Institutional Investors Forecast Strong Year for Bitcoin in New Survey

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."

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