Institutional investors and wealth managers are increasingly convinced the $100,000 Bitcoin landmark will be achieved with one in five expecting it will be hit within two years (the current price is $66,687), according to new global research by London-based Nickel Digital Asset Management, Europe’s digital assets hedge fund manager founded by alumni of Bankers Trust, Goldman Sachs and JPMorgan.
The study with organizations invested in the sector “found 97% now believe the £100,000 mark will be achieved up from 75% when Nickel asked the same question in January this year.”
Around one in five (20%) expect “the $100,000 valuation to be achieved within two years.”
Nickel’s research with institutional investors and wealth managers in the US, UK, Germany, Switzerland, Singapore, Brazil and the United Arab Emirates “who collectively manage around $1.7 trillion in assets found confidence in Bitcoin and Ethereum’s price performance is translating into support for altcoins and other digital assets.”
Almost all (98%) questioned believe altcoins and other digital assets “will attract more investment which compares with 83% expressing the same view in January.”
The study found high levels of confidence in “the price performance of Bitcoin and Ethereum – around 92% expect Bitcoin to end the year higher than the $70,000 price it was at when the survey was carried out (June 2024) while 96% expect Ethereum to end the year higher than the $3,700 it was when the survey was conducted.”
Anatoly Crachilov, CEO and Founding Partner at Nickel Digital, said:
“We are witnessing structural improvement of investor confidence. Earlier this year, only 75% of respondents believed the $100,000 Bitcoin milestone was possible, while now nearly all do. This surge in optimism underscores improving political rhetoric around digital assets and growing credibility of the sector.”
Nickel Digital commissioned the market research company Pureprofile to “interview 200 institutional investors and wealth managers across the US, UK, Germany, Singapore, Switzerland, Brazil and the UAE in January 2024.”
Nickel Digital Asset Management is “a London-based FCA-authorised and CFTC-registered investment manager that offers a range of digital asset strategy solutions for institutional investors.”
Its mission is to provide a gateway “for traditional investors into the digital assets market across a broad range of risk profiles.”
The firm pursues a range of systematic strategies “dedicated to the digital assets market, with its flagship multi-strategy non-directional fund focusing on alpha generation.”
Nickel is led by “a senior team of traders and investment professionals of experience gained in major Wall Street banks, such as Bankers Trust, Goldman Sachs, JPMorgan, Morgan Stanley, as well as global hedge funds.”
Risk management is the core of Nickel’s “approach to investment management.”
This was evidenced in March 2020, May 2021 when Nickel “preserved the value of investor capital and delivered positive return at the time of market implosion.”
