Ryan Watkins, an author, and crypto analyst at Messari, has taken to his twitter handle on June 23, 2020, to reveal that the price of Bitcoin could surpass $50,000 if institutional investors such as hedge funds, family offices, and others follow Paul Tudor’s lead and buy Bitcoin with at least 1% of their assets under management.
Earlier in May 2020, a highly successful hedge fund manager, Paul Tudor Jones, revealed that he’d allocate a low single-digit percentage of his firm’s AUM in Bitcoin, to hedge against what he calls the “Great Monetary Inflation.”
In the most recent development, Messari’s crypto expert, Ryan Watkins has released his research study, providing us a picture of what might occur to the price of the world’s leading cryptocurrency if all institutional investors allocated just 1 percent of their AUM to Bitcoin.
That “An aggregate 1 percent institutional allotment to Bitcoin can quickly bring its market capitalization to $1 trillion, or over $50,000 per BTC.”.
If all goes as planned, PayPal and Venmo users will soon be able to buy or sell their Bitcoin as well as other large-cap cryptos right from their accounts.
At press time, the price of Bitcoin sits at $9,539, with a market capitalization of $175.64 billion, as seen on CoinMarketCap.