Main monetary companies agency PWC has carried out a examine and located that almost all of crypto fund managers surveyed consider that the worth of bitcoin could be between $75K and $100K by the top of this yr.
Bitcoin’s Value Estimate by Crypto Fund Managers
PWC, a Massive 4 accounting agency, revealed its “4th Annual International Crypto Hedge Fund Report” final week. It was produced along with the Different Funding Administration Affiliation (AIMA) and Elwood Asset Administration (now a part of Coinshares).
The information within the report comes from a survey carried out in April throughout a pattern of 77 specialist crypto hedge fund managers, PWC defined, including that their complete property below administration (AUM) had been $4.1 billion in 2021.
The report consists of bitcoin worth predictions. “We gave crypto fund managers the chance to contribute their estimates on the place the worth of BTC and the general cryptocurrency market capitalization could be on 31 December 2022,” the Massive 4 accounting agency detailed.
The outcomes confirmed that “whereas the general crypto market was fairly bearish, managers remained extraordinarily bullish on BTC,” the report describes. Noting that “the median prediction of BTC worth being $75,000,” PWC detailed:
Nearly all of predictions had been inside the $75,000 to $100,000 vary (42%), with one other 35% predicting the BTC worth to be between $50,000 and $75,000 by the top of 2022.
John Garvey, PWC United States’ world monetary companies chief, commented:
The latest collapse of Terra vividly demonstrated the potential dangers in digital property. There’ll proceed to be volatility, however the market is maturing.
“With that’s coming not solely many extra crypto-focused hedge funds and better AUM but additionally extra conventional funds getting into the crypto area,” he concluded.
PWC additionally defined that 38% of conventional hedge funds surveyed are at the moment investing in digital property, in comparison with 21% a yr in the past. The agency added:
The variety of specialist crypto hedge funds is estimated to now high 300 globally.
Moreover, 46% of crypto hedge funds surveyed revealed that they’re concerned in cryptocurrency staking, 44% are engaged in lending, and 49% are concerned in borrowing.
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