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:
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