bitcoin: Europe’s biggest crypto fund sees no end to Bitcoin’s white-knuckle rally

bitcoin: Europe’s biggest crypto fund sees no end to Bitcoin’s white-knuckle rally

MUMBAI: Meltem Demirors, Chief Tactic Officer at Europe’s biggest crypto asset administration company CoinShares, expects Bitcoin price to increase even more in 2021, simply because “there is just not more than enough Bitcoin to satisfy the massive wave of demand.”

“I believe there will be volatility and cyclicality, but the development more than the next 12 months will continue to be upward, due to the fact this is seriously a offer-desire tale,” Demirors advised ETMarkets.com in an email interview.

Demirors pointed to the large influx of institutional traders into Bitcoin about the previous 12 months, which has pushed need for the cryptocurrency to stratospheric degrees. “The need is coming from institutional traders, who want to allocate not $10 million or $20 million or $30 million, but $100 million or $500 million or even a billion dollar in 1 ticket,” she stated.

Demirors’ investment company has seen its assets below administration quadruple to $4 billion in a area of 4 months, as the trailblazing rally in…

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