5 Crypto Experts on Why Bitcoin May Surge as High as $1,000,000
Bitcoin’s price has jumped following a new report that the world’s biggest asset management company BlackRock is taking a close look at whether it should enter the cryptocurrency market.
The news is the latest in a series of signs showing how institutional money is gearing up to join the crypto craze in a major way.
Billionaire investor Steve Cohen has launched Cohen Private Ventures to invest in Autonomous Partners, a “new hedge fund that is acquiring both cryptocurrencies and equity in blockchain-related companies,” according to Fortune.
Meanwhile, leading US cryptocurrency exchange Coinbase is bringing Wall Street money into the market with the launch of Coinbase Custody.
The Goldman-backed crypto exchange Circle is also reporting a surge in institutional trading volume on its cryptocurrency trading app.
In addition, Swiss stock exchange SIX says it will roll out a cryptocurrency exchange of its own, reportedly the first of its kind. Frankfurt-based stock exchange Deutsche Börse AG, one of the top 10 exchanges in the world by market cap, is also considering trading cryptocurrency-related products.
The increase in adoption and awareness of crypto also comes as executives at huge wall street firms from Goldman Sachs to the New York Stock exchange announce their departures in droves to join the crypto movement and help shape the future of finance.
All of those reasons and more have a series of crypto experts feeling bullish about the future of the cryptocurrency market:
- Tom Lee, analyst at Fundstrat, a market strategy and research firm
- Chamath Palihapitiya, an early senior executive at Facebook, founder and CEO of Social Capital
- Brian Kelly, founder and CEO of cryptocurrency investment firm BKCM LLC
- Ran Neu-Ner, founder and CEO of enterprise tech company Onchain Capital
- Arthur Hayes, co-founder and CEO of BitMEX
Here’s a look at their predictions in this mashup from CNBC.