Bullish: Bloomberg Predicts $400,000 Bitcoin Price In 2021
Considering this is coming from Bloomberg, this shows just how far Bitcoin has come to earn the respect of those who decried it in the past:
IN BULLISH REPORT, BLOOMBERG PREDICTS $400,000 BITCOIN PRICE IN 2021
On April 6, Bloomberg released the April edition of its monthly “Crypto Outlook,” in which it outlined the bullish narratives around bitcoin and the burgeoning industry surrounding it. The report was notably bullish, particularly as it came from a reputable legacy firm in the financial and media industry. Here are some of the highlights:
“BITCOIN FILLS THE DIGITAL RESERVE-ASSET NEED IN LOW-YIELD WORLD”
“Adoption iterations for Bitcoin have entered a unique state of human nature that supports the crypto’s ascent, in our view. Money managers reluctant to cross the Rubicon and allocate at least a small portion of funds may be at risk as Bitcoin simply does more of the same, advancing in price amid unprecedented low interest rates and elevated equities.”
The record-low yields across the global economic environment have played a major role in Bitcoin adoption over the past year, and more investors are starting to take note. Bloomberg also highlighted the dichotomy between the recent performance of bitcoin against the performance of gold.