GameStop invests 500 million USD in Bitcoin, Standard Chartered joins the game, and TD Cowen forecasts BTC to reach 155,000 USD!
The cryptocurrency market is buzzing with a series of positive news from major players. Ryan Cohen, CEO of #gamestop , just shared on CNBC that the company has boldly invested over 500 million USD in Bitcoin. This is a strategic move to hedge against inflation and the impact of global money printing. Cohen asserts that GameStop has its own strategy, not just merely copying MicroStrategy, and will continue to use its massive cash reserves (over 9 billion USD) cautiously to seek low-risk, high-return opportunities.
Major financial institutions continue to participate
In another important development, #StandardChartered has become the first major bank to provide Bitcoin and Ethereum trading services for institutional clients in the UK. This indicates the increasing acceptance and deeper integration of cryptocurrencies into the traditional financial system.
Bitcoin and Strategy forecasted optimistically
Regarding forecasts, investment bank TD Cowen has a very optimistic outlook on Bitcoin's price by the end of this year:
Optimistic scenario: BTC could reach 155,000 USD.
Base scenario: BTC at 128,000 USD.
Negative scenario: Still holding at 55,000 USD.
Notably, TD Cowen has also raised its stock price target for Strategy (the parent company of MicroStrategy) from 590 USD to 680 USD, reflecting confidence in this company's Bitcoin accumulation strategy. All this information reinforces a promising picture for the cryptocurrency market in the near future.