According to Odaily, Geoff Kendrick, the Global Head of Digital Assets Research at Standard Chartered Bank, has revealed that institutional investments are expected to account for approximately 3% of Bitcoin's total supply in 2024. This significant influx of institutional funds is seen as a key factor in Bitcoin's potential to surpass the $100,000 mark.
Kendrick emphasized that while reaching $100,000 is merely a numerical milestone, the underlying reason for Bitcoin's ability to achieve such a valuation is the increasing institutionalization of the cryptocurrency industry. This trend has been particularly pronounced this year, largely driven by the inflow of funds through Exchange-Traded Funds (ETFs). The growing interest and participation from institutional investors highlight a shift in the market dynamics, contributing to Bitcoin's rising value and stability.
The institutionalization of Bitcoin and the broader cryptocurrency market signifies a maturation process that could lead to more widespread adoption and acceptance. As more institutional players enter the market, the perception of cryptocurrencies as a legitimate asset class continues to strengthen. This development not only impacts Bitcoin's price trajectory but also influences the overall market sentiment, potentially attracting more investors and fostering a more robust financial ecosystem.
