Bitcoin (BTC) Could Surge To $100K; Billionaires Are Betting On It – Bloomberg Report
Bitcoin (BTC)-related predictions are getting more and more optimistic these days despite the recent falloff BTC below $10k.
It seems that crypto holders don’t care about the prices in the market too much at the moment, and institutional players are getting more bullish on BTC these days.
Institutional investors believe BTC can reach $100k
According to the Daily Hodl, Institutional Players with $10 million to $1 billion in assets are reportedly interested in betting on whether BTC will rise to $100k.
Ledger X has recently received approval to launch BTC derivatives trading from the US Commodities Futures Trading Commission, is preparing to launch a call option that pays off if BTC breaks $100K by December of 2020, reports Bloomberg.
According to LedgerX CEO Paul Chou, the company’s clients are attracted to the big bet on Bitcoin.
“Dozens and dozens of these institutions got back to us saying we’d be interested in trading a contract like this. I understand $100,000 is a large number, but a lot of us who’ve been in this space remember Bitcoin at $1, and then it hit $10 and $100 and $10,000. A $100,000 contract doesn’t even make us blink.”
BTC reportedly poised to reach $10 million
As we already said, the BTC-related predictions are getting more bullish with each passing day.
Not too long ago, it was revealed that a crypto analyst who is known for applying the stock-to-flow ratio to BTC has revealed a bunch of calls where the price of the most important crypto in the space might be heading.
Plan B crypto analyst believes that BTC will be hitting $1 million in less than a decade before it will eventually hit $10 million. He’s basing his forecast on the indicator mentioned above.
At the moment, BTC is trading in the green on CMC and the most important crypto in the market is priced at $9,934.31.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.