Regarding an article published on 25th July 2020 by Crypto News Flash. Click Here to read the full article.
If US Banks allocated just 1% of their clients assets to Bitcoin the price would double.
The more subtle point is that one NASDAQ stock, Grayscale, already owns 2% of Bitcoin currently mined. Grayscale would be a big beneficiary and become a darling stock for the new bread of app based retail stock market investor. This is where multiplier effects come into play.
Institutions are likely to allocate along side the banks because of retail interest in Grayscale. This means Bitcoin could be valued at USD 1 trillion. This valuation translates into a price for Bitcoin of USD 50,000 (5 times higher than currently).
Multipliers tend to multiply. If all the privately managed capital follow the institutions and allocate 1% to Bitcoin then its market value could rise by as much as 22 times the current price.
How much you believe in the multiplier is up to you but you have to make sure you allocate to Bitcoin in proportion to your belief.
