•A new survey shows that institutional investors expect „a strong year ahead for bitcoin“ and are confident about the cryptocurrency’s long-term valuation.
•The survey, commissioned by Nickel and conducted by market research company Pureprofile this month, interviewed 200 institutional investors and wealth managers across the U.S., U.K., Germany, Singapore, Switzerland, UAE, and Brazil.
•In addition, 65% of institutional investors surveyed agree that bitcoin could reach $100,000.
Institutional investors have given a strong indication that bitcoin will have a successful year in 2021. A survey conducted by Nickel Digital Asset Management and market research company Pureprofile has revealed that a majority of institutional investors are confident about the long-term prospects of the cryptocurrency.
The survey, which interviewed 200 institutional investors and wealth managers from across the U.S., U.K., Germany, Singapore, Switzerland, UAE, and Brazil, collected responses from those who manage a collective $2.85 trillion in assets. The survey revealed that nearly nine out of 10 professional investors predict bitcoin price rise this year.
In addition, 65% of the investors surveyed agree that bitcoin could reach $100,000. Of this group, 58% believe this will happen within three to five years, while 25% believe it will take longer than five years. Furthermore, 23% forecasted that BTC will exceed $30,000 by the end of 2023.
The survey results demonstrate that institutional investors are taking bitcoin seriously, and are confident in its long-term prospects. This is reflected in the fact that many institutional investors are pouring money into bitcoin, leading to a surge in its price. According to data from the U.S. Commodity Futures Trading Commission (CFTC), investments in bitcoin futures have grown exponentially since mid-2020.
This growing demand for bitcoin from institutional investors is also reflected in the increased number of trading platforms offering services to them. For example, the Chicago Mercantile Exchange (CME) Group now offers bitcoin futures and options for institutional investors, and more platforms are expected to follow suit.
The increasing confidence in bitcoin from institutional investors is a sign of its growing maturity and mainstream acceptance. This trend is likely to continue, as more investors recognize the potential of the cryptocurrency and its ability to provide a hedge against inflation. As such, the survey results indicate that the coming year could be a strong one for bitcoin.