This price prediction is likely going to happen during the coming cycle, approximately late 2021 or the beginning of 2022. The reason why big investors are attracted to BTC is Bitcoin’s success in becoming the world’s most valuable digital coin and now it is represented as a legit form of asset.
Why institutional money will push the BTC price?
BTC found are on the rise and the existing funds are doubling down. Recently the New York Digital Investment Group (NYDIG), raised 190 million dollars from just 24 investors, meaning that each of these investors put in close to eight million dollars in investing for their newest BTC offering.
In April 2020, the Toronto stock exchange approved The Bitcoin Found to hold an IPO and is now a publicly-traded stock on Canada’s premier stock market.
Grayscale investment trust which keeps doubling down on BTC. Since the Bitcoin halving, they have purchased the equivalent of 150% of all of the newly mined Bitcoin. The investors are looking to gain exposure to the best performing asset of the last decade. In fact, Grayscale has been a major factor post-halving. They are on track to own up to 3.5% of the total supply of BTC by next year.
Wilshire Phoenix announced that they will be also entering the Bitcoin investment trust game, launching a product almost exactly the same as Grayscale. This means that another player maybe has 1 up to 3 percent of the total amount of BTC funds under their control.
Bakkt offers physically settled and backed Bitcoin products, and their physically settled products are growing in popularity. Many institutional investors prefer to gain exposure to Bitcoin via cash-settled futures.
Germany’s biggest stock exchange added a fully backed Bitcoin ETP. In Switzerland, they have multiple exchange-traded products available on their SIX Swiss Exchange. And more examples.
In many ways, other countries are already starting to beat the USA at the regulation game. While the US recently had approval for an Ethereum token which is backed by US treasuries, but still the Bitcoin ETF has not yet happened and that Cryptocurrency regulation has not been made more clearly in the USA, has actually held money back from flowing into Bitcoin, particularly from the institutional crowds.
As different legal precedents develop many investors are starting to feel more confident trading Bitcoin, but the approval of the Bitcoin ETF in the USA will be huge news for Bitcoin.
To sum up – BTC is on the rise and nobody can deny this fact. But from predictions and evidence, the big players are pushing the price up, institutions, and ultra-wealthy class. Also regulation for Cryptocurrencies can help to grow the world of digital assets.
Buen artículo sobre bitcoin, estoy seguro de que BTC alcanzará los $ 100K como dijiste aquí
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