holes at its Fraser Range site “intersected semi-massive sulphide mineralisation”.

These semi-massive sulphides are predominantly pyrrhotite with minor copper sulphide within “larger zones of disseminated sulphide”.

Moreover, the intersections could signify a “new style” of mineralisation at Fraser Range, according to the company. As such, further economic potential will be assessed “with diamond drilling” after the RC drill sample assays are in hand.

Galileo also completed two drill holes for 428m at its Delta Blues DB2 prospect “with a third hole underway”.

At this stage, the “economic implications of the initial results” regarding its drilling program are uncertain, according to Galileo, and “deeper diamond drilling [is] required” to test further.

Investors can expect lab results back in Galileo’s hands by September, as per the release.

The market has lapped up Galileo’s announcement, pushing its share price higher after hitting an intraday low of 33 cents.

To illustrate, Galileo shares are now exchanging hands at 35 cents apiece, a 4% gain on the day.

Galileo Mining share price snapshot

The Galileo Mining share price has posted a year to date return of 55%, extending the previous 12 months’ gain of 11%.

As a result, Galileo shares have lagged the S&P/ASX 200 Index (ASX: XJO)’s climb of around 25% over the past year.

The post Galileo (ASX:GAL) share price lifts on drill results, up 30% in a month appeared first on The Motley Fool Australia.

More reading

• Why the Galileo Mining (ASX:GAL) share price is racing 12% higher today

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Andromeda Metals Ltd (ASX: ADN) share price is slightly in the red today. This comes after the mineral exploration company announced a change to its board team.

At the time of writing, Andromeda shares are down 1.88% to 15.7 cents. In comparison, the All Ordinaries Index (ASX: XAO) is up 0.5% to a record high 7,866 points.

Board reshuffle

In a statement to the ASX, Andromeda advised that Nick Harding has tendered his resignation from the board. Mr Harding served as an executive director and company secretary to the company.

In his past 11 years, Mr Harding assisted Andromeda to grow from a junior explorer to an established player in the mining industry. However, he has since decided to retire and pursue other opportunities and personal ambitions.

As such Andrea Betti has been appointed as the interim company secretary until a permanent replacement is found.

Ms Betti, a corporate governance professional, brings over 20 years of experience specialising in accounting, corporate governance, finance and corporate banking. Furthermore, Ms Betti has acted as company secretary for a number of businesses in the private and public sectors.

Currently, she is a director of a corporate advisory firm located in Perth, Western Australia.

Ms Betti is a member of the Institute of Chartered Accountants in Australia and New Zealand and an associate member of the Governance Institute of Australia. She holds an array of qualifications that most notably include a Bachelor of Commerce and a Master of Business Administration.

Mr Harding will continue to contribute in a consulting capacity through a handover phase.

Andromeda chair, Rhod Grivas commented:

On behalf of the Board of Andromeda, I would like to extend our sincere thanks to Nick for his efforts and contribution to the Company over the many years he has served as a Director, CFO and Company Secretary.

Nick has given distinguished service to the Company for more than 11 years and his substantial contribution in guiding the Company through some lean years and the significant transactions that have led to the Company being where it is today, are to be commended. We wish Nick all the very best for the future.

About the Andromeda share price

Andromeda shares have fallen roughly 40% year-to-date, but have risen 200% over the past 12 months. The company’s share price reached a record high of 45 cents in March, before being sold off in the following months.

Andromeda commands a market capitalisation of around $387.5 million, with more than 2.4 billion shares on its registry.

The post Andromeda (ASX:ADN) share price edges lower on board reshuffle appeared first on The Motley Fool Australia.

More reading

• Here’s why the Andromeda Metals (ASX:ADN) share price is jumping 13%

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Bitcoin (CRYPTO: BTC) price currently stands at US$45,721 (AU$62,630).

While that’s down about 1% over the past 24 hours, Bitcoin remains up 20% over the past 7 days. And its year-to-date returns are back up to 57%.

The recent rally has some crypto enthusiasts forecasting that the token will sail past its mid-April record highs of US$64,829 to hit US$100,000 by year’s end.

We’ll look at their bullish forecasts shortly.

But first, why has Bitcoin retraced over the past 24 hours?

All eyes on the US Congress

United States President Joe Biden’s US$1 trillion infrastructure package got the green light from the US Senate yesterday (overnight Aussie time). The bill passed 69 to 30, opening up massive new funding for the nation’s airports, bridges and roads.

So, why is that putting pressure on Bitcoin and other cryptos?

Because the bill includes new regulatory oversights and tax implications for virtual currencies.

Addressing crypto investors’ concerns on the issue, Lucia della Ventura, legal compliance manager at financial software company Ledgermatic, told CoinDesk:

The crypto sector itself is new, and leaning on a nascent technology industry for taxes could impair its growth. It is necessary to wait for the final vote, taking into account that several amendments have been tabled as they can potentially change the impact of the bill for companies.

Those amendments were blocked in the final bill, likely leading to today’s Bitcoin price retrace.

Ethereum (CRYPTO: ETH), the world’s second largest crypto by market cap, is also edging lower, down a slender 0.2% over the past 24 hours to US$3,137.

But the spectre of an added regulatory and tax burden out of the US hasn’t derailed Bitcoin bulls’ enthusiasm following the recent rally.

Bitcoin to US$100,000?

Craig Erlam is a senior market analyst at OANDA Europe. According to Erlam (quoted by Bloomberg), “Bitcoin has found its groove once more over the last week. Now very much back into bullish territory, the question is how far it can go this time around.”

Meltem Demirors, chief strategy officer at crypto fund provider CoinShares, shares Erlam’s bullish outlook, saying Bitcoin is “roaring back”.

He said that the new regulatory measures passed within the US infrastructure bill aren’t likely to impede the current bull run. In fact, Demirors says:

[M]any investors perceive this as positive news and a positive catalyst because it’s clearing up a lot of the confusion or some of the uncertainty. And I think what’s being demonstrated as well is the crypto community is no longer some esoteric corner of finance.

Meanwhile, Bloomberg Intelligence’s Mike McGlone is eyeing the token breaking above US$100,000. Comparing Bitcoin to Ether’s run higher, McGlone said, “It’s still got plenty of room to get the old high. And guess what? If it just follows Ethereum, it goes to $100,000.”

Joining the ranks of Bitcoin bulls is Fundstrat Global Advisors’ Tom Lee. Lee believes Bitcoin could hit US$100,000 before we ring in the New Year.

Foolish takeaway

Before anyone runs out and loads up on Bitcoin, Ether, or some of the smaller high performing altcoins, remember that just a few weeks ago, many crypto experts were forecasting Bitcoin could retrace to US$20,000 before finding a floor.

A fall to US$20,000, or far lower, certainly remains a possibility.

As for investors eyeing a potential charge higher for the world’s leading crypto, never invest more than you’re prepared to lose.

The post Bitcoin to US$100,000 in 2021? Why these crypto bulls are digging in appeared first on The Motley Fool Australia.

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• Bitcoin is now up 40% in just 3 weeks. What’s going on?
• Beyond Bitcoin – the risks and rewards of investing in altcoins
• Is the cryptocurrency bear market over?
• ASX 200 Weekly Wrap: Blockbuster Afterpay deal turbocharges ASX to new record highs
• Bitcoin price back in the green but this wealth manager won’t touch it

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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