CoinShares’ chief strategy officer (CSO) Meltem Demirors is expressing bullish sentiment on Bitcoin (BTC) amid the approval of a spot exchange-traded fund (ETF) in the United States.
Demirors says in a new CNBC interview that Bitcoin could surge to at least $100,000 amid the potential injection of new capital into the asset class.
“I think we can reasonably estimate that if we just look at the retirement accounts in the US, $34 trillion pie, if even 0.5% of that gets allocated over the first two years into Bitcoin, that’s a huge uptick from current assets under management.
So I think even just looking at the global investable asset base, growing acceptance of Bitcoin as an asset class and also growing sentiment that the 60/40 portfolio (allocating 40% of a portfolio to fixed income assets and 60% to stocks) is not relevant anymore.
I think it’s a strong sort of indicator that we could see potentially material flows orders of magnitude anywhere from $25 to $100 billion in year one…
I think we’re going over six figures by the end of the year.”
Bitcoin is trading at $47,132 at time of writing and would have to appreciate by 112% or slightly over 2x to reach Demirors’ 2024 $100,000 price target.
According to the CoinShares CSO, more than two-thirds of the current assets under management (AUM) in existing crypto exchange-traded products invest in Bitcoin.
“So as of today there’s $53 billion of AUM globally in crypto exchange-traded products. So these are structured Products that trade as trackers effectively…
$53 billion of AUM, about 75% of that, $38 billion, is Bitcoin.”
I
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
The post Bitcoin To Surge 2x Amid Potential Inflows of up to $100,000,000,000, Says Meltem Demirors – Here’s the Timeline appeared first on The Daily Hodl.
