Main monetary companies 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 top of this yr.
Bitcoin’s Worth Estimate by Crypto Fund Managers
PWC, a Massive 4 accounting agency, printed its “4th Annual World 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 belongings underneath administration (AUM) have been $4.1 billion in 2021.
The report consists of bitcoin worth 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 Massive 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 worth being $75,000,” PWC detailed:
Nearly all of predictions have been throughout the $75,000 to $100,000 vary (42%), with one other 35% predicting the BTC worth to be between $50,000 and $75,000 by the top of 2022.
John Garvey, PWC United States’ world monetary companies chief, commented:
The current collapse of Terra vividly demonstrated the potential dangers in digital belongings. 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 coming into the crypto area,” he concluded.
PWC additionally defined that 38% of conventional hedge funds surveyed are at present investing in digital belongings, in comparison with 21% a yr 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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