© Reuters
Investing.com – While the BTC is reluctant to hold above the key $30,000 threshold, several top investors continue to believe that the rise in cryptocurrency is just getting started, and that the next few months and years will see a real boom in BTC.
This is particularly the case with Michael Saylor, co-founder of Microstrategy, who spoke in a recent interview with Altcoin Daily, in which he predicted that institutional interest would push the market to exceed $1 million.
Saylor’s prediction of Bitcoin at $1 million in the long term is nothing new, however, in this new intervention, the investor explained how recent events have made him even more optimistic.
In particular, he pointed out that the adoption of Bitcoin by Blackrock, Fidelity, Citadel and other asset managers will benefit the cryptocurrency, as it is crucial in developing the infrastructure necessary for the mass adoption of Bitcoin.
For his part, Tom Lee of Fundstrat said in an interview with Bloomberg on Tuesday that Bitcoin could reach $200,000 within 5 years.
“Bitcoin is very useful. I think in the United States there is a tendency to think that the financial system works well for everyone (…) but for people who have money, it works well,” said Lee.
The investor also felt that the market is underestimating the impact of allowing an exchange-traded fund (ETF) for bitcoin in the United States.
“I think people are underestimating the importance of the Bitcoin ETF,” he said, explaining that he believes “a dollar of inflow is four dollars for the price change in Bitcoin’s market cap” and therefore calculating that a $100 billion or $200 billion demand (for a spot Bitcoin ETF) could represent an $800 billion capitalization gain for Bitcoin.