According to a survey conducted by Nickel Digital Asset Management and market research firm Pureprofile, institutional investors are confident in the long-term value of Bitcoin and predict a strong year ahead for the cryptocurrency.
The survey, which interviewed 200 institutional investors and wealth managers from around the world who collectively manage approximately $2.85 trillion in assets, found that 65% of respondents believe that Bitcoin could reach $100,000.
Additionally, nearly 90% of respondents predict that the price of Bitcoin will rise this year, and 23% forecast that it will exceed $30,000 by the end of 2023.
Out of those who predict Bitcoin hitting $100,000, 58% expect it to happen within three to five years and 25% say it will take five or more years. The survey also found that 76% of respondents predict that the price of Bitcoin will reach its November 2021 peak of $69,000 within five years.
