Could Bitcoin's Market Cap Reach $3 Trillion? Here's Why Researchers Predict 'Yes'
Portfolio Pulse from Murtuza Merchant
Bernstein analysts predict Bitcoin's market cap could exceed $3 trillion by mid-2025, citing low churn rates, the upcoming Bitcoin halving, new FASB accounting guidelines, potential approval of a U.S.-listed spot Bitcoin ETF, and its use as a hedge against currency debasement. The SEC is engaging with asset managers like BlackRock and Ark Invest on ETF applications.
November 20, 2023 | 9:52 pm
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Ark Invest is also engaging with the SEC on Bitcoin ETF applications, which could positively impact its ETF offerings.
Approval of a Bitcoin ETF would likely be beneficial for Ark Invest as it would enhance its reputation as an innovative ETF provider and could lead to increased assets under management, positively affecting its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
BlackRock is mentioned as engaging with the SEC on applications for a Bitcoin ETF, which could impact its business if approved.
The potential approval of a Bitcoin ETF would likely expand BlackRock's product offerings and attract more clients interested in cryptocurrency exposure, potentially boosting its stock in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70