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Thursday, February 29, 2024
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    bitcoin
    Bitcoin (BTC) $ 63,548.03
    ethereum
    Ethereum (ETH) $ 3,494.94
    tether
    Tether (USDT) $ 1.00
    bnb
    BNB (BNB) $ 417.97
    usd-coin
    USDC (USDC) $ 1.00
    xrp
    XRP (XRP) $ 0.605264
    binance-usd
    BUSD (BUSD) $ 1.00
    dogecoin
    Dogecoin (DOGE) $ 0.132705
    cardano
    Cardano (ADA) $ 0.685914
    solana
    Solana (SOL) $ 123.48
    matic-network
    Polygon (MATIC) $ 1.04
    polkadot
    Polkadot (DOT) $ 8.65
    tron
    TRON (TRX) $ 0.143057

    Bitcoin To Surge 2x Amid Potential Inflows of as much as $100,000,000,000, Says Meltem Demirors – Right here’s the Timeline

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    CoinShares’ chief technique officer (CSO) Meltem Demirors is expressing bullish sentiment on Bitcoin (BTC) amid the approval of a spot exchange-traded fund (ETF) in america.

    Demirors says in a brand new CNBC interview that Bitcoin might surge to at the very least $100,000 amid the potential injection of recent capital into the asset class.

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    “I believe we are able to moderately estimate that if we simply have a look at the retirement accounts within the US, $34 trillion pie, if even 0.5% of that will get allotted over the primary two years into Bitcoin, that’s an enormous uptick from present belongings underneath administration.

    So I believe even simply trying on the world investable asset base, rising acceptance of Bitcoin as an asset class and in addition rising sentiment that the 60/40 portfolio (allocating 40% of a portfolio to fastened revenue belongings and 60% to shares) will not be related anymore.

    I believe it’s a robust type of indicator that we might see doubtlessly materials flows orders of magnitude wherever from $25 to $100 billion in yr one…

    I believe we’re going over six figures by the top of the yr.”

    Bitcoin is buying and selling at $47,132 at time of writing and must admire by 112% or barely over 2x to succeed in Demirors’ 2024 $100,000 worth goal.

    In accordance with the CoinShares CSO, greater than two-thirds of the present belongings underneath administration (AUM) in current crypto exchange-traded merchandise put money into Bitcoin.

    “In order of in the present day there’s $53 billion of AUM globally in crypto exchange-traded merchandise. So these are structured Merchandise that commerce as trackers successfully…

    See also  What Triggered Bitcoin’s Final Explosion? Glassnode Hints At One other Growth

    $53 billion of AUM, about 75% of that, $38 billion, is Bitcoin.”

    Generated Picture: DALLE3

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