Canary Capital CEO Steven McClurg recently stated in an interview with CNBC that Bitcoin's trend is highly dependent on ETF inflows. Over the past year, institutions and advisors have started to allocate after completing due diligence, with not only small institutions but also sovereign wealth funds, pensions, endowments, etc. entering the market; insurance companies are the slowest but are already consulting.
He pointed out that this funding is driving up BTC prices, while treasury companies have also been buying in large quantities recently. McClurg believes that this year, Bitcoin has over a 50% chance of rising to $140,000 to $150,000, benefiting from the Federal Reserve's loose policies, but a new round of bear market may occur next year.
When it comes to Ethereum, he bluntly stated that ETH is 'outdated technology.' Although the ETF has brought attention, it is difficult to reach new highs. In contrast, he is optimistic about Litecoin, saying that founder Charlie Lee has been actively updating the code since returning to the foundation and has made progress on Ordinals (digital inscriptions). McClurg believes that Litecoin, as 'the silver to Bitcoin,' is expected to make a strong comeback in small payments and digital art applications.
