The mainstream adoption of Bitcoin is going great, and the king coin’s price is also nicely recovering after a drop below $17k.
At the moment of writing this article, BTC is up by more than 3% in the past 24 hours, and the digital asset is priced at $18,435.47.
A huge wave of institutional money buy BTC
It’s been reported that the former Goldman Sachs fund manager and current Real Vision CEO Raoul Pal said that he sees a massive wave of institutional money buying Bitcoin.
During a new interview with CT’s Giovanni Pigni, Pal said that BTC’s return to near $20,000 levels is just the beginning.
“From what I know, and I know a lot of people in the industry, they are all onboarding institutional clients, family offices, endowments, at an enormous pace. But $20,000 here is not the same as $20,000 back then [in 2017]. Back then it had gone up 100 fold when it got up to $20,000; we haven’t even started this yet,” he said as cited by the Daily Hodl.
He continued and pointed out: “Later on when things get speculative, we will see something similar potentially play out. But the difference is, where these guys are getting it wrong, is they’re saying, ‘People aren’t as interested.’ Ya, but the real money is interested, and that’s a game-changer.”
Pal said that Bitcoin is one of the most unique trades that he’s ever seen and the king coin will benefit in the future months regardless of the global economy.
New predictions for Bitcoin’s price
Pal also dropped new predictions for the price of Bitcoin.
“If I was to be conservative, I’d say $150,000,” and then he continued and said: “I actually have a feeling it might be above his target of about $250,000 but I don’t know. But I like that optionality. ”
Make sure to check out the video above to learn more about what he had to say.