US President and Chinese General Secretary May Spur BTC Rally, and BTC Capitalization May Reach $1 Trillion
Fidelity Investment: BTC capitalization will reach $1 trillion
Fidelity Investment, one of the world’s largest asset management companies, has published a report on investments in Bitcoin.
It demonstrates how much profit managers could get if they invested part of their portfolio in bitcoin. The company also noted that in the near future, interest from institutional investors could increase the market capitalization of BTC by hundreds of billions of dollars.
The bond market is valued at about $50.3 trillion. If bitcoin captures just 1% of this market, its capitalization will grow by $500 billion. The report argues that steadily declining bond yields could prompt financial managers to seek alternative assets.
According to the most optimistic forecasts of Fidelity analysts, the capitalization of bitcoin could grow to $2 trillion. With the current supply of 18.5 million coins and an average market price of $11,415, this will send the rate to $108,000.
Binance CEO: Chinese General Secretary and US President Could Spur Bitcoin Rally
Changpeng Zhao, CEO of the crypto exchange Binance, commented on the tweet of the US President, in which he hinted at the imminent adoption of stimulus measures to support the economy.
According to Zhao, in the coming days this could provoke an increase in the bitcoin price. In addition, Chinese General Secretary Xi Jinping may issue a statement on the blockchain on October 14. Last year, this caused the price of BTC to rise by 30% in a day, and a number of altcoins grew in price by 50–100%.
“We will likely have two of the world’s most powerful presidents pump crypto for us in 2 consecutive days. Rumor has it that a blockchain related announcement is coming out of China tomorrow, ” Zhao said on October 13.