Crypto Rover Envisions Bitcoin at $100K with Spot ETFs

Crypto Rover Envisions Bitcoin at $100K with Spot ETFs

Crypto Rover Envisions Bitcoin at $100K with Spot ETFs

Crypto Rover, a prominent member of the online crypto community, believes that Bitcoin has the potential to reach $100,000 in the future.

The crypto influencer’s bullish outlook was predicated on the potential impact of the ongoing spot Bitcoin exchange-traded fund (ETF) craze, which has attracted the attention of major traditional finance players. 

Earlier today, Crypto Rover took to X (formerly Twitter) to discuss the potential price movement of BTC in the immediate future.

According to the crypto influencer, the tax advantages and leverage potential of spot Bitcoin ETFs would make them an attractive investment vehicle for large institutional investors such as pension funds and family offices.  

Introducing TradFi participants into the cryptocurrency market via spot Bitcoin ETFs could liberate additional capital and increase market liquidity.

Crypto Rover informed his followers that such developments could propel the price of BTC to $40,000 in a matter of weeks and possibly beyond $100,000 in the long run.

The influencer indicated that spot Bitcoin ETFs would play a role in the next bull run on the cryptocurrency market. 

Crypto Rover cited a report by Bloomberg, which stated that the potential total market for spot Bitcoin ETFs could be near a staggering $150 billion.

The Bloomberg Intelligence report compared the Bitcoin ETF market to the Gold ETF market.

Because financial advisors in the United States supervise $30 trillion in assets, a 0.5% allocation would propel the BTC ETF market to $150 billion. 

At the time of writing, CoinMarketCap data indicated that Bitcoin was trading at $27,101.

BTC’s market capitalization is currently $528 billion, and its daily trading volume is $13.2 billion.

Since the beginning of the year, the leading cryptocurrency has increased by over 63%. 

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