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On March 1st, according to Cointelegraph, Matt Hougan, the Chief Investment Officer of Bitwise, explained in a CNBC interview, "I think a few months from now, there will be a bigger wave for Bitcoin ETFs because we are starting to see major large brokerage firms taking action. So, we will see the next wave of institutional capital coming." He added that the first wave of interest in Bitcoin ETFs mainly came from retail, hedge funds, and independent financial advisors. He referred to ETFs as the "IPO moment" for Bitcoin.
Hougan stated that Bitcoin ETFs have triggered a "new era of price discovery." When discussing the amount of Bitcoin purchased through Bitcoin ETFs compared to the daily mined Bitcoin and the upcoming halving event, Hougan mentioned that the supply-demand dynamics have just "broken out of a dilemma." Hougan suggests that the next wave of institutional interest might significantly drive up the price of Bitcoin. When asked how high it could go, Hougan stated that Bitcoin could surpass Bitwise's initial prediction of $80,000 by 2024 and reach $100,000 to $200,000 or even higher. |
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Post time 13-3-2024 09:31:39
