Institutional Investors Forecast Strong Year for Bitcoin in New Survey
The results of a new survey have revealed that institutional investors expect "a strong year ahead for bitcoin" and are confident about the cryptocurrency’s long-term valuation. 65% of institutional investors surveyed agree that bitcoin could reach USD 100,000.
"Strong Year Ahead for Bitcoin"
Nickel
Digital Asset Management published the results of a survey on Thursday,
revealing expectations of the bitcoin price level among high-level
institutional investors. The London-based investment manager is registered with
the UK Financial Conduct Authority (FCA) and the US Commodity Futures Trading
Commission (CFTC).
A
market research company, Pureprofile, conducted a survey this month
commissioned by the
London-based investment manager, Nickel Digital Asset Management. The survey interviewed 200
institutional investors and wealth managers across the US, UK, Germany,
Singapore, Switzerland, the UAE, and Brazil. The respondents collectively
manage approximately USD 2.85 trillion in assets.
Sharing
the results of the survey, Nickel Digital Asset Management said:
"Professional
investors are forecasting a strong year ahead for bitcoin and are confident
about its long-term valuation. Nearly nine out of 10 professional investors
predict a bitcoin price rise this year. Two out of three agree that a USD
100,000 valuation is possible, but only for long-term investors."
The
investment manager described "The study found high levels of confidence
on the long-term trend of the cryptocurrency," adding that 23% have
forecast that BTC will exceed USD 30,000 by the end
of 2023.
65% Surveyed Expect Bitcoin to Reach USD 100K
65%
of institutional investors surveyed agree bitcoin could reach USD 100,000 in
the long term. 58% of them expect bitcoin
to reach the price within three to five years, while 25% expect it to take five
or more years.
39%
of the total respondents predicted that the price of bitcoin will reach its
November 2021 peak of USD 69,000 within three years, while 76% agree that it is
more likely to happen in five years.
Nickel
CEO Anatoly Crachilov said:
"Price
prediction in the cryptocurrency market is always a daunting task; however, the
most significant finding in our survey is that only 3% of investors are
questioning the future of bitcoin."
What
is your take on the bitcoin price scaling to USD 100K? Please post your
comments.
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