New York Digital Investment Group (NYDIG) Chairman Ross Stevens has very optimistically revealed that institutional investors are no longer simply in the bullish boat; they dominate the whole sea.
With a staggering $ 20 billion coming into the company from institutional investors, Stevens says the company's current Bitcoin holdings worth $ 6 billion can exceed $ 25 billion. However, this is not mere speculation, as Stevens reveals that he obtains this data directly from the company's order books.
He unveiled it at the MicroStrategy World 2021 conference. In a conversation with MicroStrategy's Michael Saylor, he states that acquire Bitcoin it may be the best any founder or CEO could take in the next ten years.
"I think the biggest decision CEOs will make in the next ten years will be to allocate to bitcoin."
The journey to $ 100,000 has already begun
These sentiments are in tandem with other Bitcoiners and newcomers who burst onto the market in the last 12 months. Many of these companies have already started to collect massive ROIs as they the value of Bitcoin continues to rise. The numbers are expected to rise further in the coming months as Bitcoin is forecast to retest the all-time high of $ 42k and thus surpass $ 45k.
This is a short-term price mark that could send Bitcoin to $ 50,000, if the bulls successfully keep up the pressure for the next several weeks. Further upward corrections could be recorded if the chain indicators begin to correct. More than five of these indicators, according to online analytics data platform Glassnode, are signaling a rebound in bitcoin market which could send the big bull to a low price of $ 100,000, if these signals mimic the 2017 market. We cannot forget that the Stock to flow model indicates a closing price of $ 100,000 for Bitcoin by the end of this year.
But this is just a tip of the iceberg for Bitcoin. Fundamental factors such as the devaluation of gold and fiat, along with institutional investors and major players in the traditional financial industry seeking refuge in Bitcoin, whether outside of FOMO or not, could send Bitcoin to levels never seen before.
Institutional investors have been here a long time, not a good time
Note that while the 2017 market was led by retail investors; This new rally is defended by the big dogs; institutional investors. And according to Stevens, they are in the market for the long term. You can quote him saying;
“My partners bought more bitcoins in 2020 than in 2013-2019 combined. As our fiat businesses continue to swell and accelerate, I expect we will buy more bitcoins in the next two years, we are capital allocators. If we did not believe that we would make money from this, we would not invest a penny ”.