CoinShares top executive predicts bitcoin to rise to $100,000

October 16, 2021

CoinShares top executive predicts bitcoin to rise to $100,000

CoinShares chief development officer Meltem Demirors said in a commentary to CNBC that the first cryptocurrency will soar to $100,000 by the end of 2021.

Bitcoin to the moon! $100,000 could be the next target for the world's top cryptocurrency, and it could happen as soon as this quarter, says @CoinSharesCo Chief Strategy Officer @Melt_Dem. #bitcoin

A lot of cash remains untapped, she said, so investors are planning to include digital gold in their portfolios.

"The plethora of options [to buy bitcoin] opens up a channel for retail and professional investors," Demirors said.

She also cited the "buy on rumour, sell on fact" model as one of the catalysts for changes in the price of the first cryptocurrency.

"We are now seeing a lot of hype around the potential approval of a bitcoin ETF. These would be cash-settled ETFs,"

She said there will be "some movement" on long-term options with six-figure values at the end of Q4 2021 and early Q1 2022.

SEC chief Gary Gensler said in September that the regulator would consider applications to launch bitcoin-ETFs if they were based on Chicago Mercantile Exchange futures and complied with the Investment Company Act 1940.

Valkyrie Investments, VanEck, Invesco, ProShares, Galaxy Digital and AdvisorShares have submitted applications to launch bitcoin-based exchange-traded funds in line with these guidelines in recent months.

Earlier, SkyBridge Capital head Anthony Scaramucci called bitcoin "the global reserve currency of the future".

Recall that the founder of cryptocurrency bank Galaxy Digital, Mike Novogratz, said that digital gold will dramatically change the financial system.

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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