CoinShares executive forecasts Bitcoin to reach $100,000

CoinShares’ Chief Development Officer Meltem Demirors said in a CNBC interview that by the end of 2021 the price of the leading cryptocurrency would surge to $100,000.

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 pic.twitter.com/CK3fEXfWZV

— CNBC’s Fast Money (@CNBCFastMoney) September 30, 2021

In her view, plenty of cash remains idle, so investors plan to include digital gold in their portfolios.

“A multitude of options [for buying Bitcoin] open up a channel for retail and professional investors”, said Demirors.

She also noted the “buy the rumor, sell the news” model as one of the catalysts for changes in the price of the first cryptocurrency.

“There is a lot of buzz around potential approval of a Bitcoin ETF. These will be cash-settled ETF contracts,” Demirors said.

According to her, at the end of Q4 2021 and the start of Q1 2022 there will be “certain movements” in long-dated six-figure options.

In September, SEC chair Gary Gensler said that the regulator would consider applications to launch Bitcoin ETFs, if they are based on Chicago Mercantile Exchange futures and comply with the Investment Company Act of 1940.

​​Over the past months, applications to launch Bitcoin ETFs under these guidelines have been filed by Valkyrie Investments, VanEck, Invesco, ProShares, Galaxy Digital and AdvisorShares.

Earlier, SkyBridge Capital head Anthony Scaramucci called Bitcoin “the global reserve currency of the future”.

Earlier, Galaxy Digital founder Mike Novogratz said that digital gold would fundamentally change the financial system.

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