Crypto Expert Says Bitcoin Could Skyrocket By Over 600% Thanks To This Catalyst
Portfolio Pulse from Bibhu Pattnaik
James Butterfill, head of research at CoinShares, suggests that the approval of a spot Bitcoin ETF by the SEC could lead to a significant increase in Bitcoin's price, potentially over 600%. He estimates that a 10% investment in a spot Bitcoin ETF with a 1% average allocation could result in $14.4 billion of inflows in the first year, potentially pushing Bitcoin's price to $141,000. A larger inflow of $31.3 billion could lead to a price of $265,437, a 627% surge from its current value of $36,565.
November 19, 2023 | 5:02 pm
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The potential approval of a spot Bitcoin ETF by the SEC could lead to substantial inflows into Bitcoin, driving its price significantly higher, potentially by over 600% according to James Butterfill's analysis.
The analysis by James Butterfill indicates a strong correlation between inflows into a potential spot Bitcoin ETF and the price of Bitcoin. The projected inflows are based on assumptions about investor behavior and allocation, which could lead to a significant increase in demand and price for Bitcoin if a spot ETF is approved by the SEC.
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