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

Major monetary companies agency PWC has carried out a research and located that almost all of crypto fund managers surveyed consider that the value of bitcoin can be between $75K and $100K by the top of this yr.

Bitcoin’s Price Estimate by Crypto Fund Managers

PWC, a Big Four accounting agency, printed its “4th Annual Global Crypto Hedge Fund Report” final week. It was produced along with the Alternative Investment Management Association (AIMA) and Elwood Asset Management (now a part of Coinshares).

The information within the report comes from a survey carried out in April throughout a pattern of 77 specialist crypto hedge fund managers, PWC defined, including that their complete belongings beneath administration (AUM) had been $4.1 billion in 2021.

The report consists of bitcoin worth predictions. “We gave crypto fund managers the chance to contribute their estimates on the place the value of BTC and the general cryptocurrency market capitalization can be on 31 December 2022,” the Big Four accounting agency detailed.

The outcomes confirmed that “whereas the general crypto market was fairly bearish, managers remained extraordinarily bullish on BTC,” the report describes. Noting that “the median prediction of BTC worth being $75,000,” PWC detailed:

The majority of predictions had been inside the $75,000 to $100,000 vary (42%), with one other 35% predicting the BTC worth to be between $50,000 and $75,000 by the top of 2022.

John Garvey, PWC United States’ international monetary companies chief, commented:

The current collapse of Terra vividly demonstrated the potential dangers in digital belongings. There will proceed to be volatility, however the market is maturing.

“With that’s coming not solely many extra crypto-focused hedge funds and better AUM but additionally extra conventional funds getting into the crypto area,” he concluded.

PWC additionally defined that 38% of conventional hedge funds surveyed are at present investing in digital belongings, in comparison with 21% a yr in the past. The agency added:

The variety of specialist crypto hedge funds is estimated to now high 300 globally.

Furthermore, 46% of crypto hedge funds surveyed revealed that they’re concerned in cryptocurrency staking, 44% are engaged in lending, and 49% are concerned in borrowing.

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