VTB: Bitcoin could rise to $250,000
VTB My Investments analysts believe it's likely that Bitcoin will reach $250,000 in the medium term, said Artem Markin, an investment consultant at the brokerage company.
One of the factors influencing the price of the first cryptocurrency was demand from corporate investors, according to brokerage analysts at a Russian state bank.
“Just yesterday, the rate hit a new all-time high, surpassing $125,000, and, according to our estimates, the upside potential is far from exhausted. In the near term, we can expect a move to $150,000, and in the medium term, even $250,000 per Bitcoin,” Markin said.
A state bank representative complained that direct purchases of Bitcoin pose high risks for Russian crypto investors.
“Bitcoin, like other cryptocurrencies, is issued in foreign jurisdictions where Russian investors may lack adequate protection from negative actions by issuers,” explained the investment consultant.
As an alternative, Artem Markin continued, one acceptable investment option could be futures that track the price of cryptocurrencies, such as Bitcoin ETFs, which are available to qualified investors in Russia.
Earlier, Andrey Tugarin, founder of the law firm GMT Legal, stated that the Russian market for P2P services and online exchanges has completely deformed, and users will migrate to other jurisdictions.
Source: cryptonews.net
