Bitcoin prices are rising and I have a lot of big investment companies and investors who think this year the price of Bitcoin will go after 100000 thousand dollars. Mathew McDermott thinks BTC will reach 100$K dollars this year. ” He clarified that “all of our institutional client discussion is basically focused around bitcoin.”
His team received responses from 280 institutional clients and published the results of the survey in the week. “What’s been particularly interesting,” consistent with McDermott, was that “40% of the clients currently have exposure to cryptocurrencies,” which he explained might be in any forms, from “physical through derivatives, through securities products, or other offerings within the market.” the chief revealed:
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He further described that “corporate treasurers, for instance, they’re curious about two different aspects.” the primary is whether or not they ought to be “investing in bitcoin on their record,” McDermott detailed, citing that “the key drivers from their perspective are negative rates … [and] just the overall fears around asset devaluation.”
Besides, he said that they're also thinking “should we consider it as a payment mechanism? particularly within the context of Tesla’s announcement.” Elon Musk’s electric company, Telsa, said that it invested $1.5 billion in bitcoin in January and can soon be accepting the cryptocurrency as a way of payments for its products.
Out of the institutional clients that have crypto exposure, the survey shows that 41% own physical or spot crypto.
Bitcoin to the moon this year
Yes, right.