The famous host of InvestAnswers makes a bold prediction. Accordingly, he shares his thoughts on the cryptocurrency Bitcoin price. The analyst also directs his followers by saying, “I’m buying.” The gist of this prediction boils down to a potential game changer for BTC investors. It centers around the approval of spot Bitcoin ETFs. According to the presenter, if the stars align as expected, Bitcoin’s price will rise by a staggering 3,200%.
Spot Bitcoin ETF approval and Wall Street giants’ cryptocurrency race
InvestAnswers host, who has nearly half a million subscribers on YouTube, shares important details for a cryptocurrency. Accordingly, he predicts that with the approval of spot Bitcoin ETFs, there will be a very important moment in the journey of the cryptocurrency Bitcoin. He suggests that this move could attract significant investments from major players on Wall Street.
The analyst highlights that financial giants such as Fidelity Investments, Charles Schwab, Citadel, Deutsche Bank, BlackRock, Nomura, and Franklin Templeton collectively manage a staggering $25.22 trillion in assets. If even just 0.5% of this huge sum were allocated to cryptocurrency Bitcoin ETFs in the first year following the Bitcoin halving event planned for April 2024, the impact on the price of Bitcoin would be enormous.
32-fold increase is at the door
The presenter looks at pension funds and organizations looking for solid returns to secure their financial future. He accordingly argues that such an allocation is reasonable in light of the increased interest. If these organizations actually make such allocations, the increase is certain. Accordingly, the increase in demand for cryptocurrency Bitcoin will produce an important result. This would push its price up approximately 3,219% in less than five years. To simplify the magnitude of this prediction, Bitcoin is currently worth $27,965. Consider that it could reach a staggering $920,000 by April 2028.
There’s something about this prediction that adds an additional layer of excitement. Accordingly, this is the statement of a senior executive from BlackRock, one of the large companies. The manager points to a relatively short time frame for such investments. He suggests they could potentially gain regulatory approval within three to six months. This accelerated timeline stems from the desire to enter the cryptocurrency Bitcoin arena before a major event known as “halving”, which is of great importance in the Bitcoin world. When we look at it as Kriptokoin.com, it will be an important rally sign for BTC if all the expected elements align. If the price of Bitcoin undergoes the significant increase predicted, it will mark a major turning point in the financial sector.
