Bitcoin is set to hit a key level by next year as fiscal worries prop up the cryptocurrency: VanEck
Sigel said that conversations with institutional clients, from advisors to sovereign wealth funds indicate that they are all buying bitoin.
TL;DR
- Bitcoin price forecast to reach $100,000 by next year.
- Fiscal worries and government over-indebtedness are supporting Bitcoin.
- Institutional investors, including advisors and sovereign wealth funds, are buying Bitcoin.
- Easing liquidity could act as a "turbocharge" for Bitcoin.
- Stablecoins are expected to grow due to a "dysfunction" between lawmakers and the banking lobby.
- The U.S. Senate failed to advance the Clarity Act, which aims to regulate cryptocurrencies.