PWC: Majority of Crypto Fund Managers Surveyed Predict Bitcoin Could Reach $100K by Year-End

Major fiscal services steadfast PWC has conducted a survey and recovered that the bulk of crypto money managers surveyed judge that the terms of bitcoin would beryllium betwixt $75K and $100K by the extremity of this year.

Bitcoin’s Price Estimate by Crypto Fund Managers

PWC, a Big Four accounting firm, published its “4th Annual Global Crypto Hedge Fund Report” past week. It was produced unneurotic with the Alternative Investment Management Association (AIMA) and Elwood Asset Management (now portion of Coinshares).

The information successful the study comes from a survey conducted successful April crossed a illustration of 77 specializer crypto hedge money managers, PWC explained, adding that their full assets nether absorption (AUM) were $4.1 cardinal successful 2021.

The study includes bitcoin terms predictions. “We gave crypto money managers the accidental to lend their estimates connected wherever the terms of BTC and the wide cryptocurrency marketplace capitalization would beryllium connected 31 December 2022,” the Big Four accounting steadfast detailed.

The results showed that “while the wide crypto marketplace was rather bearish, managers remained highly bullish connected BTC,” the study describes. Noting that “the median prediction of BTC terms being $75,000,” PWC detailed:

The bulk of predictions were wrong the $75,000 to $100,000 scope (42%), with different 35% predicting the BTC terms to beryllium betwixt $50,000 and $75,000 by the extremity of 2022.

John Garvey, PWC United States’ planetary fiscal services leader, commented:

The caller illness of Terra vividly demonstrated the imaginable risks successful integer assets. There volition proceed to beryllium volatility, but the marketplace is maturing.

“With that is coming not lone galore much crypto-focused hedge funds and higher AUM but besides much accepted funds entering the crypto space,” helium concluded.

PWC besides explained that 38% of accepted hedge funds surveyed are presently investing successful integer assets, compared to 21% a twelvemonth ago. The steadfast added:

The fig of specializer crypto hedge funds is estimated to present apical 300 globally.

Furthermore, 46% of crypto hedge funds surveyed revealed that they are progressive successful cryptocurrency staking, 44% are engaged successful lending, and 49% are progressive successful borrowing.

What bash you deliberation astir the crypto money managers’ bitcoin terms prediction? Let america cognize successful the comments conception below.