Main monetary providers agency PWC has performed a research and located that almost all of crypto fund managers surveyed imagine that the worth of bitcoin could be between $75K and $100K by the tip of this 12 months.
Bitcoin’s Value Estimate by Crypto Fund Managers
PWC, a Huge 4 accounting agency, printed its “4th Annual International Crypto Hedge Fund Report” final week. It was produced along with the Various Funding Administration Affiliation (AIMA) and Elwood Asset Administration (now a part of Coinshares).
The info within the report comes from a survey performed in April throughout a pattern of 77 specialist crypto hedge fund managers, PWC defined, including that their whole property below administration (AUM) have been $4.1 billion in 2021.
The report contains bitcoin value predictions. “We gave crypto fund managers the chance to contribute their estimates on the place the worth of BTC and the general cryptocurrency market capitalization could be on 31 December 2022,” the Huge 4 accounting agency detailed.
The outcomes confirmed that “whereas the general crypto market was fairly bearish, managers remained extraordinarily bullish on BTC,” the report describes. Noting that “the median prediction of BTC value being $75,000,” PWC detailed:
Nearly all of predictions have been inside the $75,000 to $100,000 vary (42%), with one other 35% predicting the BTC value to be between $50,000 and $75,000 by the tip of 2022.
John Garvey, PWC United States’ world monetary providers chief, commented:
The latest collapse of Terra vividly demonstrated the potential dangers in digital property. There’ll proceed to be volatility, however the market is maturing.
“With that’s coming not solely many extra crypto-focused hedge funds and better AUM but in addition extra conventional funds getting into the crypto area,” he concluded.
PWC additionally defined that 38% of conventional hedge funds surveyed are presently investing in digital property, in comparison with 21% a 12 months in the past. The agency added:
The variety of specialist crypto hedge funds is estimated to now prime 300 globally.
Moreover, 46% of crypto hedge funds surveyed revealed that they’re concerned in cryptocurrency staking, 44% are engaged in lending, and 49% are concerned in borrowing.
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