Bitcoin

Institutional Investors To Unleash More Massive Bitcoin ETF Buying, BTC May Soar Past $200k This Year, Bitwise Says

1 Mins read

[ad_1]

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Bitcoin ETF
Bitcoin ETF

Join Our Telegram channel to stay up to date on breaking news coverage

Crypto asset manager Bitwise says institutions holding “trillions of dollars in assets” will unleash a wave of spot Bitcoin ETF (exchange-traded fund) buying by the end of June. 

Investors including large corporations, institutional consultants and huge wirehouses all want to increase their exposure to Bitcoin (BTC) in the next few months, said the asset manager’s chief investment officer, Matt Hougan, in a March 9 note

“I’d suspect we’ll see our first significant flows from these three groups in Q2 2024,” he said, adding that the inflows will ”accelerate throughout the year.”

Spot Bitcoin ETF: What Is It & Should You Buy It? (2023) - Athena Alpha

Bitcoin ETF Inflows Could Blast BTC Price Past $200,000 In 2024

Hougan said the institutional flood gates have been opened for the Bitcoin market and that that has ignited a new “price discovery” era for the largest crypto in terms of market capitalization.

As a result, he believes BTC could surpass Bitwise’s 2024 price target of $80,000, reaching as high as $100,000 to $200,000 or even higher.

The prediction is based on his belief that the supply of BTC cannot keep up with surging demand, a sentiment echoed by MicroStrategy’s Michael Saylor. 

This comes after the newly-launched Bitcoin ETF investment vehicles collectively registered nearly $9 billion in net inflows since Jan. 11.

Related Articles:

New Crypto Mining Platform – Bitcoin Minetrix

Bitcoin Minetrix
  • Audited By Coinsult
  • Decentralized, Secure Cloud Mining
  • Earn Free Bitcoin Daily
  • Native Token On Presale Now – BTCMTX
  • Staking Rewards – Over 50% APY

Bitcoin Minetrix


Join Our Telegram channel to stay up to date on breaking news coverage


[ad_2]
Source link

Related posts
Bitcoin

Cardano Founder Clears FUD About Hydra, Scaling, Partners

2 Mins read
[ad_1] In a series of messages over the weekend, Charles Hoskinson, the founder of Cardano, addressed various concerns and rumors circulating about…
Bitcoin

Ethereum Price Grinds Lower, Why Pullback Is Not Over Yet

2 Mins read
[ad_1] Ethereum price started a downside correction below $3,650. ETH traded below $3,500 and is currently attempting a decent recovery wave in…
Bitcoin

Group Urges US President Joe Biden to Secure Release of ‘Kidnapped’ Former Federal Agent

1 Mins read
[ad_1] The Chamber of Digital Commerce, a blockchain and crypto advocacy group, has urged U.S. President Joe Biden to assist in securing…

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *