More than half of institutional investors see Bitcoin above $100,000
A report published last week by Nickel Digital Asset Management shows institutional investors' expectations regarding the price of Bitcoin.
The survey, commissioned by the asset manager and conducted by market research firm Pureprofile, surveyed 200 institutional investors and wealth managers from a variety of countries around the world, including the US, UK, Germany, Singapore, Switzerland, UAE and Brazil.
Survey respondents collectively have nearly $3 trillion in assets under management.
- Professional investors are predicting a strong year for bitcoin and are confident in its long-term valuation.
- Almost nine out of 10 professional investors predict an increase in the price of bitcoin in 2023.
- Two out of three agree that a $100,000 valuation is possible in the long term.
According to the study, investors have “confidence about the cryptocurrency’s long-term trend,” adding that 23% predicted that BTC will surpass $30,000 by the end of 2023.
About 58% of respondents expect Bitcoin to reach $100K within three to five years, while 25% say it will take five or more years.