Wall Street will eventually push Bitcoin to $150k, albeit very slow

There doesn’t seem to be much crypto madness this time around, but rather a slow acceptance by investors and analysts that Bitcoin’s further rise is quite simply unstoppable.

According to institutional investors on Wall Street, a price of $150,000 for Bitcoin will definitely be reached, although this time it seems to be happening more slowly than usual.

15%

Bitcoin treasuries, a website that shows which companies own Bitcoins, noted that the number of Bitcoins held by listed companies increased by 31% to an estimated value of $349 billion this year already. By now, there are companies on almost every continent that are buying up Bitcoins and seeing their stock market value increase as a result. Those companies own about 15% of all Bitcoins on the market.

Of course, these investments help to increase the credibility of Bitcoin, which in turn increases its appeal to smalltime investors, because if listed companies also invest in it, the chance that Bitcoin will ever crash again seems much smaller.

The next macroeconomic data point that could give Bitcoin a boost comes as early as Friday, when the latest inflation data from the United States is due.

If inflation were to rise again, the Federal Reserve would be forced to either cut interest rates quickly or turn on the money printer again. Either solution could give Bitcoin a boost.