Bitcoin's Market Cap Poised to Triple Amid Economic Turmoil
Renowned hedge fund manager and macro investment strategist Hugh Hendry has recently expressed a positive outlook on Bitcoin, predicting that its market capitalization could nearly triple to $1.5 trillion amidst worsening macroeconomic conditions.
In a recent interview with Bloomberg, Hendry, known for his astute analysis of macroeconomic trends, stated that Bitcoin would emerge as a top-performing asset, particularly in times of volatility. He projected that the market capitalization of BTC, currently at $588 billion, could reach $1.5 trillion.
Hendry contextualized Bitcoin's potential growth within the broader asset allocation landscape, highlighting its position in the "world of asset allocation within a bucket that we call alternatives." This category includes private equity, commercial property, and gold, with a total value of $100 trillion. With Bitcoin currently at half a trillion dollars, he suggested that it could triple in value, reaching $1.5 trillion and making it comparable in size to Apple.
The strategist expressed optimism that Bitcoin's market capitalization would receive a significant boost from both regulatory pressure on other non-commodity digital assets and increased institutional participation. He cited BlackRock's recent efforts to introduce a spot Bitcoin exchange-traded fund (ETF) as an example of growing institutional involvement.
BTCUSD SELL 30400 - 30600 💯💯
✅ TP1: 29800
✅ TP2: 29200
✅ TP3: 28600
🛑 SL: 31000
In a recent interview with Bloomberg, Hendry, known for his astute analysis of macroeconomic trends, stated that Bitcoin would emerge as a top-performing asset, particularly in times of volatility. He projected that the market capitalization of BTC, currently at $588 billion, could reach $1.5 trillion.
Hendry contextualized Bitcoin's potential growth within the broader asset allocation landscape, highlighting its position in the "world of asset allocation within a bucket that we call alternatives." This category includes private equity, commercial property, and gold, with a total value of $100 trillion. With Bitcoin currently at half a trillion dollars, he suggested that it could triple in value, reaching $1.5 trillion and making it comparable in size to Apple.
The strategist expressed optimism that Bitcoin's market capitalization would receive a significant boost from both regulatory pressure on other non-commodity digital assets and increased institutional participation. He cited BlackRock's recent efforts to introduce a spot Bitcoin exchange-traded fund (ETF) as an example of growing institutional involvement.
BTCUSD SELL 30400 - 30600 💯💯✅ TP1: 29800
✅ TP2: 29200
✅ TP3: 28600
🛑 SL: 31000
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