Fun

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

News Feed - 2022-06-14 10:06:02

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


Major financial services firm PWC has conducted a study and found that the majority of crypto fund managers surveyed believe that the price of bitcoin would be between $75K and $100K by the end of this year. Bitcoin’s Price Estimate by Crypto Fund Managers


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


The data in the report comes from a survey conducted in April across a sample of 77 specialist crypto hedge fund managers, PWC explained, adding that their total assets under management (AUM) were $4.1 billion in 2021.


The report includes bitcoin price predictions. “We gave crypto fund managers the opportunity to contribute their estimates on where the price of BTC and the overall cryptocurrency market capitalization would be on 31 December 2022,” the Big Four accounting firm detailed.


The results showed that “while the overall crypto market was quite bearish, managers remained extremely bullish on BTC,” the report describes. Noting that “the median prediction of BTC price being $75,000,” PWC detailed: The majority of predictions were within the $75,000 to $100,000 range (42%), with another 35% predicting the BTC price to be between $50,000 and $75,000 by the end of 2022.


John Garvey, PWC United States’ global financial services leader, commented: The recent collapse of Terra vividly demonstrated the potential risks in digital assets. There will continue to be volatility, but the market is maturing.


“With that is coming not only many more crypto-focused hedge funds and higher AUM but also more traditional funds entering the crypto space,” he concluded.


PWC also explained that 38% of traditional hedge funds surveyed are currently investing in digital assets, compared to 21% a year ago. The firm added: The number of specialist crypto hedge funds is estimated to now top 300 globally.


Furthermore, 46% of crypto hedge funds surveyed revealed that they are involved in cryptocurrency staking, 44% are engaged in lending, and 49% are involved in borrowing. Tags in this story bitcoin price prediction, BTC price prediction, Coinshares, crypto hedge funds, crypto price prediction, cryptocurrency price prediction, price prediction, PwC, pwc crypto, pwc price prediction


What do you think about the crypto fund managers’ bitcoin price prediction? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Skybridge Founder Advises How to Survive Crypto Bear Market — "We Are in a Bloodbath" MARKETS AND PRICES | 8 hours ago Billionaire Stan Druckenmiller Prefers Bitcoin Over Gold in "Inflationary Bull Market" MARKETS AND PRICES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSkybridge Founder Advises How to Survive Crypto Bear Market — ‘We Are in a Bloodbath’ Next articleJPMorgan Economist Expects the Fed to Hike Benchmark Rate by 75 bps as Global Markets Bleed Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year


The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher

News Feed

Sleeping Bitcoins Wake Up, Kiyosaki Waits for $1,100 BTC, and Zuckerberg Eyes Metaverse Money — Bitcoin.com News Week in Review
Sleeping Bitcoins Wake Up, Kiyosaki Waits for $1,100 BTC, and Zuckerberg Eyes Metaverse Money — Bitcoin.com News Week in Review As July begins and markets remain bearish, there&#
What is restaking, and how to restake Ethereum to boost rewards?
Dilip Kumar Patairya13 hours agoWhat is restaking, and how to restake Ethereum to boost rewards?Staking Ethereum refers to using staked Ether on the Ethereum network to support the security of other decentralized protoco
Bitcoin miner profits drop as halving, power costs weigh — JPMorgan
Alex O’Donnell4 hours agoBitcoin miner profits drop as halving, power costs weigh — JPMorganBTC miners are struggling to adapt to a post-halving environment. 1280 Total views30 Total sharesListen to article 0:00News
Turner Wright2 hours agoBlackRock’s spot Bitcoin ETF now listed on Nasdaq trade clearing firm — Bloomberg analystExchange-traded fund analyst Eric Balchunas said the addition was “all part of the process” of a cr
Signal boss slams EU’s latest ‘upload moderation’ surveillance ploy
Brayden Lindrea8 hours agoSignal boss slams EU’s latest ‘upload moderation’ surveillance ployThe Chat Control law is aimed at combating child exploitation material, but Meredith Whittaker said it’s just the lates
‘Sustained’ Bitcoin ETF inflows may ‘buoy’ price despite slowing spot buying
Ciaran Lyons6 hours ago‘Sustained’ Bitcoin ETF inflows may ‘buoy’ price despite slowing spot buyingA more “sustained” run of spot Bitcoin ETF inflows may counteract Bitcoin “spot market buying slowing,” s
Nigerian SEC announces new rules, compliance program for digital assets
Amaka Nwaokocha9 hours agoNigerian SEC announces new rules, compliance program for digital assetsWhile this application process is intended to improve compliance, VASPs are directed to complete it no later than 30 days f
Martin Young3 hours agoCypher Protocol reveals $600K of stolen funds is now frozen on CEXsSolana-based Cypher Protocol has managed to stop around $600,000 of stolen funds from exiting various centralized exchanges.614 To
BitMEX Founder Predicts How Bitcoin Goes To $1 Million Under Trump
Este artículo también está disponible en español. In his latest essay titled “Black or White?”Arthur Hayes, co-founder and former CEO of crypto exchange BitME
The Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink
The Fed Is ‘Resolute’ on Hiking Interest Rates, Tightening Monetary Policy to Tame Inflation — Gold and Stocks Sink Several reports detail that U.S. Federal Reserve officials
Study: 6,100 Crypto ATMs Installed in 2022, Figure 3 Times Less Than in Previous Year
Study: 6,100 Crypto ATMs Installed in 2022, Figure 3 Times Less Than in Previous Year New data has shown that as many as 6,100 crypto and bitcoin automated teller machines were ins
Turner Wright2 hours agoCoinSmart president says crypto taxes are a ‘little bit more favorable’ outside USAccording to Jeremy Koven, Canadian crypto firms may have a better regulatory environment than ones in the Uni