Bitcoin Price Can Hit $310,000 If Institutions Make A Single Move
It has been just revealed that the price of Bitcoin is able to hit $310,000 if institutions make a single move. Check out the latest reports below. Bitcoin price to hit $310k According to respected on-chain analyst Willy...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
It has been just revealed that the price of Bitcoin is able to hit $310,000 if institutions make a single move. Check out the latest reports below.
Bitcoin price to hit $310kAccording to respected on-chain analyst Willy Woo, there is a possibility of Bitcoin’s (BTC) price increasing by 10 times, given a specific condition.
Woo has expressed to his one million Twitter followers that if eight institutions, all having varying levels of involvement in blockchain and tokenization, invest 5% of their assets under management (AUM) into Bitcoin, BTC could reach a price point of approximately $310,000.
“What would price do if these guys put 5% of AUM into BTC?
My calculations estimate around ~$310,000 per coin.”
Woo says BTC’s price could go as high as $398,000, but it would depend on the timing of the capital deployment.
“It would really depend on whether they deploy in a bearish or bullish phase of the market but the range would be between $128,000 – $398,000. Right now it’s $310,000.
Methodology is via measuring market cap increase vs realised cap increase.”
It has been reported that the U.S. Securities and Exchange Commission (SEC) has deemed the recent Bitcoin exchange-traded fund (ETF) filings by BlackRock and Fidelity as inadequate.
Woo has commented on this matter, stating that the filings were returned by the regulatory agency due to the failure to provide necessary information such as the name of the Bitcoin ETF and details on the surveillance agreement.
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Aave’s $50 million lending plan could lose money without a single default
Aave’s proposed institutional lending business would put crypto collateral on both sides of the financing chain. Institutions woul...
UK’s 2027 crypto rules let firms remove trust protection from Bitcoin lent for yield
UK crypto firms can now apply for authorization as of Sept. 30, bringing Bitcoin holders closer to a rulebook that will treat coin...
Abracadabra Moves to Shut Down MIM Stablecoin, Offering Holders Roughly 4 Cents per Token
The team running Abracadabra has proposed shutting down the lending protocol and its Magic Internet Money (MIM) stablecoin, with M...
Sen. Daines moves crypto tax overhaul with stablecoin relief and wash-sale rules
Sen. Daines' crypto tax reform could streamline digital transactions, impacting user convenience and trader strategies in the evol...
Petrobras Turns to Cardano to Track Green Claims on Jet Fuel and Renewable Diesel
Petrobras, Brazil’s state-controlled energy company, has built two research-stage blockchain applications on Cardano to record the...
Coinbase just completed its US derivatives stack but its biggest bet still sits outside it
Coinbase, the largest US-based crypto exchange, has secured Commodity Futures Trading Commission (CFTC) approval for its own deriv...