INVESTORS BETTING BITCOIN COULD REACH $100,000 IN ONE YEAR
BITCOIN investors, which include top hedge funds and money managers, are betting the virtual currency could more than quintuple to as high as $100,000 in a year.
It’s a wager that has drawn eye-rolls from skeptics who believe the volatile cryptocurrency is a speculative asset rather than a store of value like gold, reports Reuters.
Bitcoin is now within sight of its all-time peak of just under $20,000 hit in December 2017. It debuted in 2011 at zero and was last trading at $18,415.
oing from $18,000 to $100,000 in one year is not a stretch, Brian Estes, chief investment officer at hedge fund Off the Chain Capital, said.
“I have seen bitcoin go up 10X, 20X, 30X in a year. So going up 5X is not a big deal.”