It has been just revealed the fac that there is a factor that could send Bitcoin to the moon. Check out the latest reports about the price of the most important digital asset.
Bitcoin new prediction is out
An expert who goes by the name of InvestAnswers has made a prediction that if a Bitcoin (BTC) exchange-traded fund (ETF) is approved, it will attract huge investments from major Wall Street players.
The analyst has informed their 447,000 YouTube followers that Fidelity Investments, Charles Schwab, Citadel, Deutsche Bank, BlackRock, Nomura and Franklin Templeton collectively manage $25.22 trillion worth of assets.
The analyst suggests that if these seven companies were to invest just half a percentage point of their assets into spot Bitcoin ETFs in the first year after the April 2024 BTC halving, the value of Bitcoin could soar by approximately 3,219% in less than five years.
“[If Wall Street giants] allocate 0.5% of assets under management, that many believe they will probably do very easily, especially with the connections of pension funds et cetera that need some type of alpha to dig their pension funds out of a hole or else they’re just going to go backward and become defunct.”
The analyst continued and said the following:
“This is the assumption that 0.5% of assets under management goes in the first year from April 2024 all the way up. If this happens just for that first year, the demand will spike the price of Bitcoin by April 2028.
And again assuming that 0.5% allocation happens in the first year, another 0.5% in the second year et cetera, et cetera, that will take us to the price of $920,000 per Bitcoin in the year April 2028.”
An analyst has predicted that if Bitcoin ETFs are approved, Wall Street giants could potentially start buying BTC within the next three to six months.
According to the analyst, a senior executive from BlackRock has indicated that they plan to launch a spot ETF during this time frame.
It is important for BlackRock to act before the halving event, as they do not want to miss out on potential gains.
BTC is worth $27,715 at time of writing.
