Meltem Demirors, who is the chief strategy officer at digital asset manager CoinShares, says that big investors seem to think that the price of Bitcoin will go up soon.
Demirors said that people have been putting a lot of money into Bitcoin investments lately in an interview with CNBC.
“We have seen money go into Bitcoin products for six weeks in a row. ”
In August, we saw a small increase in activity, but then we traded with very little change in volumes.
In the past six weeks, we have seen a lot more things happening and a lot more buying and selling of stocks. In 2023, $760 million was invested in Bitcoin products. We have gone past the levels in 2022. “I believe these signs show that big investors are beginning to invest in Bitcoin, expecting its price to go up at the end of the year and in the first quarter of next year. ”
Demirors also believes that the US Securities and Exchange Commission (SEC) will agree to a Bitcoin investment fund (ETF) that is traded on exchanges by the end of the year. However, she says that it will probably take a while for money to move into a Bitcoin ETF if the SEC gives permission for the long-awaited Bitcoin investment.
“I think people are really excited. ” The question is how soon those flows will happen. I believe it may take a few months, but there is a lot of demand for it.
Bitcoin is being bought and sold for $37,369 right now.
