Bitcoin's Market Cap Poised to Triple Amid Economic Turmoil
Renowned hedge fund manager and macro investment strategist Hugh Hendry has recently expressed a positive outlook on Bitcoin, predicting that its market capitalization could nearly triple to $1.5 trillion amidst worsening macroeconomic conditions.
In a recent interview with Bloomberg, Hendry, known for his astute analysis of macroeconomic trends, stated that Bitcoin would emerge as a top-performing asset, particularly in times of volatility. He projected that the market capitalization of BTC, currently at $588 billion, could reach $1.5 trillion.
Hendry contextualized Bitcoin's potential growth within the broader asset allocation landscape, highlighting its position in the "world of asset allocation within a bucket that we call alternatives." This category includes private equity, commercial property, and gold, with a total value of $100 trillion. With Bitcoin currently at half a trillion dollars, he suggested that it could triple in value, reaching $1.5 trillion and making it comparable in size to Apple.
The strategist expressed optimism that Bitcoin's market capitalization would receive a significant boost from both regulatory pressure on other non-commodity digital assets and increased institutional participation. He cited BlackRock's recent efforts to introduce a spot Bitcoin exchange-traded fund (ETF) as an example of growing institutional involvement.
BTCUSD SELL 30400 - 30600 💯💯
✅ TP1: 29800
✅ TP2: 29200
✅ TP3: 28600
🛑 SL: 31000
In a recent interview with Bloomberg, Hendry, known for his astute analysis of macroeconomic trends, stated that Bitcoin would emerge as a top-performing asset, particularly in times of volatility. He projected that the market capitalization of BTC, currently at $588 billion, could reach $1.5 trillion.
Hendry contextualized Bitcoin's potential growth within the broader asset allocation landscape, highlighting its position in the "world of asset allocation within a bucket that we call alternatives." This category includes private equity, commercial property, and gold, with a total value of $100 trillion. With Bitcoin currently at half a trillion dollars, he suggested that it could triple in value, reaching $1.5 trillion and making it comparable in size to Apple.
The strategist expressed optimism that Bitcoin's market capitalization would receive a significant boost from both regulatory pressure on other non-commodity digital assets and increased institutional participation. He cited BlackRock's recent efforts to introduce a spot Bitcoin exchange-traded fund (ETF) as an example of growing institutional involvement.
BTCUSD SELL 30400 - 30600 💯💯✅ TP1: 29800
✅ TP2: 29200
✅ TP3: 28600
🛑 SL: 31000
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.