Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Hedge fund manager James Lavish has predicted that Bitcoin could rise to $428,000 at some point. He also mentioned what needs to happen for the flagship crypto to reach such an ambitious price target.\u00a0 How Bitcoin Could Rise To $428,000 Lavish mentioned in an X (formerly Twitter) post that Bitcoin would rise to $428,000 when it becomes 1% of the $900 trillion investment assets worldwide. The hedge fund manager made this prediction while revealing that Bitcoin, at its current price, only accounts for 0.15% of the capital in these investment assets. Related Reading: Analyst Says ETH Price Will Struggle As Spot Ethereum ETFs Expectations Crash The idea is that BTC will become widely adopted to the extent that it sees most of the global liquidity flow into its ecosystem. Such an inflow of new money would undoubtedly spark a massive rally for the flagship crypto, seeing how much valuable assets like gold are currently worth, thanks to their liquidity.\u00a0 Interestingly, crypto pundit and Bitcoin maximalist Mark Harvey had previously shared a similar view to Lavish\u2019s. Harvey predicted that Bitcoin could rise to $415,000 if it captured 1% of the global assets. Meanwhile, he made an ultra-bullish case for Bitcoin, predicting that it could rise to $17 trillion if it managed to capture most of the monetary premium of asset classes.\u00a0 The asset classes in question include gold, silver, equities, real estate, fiat money, and bonds. Harvey claimed that Bitcoin could steal a massive chunk of the global investment from these other assets as the flagship crypto becomes the most preferred option for people to preserve their money. The crypto pundit also described Bitcoin as a \u201csuperior form of property\u201d to the rest.\u00a0 Indeed, a case can be made for BTC being superior to all other assets, considering how it has outperformed the traditional market over the last 14 years. NewsBTC recently reported that digital assets led by BTC have been the best-performing assets in 11 of the last 14 years. Bitcoin is again outperforming these traditional assets with a year-to-date (YTD) gain of over 50%.\u00a0 BTC Could Well Be On Its Way To Achieving The \u20181%\u2019 Status Bitcoin is undoubtedly enjoying a broader adoption in this market cycle, especially thanks to the launch of the Spot Bitcoin ETFs, which are available not only in the United States but also in other countries like Hong Kong and Australia. Thanks to these investment funds, Bitcoin now has the attention of more institutional investors, who are becoming more inclined to the flagship crypto.\u00a0 Related Reading: Institutional Investors Show Interest In Cardano, Triggering 300% Surge Bitcoin will continue to enjoy an impressive liquidity flow into its ecosystem as more institutional investors become bullish. Moreover, Bitcoin’s being touted as a \u2018digital gold\u2019 has made it more attractive to investors since this narrative places it as a better option to gold. This has led to projections that Bitcoin could surpass gold\u2019s market cap of $16 trillion.\u00a0 Meanwhile, it is worth mentioning that governments worldwide could also play a huge role in Bitcoin\u2019s meteoric rise as they begin to adopt the flagship crypto as a reserve asset. A country like El Salvador is well on this path, while the United States could join soon enough, with Donald Trump promising to create a strategic national Bitcoin reserve if elected.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":632528,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,1119,89185,1122,1144,78790],"class_list":["post-632516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\n
Hedge Fund Manager Says Bitcoin Price Will Reach $428,000 If This Happens<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n