Weiss Ratings, a US-based investment data firm, announced what it takes for Bitcoin to reach $ 180,000.
A new review of Bitcoin shows that the true potential of BTC is beginning to emerge as a safe haven asset, according to the firm. As a sign of growing corporate interest, the firm shows the growing demand for Grayscale Bitcoin Trust shares.
“Between the third quarter of 2019 and the first quarter of 2020, the amount invested in [GBTC] has more than doubled, indicating that the increase was from $ 388.9 million to $ 818.5 million.”
Weiss, hedge fund manager, believes that the legendary name Paul Tudor Jones’s entry into the Bitcoin futures market is showing increased interest in institutions’ crypto markets. Weiss calls BTC an “safe haven asset with the highest profit potential” in an environment where central banks issue money as desired.
But the arrival of big money players is just the tip of the iceberg.
The firm says that Bitcoin is much better than gold in terms of security, portability and utility, and the doors will open after investors grasp the fact that Bitcoin is superior to gold as a safe haven asset.
“If Bitcoin catches only a third of its investments with a safe haven narration, it will be able to trade around $ 180,000. This means that we will see a 20-fold increase from today’s levels. ”