The head of the cryptocurrency venture fund Three Arrows Capital, Su Zhu, forecast that Bitcoin would reach $88,888 in less than two months.
88888$BTC
— Zhu Su 🔺 (@zhusu) August 22, 2021
In January 2021, Three Arrows Capital disclosed a stake in the Grayscale Bitcoin Trust (GBTC) of 36,969 BTC (about $1.85 billion at the time of writing).
On August 23, Bitcoin price first surpassed the $50,000 mark after May’s decline. The cryptocurrency market capitalization surpassed $2.2 trillion, according to CoinGecko.
In a Bloomberg Intelligence report, senior commodity strategist Mike McGlone forecasted the rise of digital gold to $100,000.
Bitcoin skeptic and gold advocate Peter Schiff acknowledged that the price of bitcoin could surge to $100,000 and that he did not buy the asset in 2011. However the entrepreneur still regards the first cryptocurrency as a bubble.
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